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The Bald Head Island Transportation Authority is working to acquire the island’s multi-million dollar, privately-owned ferry system. (Port City Daily photo/Johanna Ferebee) BALD HEAD ISLAND –– After heightened public scrutiny over a market value appraisal that grew infamous in the fallout between the Village of Bald Head Island and its transportation partners, a second, new appraisal report is now complete. The new report of the island ferry assets came close to the original, a 7% total difference in appraised land value, about $2.9 million less. Deep Point Marina, located within Southport city limits, was appraised at $33 million, about $3.3 million less than the first appraisal. ....
As seen from an approaching Bald Head Island ferry, Deep Point Marina in Southport is a vital asset in Bald Head Island Limited’s ferry operations. (Port City Daily photo/Mark Darrough) BRUNSWICK COUNTY Last week, the Brunswick County Board of Commissioners and Southport Board of Aldermen each unanimously passed resolutions supporting a state-created entity, mandated by the legislature to purchase Bald Head Island’s private ferry system. The county and city’s sign of solidarity with Bald Head Island Transportation Authority (BHITA) is a direct response to the Village of Bald Head Island’s public (yet unofficial) offer to purchase the system for itself. ....
The Bald Head Island Transportation Authority is working to acquire the system’s privately-owned assets, valued at $47 million. (Port City Daily photo/Johanna F. Still) BALD HEAD ISLAND A week after the Bald Head Transportation Authority met and a majority approved moving forward with purchasing the island’s ferry system for $47 million, the island’s political leaders drafted a letter to the state treasurer, opposing the sale as it currently stands. The authority is mandated by legislation to purchase the system, owned by Bald Head Island Limited LLC. Though there’s no deadline baked into the law that created the authority for this purpose, trustees have been working at this for three years last week’s move to apply for revenue bond approval marked its most significant step yet. ....