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Bald Head Island ferry system sale saga now faces fraud accusations

Bald Head Island ferry system sale saga now faces fraud accusations
starnewsonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from starnewsonline.com Daily Mail and Mail on Sunday newspapers.

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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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Savior or sabotage? Village faces pressure from Brunswick, Southport in Bald Head ferry sale

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. ....

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North Carolina treasurer asks private owner to gift ferry system to public

North Carolina treasurer asks private owner to gift ferry system to public
wataugademocrat.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wataugademocrat.com Daily Mail and Mail on Sunday newspapers.

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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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