In less then two years, the Greenbank Farm Management Group could receive a bump in the fee they receive from the Port of Coupeville.

The port commissioners approved a “cost of living” increase to the fee it pays the management group to manage the farm property. The fee increase would take place in 2011.

Management Group President Michael Stansbury said during Wednesday’s port meeting that the group is right on target with expenses this year and won’t need a fee increase next year. He proposed the fee increase for 2011, 2012 and 2013.

The port pays nearly $50,000 a year to the Management Group.

“It addresses our own need to keep costs under control in this difficult economy,” Stansbury said.

Port Executive Director Jim Patton said after the meeting that the management group couldn’t find a justification to ask for an immediate fee increase.

He also complimented farm management officials for their efforts to keep costs down.

“They have controlled costs beautifully over the past year,” Patton said.

The amount of the fee increase isn’t known yet, but will be based on the consumer price as set by the Bureau of Labor Statistics.

The three-member board unanimously approved the change to the fee structure.