Port Tampa Bay moves forward with negotiating lease agreement to move flour mill
By Veronica Brezina-Smith
Tampa Bay Business Journal
Published: Dec 7, 2018

Port Tampa Bay is moving forward in a lease agreement with Ardent Mills after its property was bought for the Water Street Tampa project.

Strategic Property Partners, controlled by Tampa Bay Lightning owner Jeff Vinik and Cascade Investment LLC, purchased 3 acres from the Ardent Mills flour mill, which will move out of downtown Tampa, to connect the Channel district to the central business district, Tampa Bay Business Journal previously reported.

The ConAgra flour mill, an industrial plant owned by Ardent Mills, was seen as a potential site for a new Tampa Bay Rays stadium. In the early days Water Street, the mill was thought of as a potential roadblock to future development.

According to the lease agreement between the port and Ardent Mills LLC, which had a public hearing on Friday, the flour mill may be moved to Berth 302 at Port Redwing in Gibsonton.

The initial term of the lease for the 10 acres of land would be for a period of 40 years with four lease extension options every 10 years.

The port's staff will make a recommendation on the lease agreement to the port authority's board of commissioners on Dec. 18. The agreement states that the annual rental rate during construction would be $12,500 per acre, and for the initial year of the operational period it will be $24,000 per acre.

It also states that Port Tampa Bay would construct additional rail improvements to the main rail line at Port Redwing. Ardent Mills would pay for the rail improvements.

Ardent Mills will also be responsible for all utilities, real estate taxes, site improvements, insurance, maintenance and movement of minimal tonnage.

During the operation period, the annual tonnage must be 450,000 tons, 100,000 of which must be by vessel over a Port Tampa Bay dock.