Port of Vancouver commissioners vote not to extend deadline for Vancouver Energy project

The Port of Vancouver USA Board of Commissioners voted Tuesday to provide notice to Vancouver Energy that it must obtain the necessary licenses, permits, and approvals required to operate its planned project by March 31.

If Vancouver Energy does not receive the required approvals by the end of March, the lease will be terminated, per the lease amendment approved by the board in April 2016.

Licenses, permits, and approvals are one of the conditions precedent on which the lease was extended in April 2016. The lease has since been extended automatically every three months.

Tuesday’s vote directs CEO Julianna Marler to provide notice that the port has decided to negate and nullify the next extension period such that the Conditions Precedent Outside Date (CPOD) remains March 31, 2018. Both parties must be satisfied that conditions, such as permits and environmental baseline work are met, by the CPOD.

“It’s gratifying to have our commission be united in its vision for the future of the port and community,” Commission President Eric LaBrant said. “We still await the Governor’s decision on the project and we continue to be focused on supporting businesses, growing jobs and providing benefit to our community.”