The borough assembly unanimously approved a resolution to amend Trident Seafoods’ lease of the borough-owned cold storage facility. The new five-year lease establishes building maintenance guidelines and raises the rental rate from $1,370 to $2,990 per month, with 2% yearly increases to account for inflation.
The changes are part of the borough’s ongoing effort to update its leases, explained Borough Manager Jeff Good. Though the company’s new agreement lasts longer than its previous one-year lease extensions, Trident is still determining whether they will return to Wrangell in the coming years. “They’re still weighing what the fish stocks are,” said Good. “There’s been no firm commitment on them coming back and opening up next summer.”
The company has not operated its Wrangell plant since 2019, blaming weak chum returns for the closure.
While Trident remains closed, the company lets third parties — including the Senior Center, fishermen and community members — use the property. The new agreement will allow Trident to charge third-party users for the space, according to borough documents.
The updated agreement stipulates that Trident and the borough will split building maintenance costs evenly up to $15,000. Costs exceeding this limit will be covered by the borough.
Before the amended lease agreement, there was no specific plan in place for building maintenance. The change will “incentivize (Trident) to be proactive” about the space’s upkeep, said Good.
Trident’s previous lease expired in April 2019, and since then the agreement has been in “’hold-over’ status,” according to borough documents. The assembly approved the new five-year lease Oct. 11.
Reader Comments(0)