Subsidiary of Trident Seafoods takes over Captains Bay lease
Trident Seafoods is about to expand its reach to Unalaska.
City Council on Tuesday approved the transfer of a lease of tidelands in Captains Bay to one of Trident’s subsidiaries, LFS, which already operates a retail store on the island.
Potted mark oversees the development of the site for LFS. While LFS sells commercial and sporting marine supplies, Brand says they haven’t decided exactly what they will do with the land, but they will explore options and begin construction in the coming year.
“At this time, only plans to build a wharf and transition the property away from sand and gravel mining services are being considered for 2022,” Brand said at the Feb. 22 board meeting.
Trident has recently expanded its fleet, including purchasing the 300ft trawler/processor Starbound in December. It is the third largest vessel in their fleet of over 40 boats.
The former tenant of the lot on Captains Bay Road – a gravel extraction company, Bering Shai Marine – held a 75-year lease from the city. From now on, the LFS will take over for the remaining 66 years.
City policy recommends 30-year tidal leases, but allows longer terms if the council thinks it would benefit the public.
Shari Coleman is the only council member who opposed the granting of the extended lease on Tuesday.
“30 years is a significant and, I think, prudent number to use for the volume of expansion and development that could possibly happen there,” Coleman said. “I would be inclined to stick to what is described in the code and in the policy.”
Rent will be set at 10% of the value of the land, which city officials say is expected to be assessed in May. The property covers approximately 14.5 acres and was last appraised in 2013 for a total value of $227,000.
Trident is the largest seafood company in the United States and operates its largest fish processing plant in nearby Akutan.
Vice Mayor Dennis Robinson said bringing a company as big as Trident to Unalaska will bring jobs and income to the community.
the city resolution said the arrangement will provide “a long-term, substantial, sustainable and desirable investment” by allowing an “existing business to grow in our community.”
The lease is to last until 2088 and requires the LFS to invest $5 million in the tidelands within 25 years.