Seattle, Tacoma port commissioners need to approve legal entity to create Seaport Alliance.
Gov. Jay Inslee signed a bill giving the ports of Seattle and Tacoma the ability to form a port development authority as the governance structure of the Seaport Alliance.
The port staffs had been pursing the creation of a public development authority, like Pike Place Market or the Seattle Art Museum, since December when the two commissions gave them the go-ahead. The passed legislation evolved to a similar port development authority (PDA).
A bill was introduced to the House of Representatives in January, and was approved in March. The Senate approved the bill earlier this month, followed by Inslee’s signature Friday.
If approved by the commissioners, the PDA creates a separate entity for contracting, auditing and reporting purposes; allows the joint commissions to meet while remaining subject to the Open Public Meeting Act and public records disclosure; clarifies status as a tax-exempt entity, and facilitates development of the new team and governance structure through the existence of a separate entity, according to a joint release.
Most Read Business Stories
- Flawed analysis, failed oversight: How Boeing, FAA certified the suspect 737 MAX flight control system | Times Watchdog
- With regulators wary, Boeing faces more hurdles to restore 737 MAX fleet
- Delegating aircraft safety assessments to Boeing is nothing new for the FAA
- Bill Gates joins Jeff Bezos as the only two members of the $100 billion club
- Chief of Starbucks' high-end initiative takes a 'coffee break' leave
Since October when the ports first announced the formation of the Seaport Alliance, which will combine the two ports’ marine cargo operations, they have been meeting publicly and privately to work out the details.
With things moving slower than expected, the commissioners approved an extension in March.
The original plan was to receive the federal commission’s approval to form the Seaport Alliance by June 15 and have the two ports formalize it July 1. That date is now estimated to be Aug. 1.