Transportation System Acquisition Update

As reported last week, at the March 19, 2021 Village Council Meeting, Mayor Sayre made the following statement on behalf of the Village Council, “After much consideration and public input, the Village Council is unanimously committed to pursuing the Village’s acquisition of the transportation system.  The Village will send a letter to the State Treasurer stating its position.”  The Village Council sent THIS letter to the State Treasurer.  Bald Head Island Limited, LLC, sent THIS follow-up letter to the State Treasurer a few days ago.

To further clarify the Village Council’s decision to pursue acquisition of the transportation system, Mayor Sayre has issued the following statement:

At the March 19th Council meeting, there was much discussion about where the Village stands regarding the proposal for the BHI Transportation Authority to acquire the ferry, barge, and parking assets from Limited.  Issues were raised by Council back in December and repeated in subsequent communications with the Authority and the Local Government Commission.  We appreciate the Authority presenting their proposal and allowing for questions from the BHI community at the February 17 meeting.  However, questions remain.

Consequently, Council unanimously agreed to look into the possibility of acquiring the assets from Limited.  We believe the Island will be better served in the long run if transportation operations are managed by the entity most closely accountable to people using the system and paying for the system in the form of parking and barge fees and ferry tickets.  This development arises now, as only recently were the proposed transaction diligence, terms, and bond rating/finance costs made public by the Authority.  We know that questions remain.  We ask that you please be patient while the Village investigates the matter.  Much here is beyond the Village’s control.

While we do not have all the answers, we have developed a frequently asked questions (FAQ) document.  More information will be forthcoming when possible.

The FAQ document can be viewed HERE.  It will be updated as more information becomes available.