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Bald Head Island ferry sale delayed by $59 million cost


The $59 million sale of the Bald Head Island ferry system was set back once again this week amid lingering concerns over the deal s price tag and transparency.
In 2017, the N.C. Legislature created the Bald Head Island Transportation Authority, a public body representing Bald Head Island, Brunswick County and the City of Southport, with a goal to acquire the ferry system s privately held assets from Bald Head Island Limited LLC.
After years of negotiations, in December the authority and ferry CEO Chad Paul agreed to sell the assets  including the Deep Port Marina in Southport, Bald Head Island Terminal, parking developments, and a ferry, tram, and barge  for just under $48 million.  ....

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Deep Dive: Inside the three-year, unique, $47 million private-public Bald Head Island ferry transaction


After a post-closing transition period, the public authority will own and operate a
wide network of assets, including the mainland and island marina, 36 acres of mainland vehicle parking, a 2003 and 2006 catamaran, two aluminum monohulls built in 1987, a 2017 tug boat, deck barge, and all of its 12-seat trams.
‘The Alamo’
It’s not every day the legislature creates a brand new government agency. “I think that’s maybe what attracted me to take this appointment,” BHITA Chair, Susan Rabon, said Thursday. Appointed by Governor Roy Cooper, Rabon has chaired the authority since it was first created by
“The whole idea, the day this closes it’ll be status quo as far as somebody getting on that ferry,” Rabon said. “They won’t notice a difference.” ....

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