The proposed Cascade Point ferry terminal about 30 miles north of downtown Juneau offers mixed impacts as an Alaska Marine Highway System hub, but would be a boon to a new mine that could ship ore from the site as well as Goldbelt Inc.’s prospects as the property owner, according to a long-awaited economic analysis by the state.

The analysis was strongly criticized by a majority of the eight-member Alaska Marine Highway Operations Board (AMHOB) during a meeting Oct. 24, with one comparing it to a timeshare brochure.

“I think that the document itself has kind of been put together in a very workman-like way to try and — what I would say — build the case for Cascade Point, as opposed to evaluate options,” Wanetta Ayers, the board chair, said while members were discussing their initial impressions of the report.

The public advisory board members agreed that a special meeting, possibly in early December, is needed to evaluate if the project and analysis are at odds with the board’s oversight responsibilities.

Meanwhile, Grande Portage Resources, which plans to build an ore shipping facility at Cascade Point for its Amalga Gold Project, is lauding the state’s cooperation in advancing a project the company’s CEO said offers “excellent gold payabilities.”

A $28.5 million agreement was signed by the state in July for the first phase of development work on the land at Cascade Point owned by Goldbelt — but that does not pay for building the actual terminal and all the services it will need.

The many controversies about the economic, environmental, transportation and other impacts of the ferry terminal are noted in the analysis by the Alaska Department of Transportation. But the bottom line is a strong endorsement that brushes aside the concerns.

“The Cascade Point project generally moves social and cultural issues in a positive direction while providing environmental benefits that outweigh localized ecological risks,” a summary at the end of the report stated. “Most concerns raised — such as habitat impacts, cultural resource disturbance and access equity — are fully addressable through mitigation, regulatory oversight and planned infrastructure support.”

That assessment comes despite a finding that the terminal has offsetting advantages and disadvantages when considered solely in terms of its impact on state ferry operations.

“The extensive capital costs of the Cascade Point terminal are difficult to justify based solely on operational cost savings,” the analysis said. “In isolation, the project provides modest reliability gains and reduces emissions but also introduces new infrastructure responsibilities and long-term maintenance obligations.”

Departing from Cascade Point will save the ferry system fuel, maintenance and other costs from shorter runs between Juneau and Haines and Skagway, but not enough to “fully recover construction costs,” according to the study.

“It read to me like a timeshare brochure,” said AMHOB member Bob Horchover. “I don’t think it was realistic and I’m not sure where they got some of their numbers. ... I was quite surprised that it seemed like it was not really anchored in reality.”

A near-certain winner of the Cascade Point terminal is Grande Portage’s mining venture, according to the analysis.

“The most promising opportunity for sustained economic growth lies in the proposed New Amalga Mine, which is expected to use Cascade Point for logistics,” the report said.

Goldbelt, as an Alaska Native urban corporation that owns the land at Cascade Point, “also supports the project as an opportunity to demonstrate Native leadership in regional infrastructure development,” the report stated.

Board members noted that significant opposition to the Cascade Point terminal has been expressed by nearby communities, including formal resolutions from the Skagway and Haines borough assemblies.

“My impression of the public, at least in Juneau, is that this is a bit of a very narrow, focused project for a very narrow group of people that seem to think that this is some kind of an answer, or they’re paying off some favor somewhere,” Horchover said. “I don’t know exactly what the motivation is, but it sure isn’t for the good of the Alaska Marine Highway service.”