Port of Seattle Provides Rent Relief to Maritime and Landside Tenants

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(Port of Seattle)

Posted April 16, 2020

The relief comes in the way of deferring rent for businesses for the months of April through July, and deferring moorage fees for liveaboard and other moorage customers for the months of April through June.

Building on recent tenant relief at Seattle-Tacoma International Airport, the Port of Seattle will provide rent relief for qualifying business tenants and customers throughout its maritime and landside properties, which include office, retail, and restaurants, along with recreational and commercial moorage. The relief comes in the way of deferring rent for businesses for the months of April through July, and deferring moorage fees for liveaboard and other moorage customers for the months of April through June.

“We are taking relief actions port-wide starting this month, including foregoing evictions, to aid our tenants in weathering this unprecedented crisis,” said Port of Seattle Executive Director Steve Metruck.

“The Seattle Port Commission has heard clearly from many of our customers and tenants since the outbreak of the COVID-19 health crisis, and we are taking immediate action to help forestall further economic hardship on them,” said Port of Seattle Commission President Peter Steinbrueck.

The relief provisions will apply to tenants who have been impacted by COVID-19 and the resulting economic crisis. For Landside Maritime and Economic Development Division tenants with demonstrated impact and need, this will defer rent payments and other fees for four months—April, May, June, and July of 2020—which is similar to the relief for tenants at Seattle-Tacoma International Airport. The deferrals are intended to maximize the ability of the Port’s commercial tenants to continue operations, retain employees and provide revenue to the Port as the economy recovers from the COVID-19 pandemic.

For vessel moorage customers with demonstrated impact and need, the Port will defer moorage payments and other fees for three months—April, May, and June of 2020. The Port will work with customers to develop repayment plans that work for paying the deferred rent.

Source: aviationpros