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State treasurer asks Bald Head Island Limited to donate — not sell — $47 million ferry system

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 F. Still)
Update 4:50 p.m.: This article has been updated to include a response from Bald Head Island Limited.
BRUNSWICK COUNTY On the heels of his first visit to Bald Head Island, N.C. State Treasurer Dale Folwell is publicly asking Bald Head Island Limited, LLC to donate rather than sell its ferry system, valued at $47 million.
The treasurer’s request comes less than two weeks before the Local Government Commission is set to review key aspects of the private-to-public ferry sale in approving up to $59 million in bond financing. ....

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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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