After nearly six months of negotiations, a contract for management of the Greenbank Farm was approved last week, dispelling rumors the publicly owned farm was at risk.

Prior to the meeting, rumors circulated about the farm’s future. More than 20 members of the public spoke of their connection to the farm and desire to help and support the Greenbank Farm community. The pleaded with Port of Coupeville commissioners to approve an agreement.

During the meeting Greenbank Farm Managment Group President Mike Stansbury pushed to present his proposal to the commissioners and asked that a decision be made that day.

“The arrangement and management needs stability,” Stansbury said Thursday. “Once it drags out it leaves it open for rumors and speculation.”

“Our objective was to put an end to that. There has never been a proposal to boot tenants or close the farm.”

The new five-year agreement between the Port of Coupeville and The Greenbank Farm Management Group initially extends the current contract terms through the end of 2015.

The port and farm’s management group reached a stalemate last month after the two parties discussed cutting the management group’s $50,000 fee.

Port officials said they are struggling with balancing budgets.

Port Commissioner Marshall Bronson told the crowd the port has struggled since purchasing the farm, a voter-approved transaction.

The port brings in about $300,000 annually and pays $105,000 annually on the bond for the farm. The bond will be paid off in 2018.

“We’ve had an obligation to pay $100,000 a year and did not raise the tax base,” Bronson said.

The port manages two historic structures — the Coupeville Wharf and the farm. Both are aging and need considerable maintenance and repairs.

“We’re faced with considerable opposition,” Bronson said. “Most people want the farm and not a lot care about the wharf.”

“Both have to balance (the) books.”

Under the new proposal, the management group identified several items it can assume responsibility for, including repair or replacement of the heat pump in Barn A and deferring rehabilitation of an irrigation system.

In total, the management group estimates the new terms cut port expenses by about $30,000.

“We cut some costs in terms we felt we could do,” Stansbury said.

Port Executive Director David Day said he doesn’t necessarily agree with that $30,000 figure.

“From the window he’s looking through, that’s how he sees it,” Day said. “From my calculations, it’s closer to $15,000-$20,000.”

“But it’s still a decrease.”

Another budget factor the port has to take into consideration from its end is a potential increase in administrative costs as the port assumes more management responsibility at the farm.

“I do think it’s important to understand, in 2018, the farm bond is paid off,” he told commissioners. “In order to work together as a bridge until 2018 is of value.”

Commissioner Mike Diamanti said the proposal meets the port’s goals and asked that commissioners take a vote.

“This is really important,” he said. “It’s critical.”

The proposal was approved unanimously.

In 2016, the port takes over tenant leases and assumes additional contract costs.

“The management group has been fairly independent,” Day said. “This new arrangement remodels that.”