Goderich council approved a new agreement with the Goderich Port Management Corporation at its last meeting.
Mayor John Grace said the agreement will provide stability.
“This will provide, really, the stability that the Port and the Port users need and also create a measured plan to keep on developing the infrastructure and upgrading it and also doing all the repairs that are required," said Grace. “Last year we did a rebuild of South Harbour Hill and GPMC's contribution to that is in around $500,000. We will continue to have partnerships in rebuilding all of the infrastructure around the port.”
Grace said the port is a huge economic asset to the town, moving salt from the salt mine and moving agricultural products through the elevators.
The new fee structure will transfer just over $300,000 a year in the waterfront infrastructure reserves.
He added they will continue to have partnerships in rebuilding all of the infrastructure around the port and one of the next big projects will be North Harbour Hill.