PDA extends Grimmel Industries’ waterfront lease by another year

Dec 14, 2007 | 08:35 AM | Michael Marley

Grimmel Industries Inc. has gained another extension on its lease at the waterfront scrapyard in Portsmouth, N.H., although this time it's for one year with an option for another year.

The Pease Development Authority (PDA), the state agency that manages the dock, agreed to grant Grimmel the lease at its Market Street Marine Terminal.

In addition to raising the rent at the site, the PDA also imposed new conditions on the scrap exporter, including paying any increases in terminal charges; paying $78,250 as its portion of the cost of putting a new deck on the main pier and setting aside $1,000 a month for future maintenance needs; and hiring....

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