Portland Fish Pier Authority

PORTLAND FISH PIER AUTHORITY BOARD OF DIRECTORS May 14, 2026, 3:30 PM Portland Fish Exchange Subcommittee Meeting Remote via Zoom Please use the information below to join the meeting: https://portlandmaine-gov.zoom.us/j/81634558414?pwd=K0bJImqEbYLaAw4m0n0abZbeDISS3N.1 To submit written public comment on an Agenda item, please send an email to edd@portlandmaine.gov. Submissions must be received by 12:00 p.m. the day before the Portland Fish Exchange Subcommittee meeting to guarantee their inclusion in the Agenda packet. 1. Committee Chair Comments 2. Approval of April 9, 2026 Meeting Minutes a. See attached minutes from April 9, 2026 Action Item - Public Comment 3. Portland Fish Exchange Manager's Report a. Fish Exchange Manager's Report Discussion and vote to recommend to the Portland Fish Pier Authority to apply for a 4. SEA Maine Grant. a. See Maine Energy Experts' presentation on a potential solar panel installation at the Exchange. Action Item - Public Comment 5. Old Business a. Summer Intern Update 6. Next Regular Meeting Date: June 11, 2026 7. Other items not on the agenda. 8. Adjournment Page 1  DRAFT Draft Meeting Minutes Portland Fish Pier Authority - Portland Fish Exchange Subcommittee April 9, 2026 3:30 PM Subcommittee Member Attendees: John Arnold, Mike Foster, Mary Hudson, Matt Moretti. Staff present: Kaela Gonzalez, Heather Moretti, Robert Vanmeter Approximately two (2) members of the public attended. 1. Committee Chair Comments: Mary Hudson chaired in the absence of Tracy Pearce. ​ 2. Approval of March 12, 2026 Meeting Minutes Motion to approve Meeting Minutes for March 12, 2026. Arnold, 2nd M. Moretti Approved by consensus 3. Portland Fish Exchange Manager’s Report ​ Robert Vanmeter presented the manager’s report verbally. Highlights are as follows: ●​ 7 Auctions in March ●​ 135K landed (budgeted 75,000) ●​ 31K Contract unloads (budgeted 0) ●​ 650K in pumping YTD (budgeted 1.2M) ●​ Current receivables are $152,000 ●​ Checkbooks are at $56,000 ●​ Checkbook average $55,00 (Low of $21,00; High $130,00) ●​ Currently using $70,000 from LOC ●​ $50k from cash reserve is available The Eleanor J., Josephine L, and DD Mae II are actively fishing for the exchange. The F/V Eleanor J has completed two redfish contract unloads for Tri-State, generating over $11,000 in revenue. Routine spring projects include scraping and painting interior and exterior surfaces, pressure washing, cleaning roofs and gutters, and repairing offload chute parts. A second offload station will be set up across from the existing one on the eastern side of the Extension Pier to eliminate vessel repositioning delays and provide operational redundancy. Vanmeter expects this to be completed within the next couple of weeks. The new control system wiring for compressors, condensers, and evaporators is nearing completion and is expected to be done in seven to ten days. New lamp posts and running pipe for shore power units—will start April 13, 2026. Thomas Bailey joined the team on April 6th as the new part-time office administrator. He is a veteran with IT experience and is studying business and management. Page 2  DRAFT 4. Discussion on funding opportunity for Portland Fish Exchange through SEA Maine funding. Heather Moretti recapped the SEA Maine Seafood Infrastructure Adaptation Fund reimbursement-based grant (application due June 30th) which funds projects from $75,000 to $300,000 with a 5% required match. Heather Moretti has identified installing solar panels as a potential project for this funding. Sam Legere with Maine Energy Experts presented to the subcommittee how solar panel installation would benefit the PFEX. The PFEX uses approximately 872,000 kilowatt hours annually, resulting in an average annual electricity cost of $150,000 or $12,358 monthly. If installed, the PFEX would qualify for a potential 40% federal tax credit (treated as a cash rebate for non-profits) if domestic panels are used. A CEI loan is available at 3.5% over 7 years to cover cost overage if needed. The PFEX would also receive S-RECs (Solar Renewable Energy Certificates) of $33 per thousand kilowatt hours produced, guaranteed for 10 years. Legere outlined two options, keeping in mind that anything in between is always an option: ●​ Smaller System (24% offset): A $500,000 system, if funded by the $300,000 grant and 40% tax credit, would result in a $0 net cost and generate $574 in average monthly income from S-RECs. ●​ Maximized System (70% offset): A $1.4 million system with a net cost after incentives of $562,000, resulting in a net average monthly payment of $5,904 for 7 years (loan + remaining CMP bill). This would be a significant reduction in cost after the 7-year loan period. ​ Vanmeter noted the roof (replaced in 2010) needs a structural engineering check. Legere offered to cover the cost of this structural review. Foster raised a concern that the city previously issued a "hard no" on installing any additional structures or making penetrations to the roof. Heather Moretti will follow up with facilities regarding roof approval before the full board meeting next week to determine if the project can move forward for the June 30th grant deadline. 5. Discussion on alternatives to a line of credit for buyers. ​ The current requirement of $10,000–$15,000 line of credit or cash deposit is a barrier for new, small buyers. Vanmeter confirmed the deposit acts as insurance against buyer delinquency, having been used a couple of times previously (Cozy Harbor, Austin Seafood). Robert Vanmeter suggested lowering the deposit to $5,000 for local buyers. He also noted the exchange could adjust to handle smaller lots (e.g., 100-pound lots). The subcommittee agreed to hold further discussions on developing a formal proposal for lowering the barrier to entry before presenting a final recommendation to the full board. ​ 6. Old Business ​ Vanmeter received a short list of intern applicants from USM. Heather Moretti will assist with interviews. Hudson and Heather Moretti will meet offline to discuss the impact and viability of the landing incentive fee reduction project. 7. Other items not on the agenda. Page 3  DRAFT No other items were discussed. 8. Next Meeting: May 14, 2026 9. Adjournment: ​ Motion to adjourn ​ Arnold, 2nd Moretti ​ Approved by consensus The meeting adjourned at approximately 5:00 p.m. Page 4  PORTLAND FISH EXCHANGE Management/Financial Report for May 2026 GF Landings – Auction Actual Budgeted Variance April 2026 – 7 104K 125K (21K) GF Landings – Auction Actual Budgeted Variance April 2025 - 7 31K 225K (194K) Contract Unloads - GF Actual Budgeted Variance April 2026 21K 0 21K Total GF Land/Unloads Actual Budgeted Variance April 2026 135K 125K 10K Pumping Actual Budgeted Variance 2026 YTD 650K 1.2M (480K) Financial Report Net Income Budgeted Variance April 2026 ($39,623) ($57,409) $17,786 Financial Notes • $70K of $250K LOC currently in use. • $50K Cash Reserve in use • Current receivables are $125K consisting of rent, buyer fees, berthing, net yard use, bait storage, barrel storage & warehousing • Current checkbook is at $28K before payments to vendors, fleet, and payroll • High checking balance for the month was $125K, a low of $28k, and an average of $75k. • Insurance premiums renew at the Exchange annually on April 1st. The stevedore premium that provides liability coverage for loading and unloading cargo from vessels, is paid in full at time of renewal. $11,775 was the total for this year. The MEMIC policy, covering workers compensation, totaled $3361and is paid in monthly installments. Page 5 April Auction Sales • Of the 104,573 pounds landed at the Exchange for the month of April, 70,707 pounds were sold during the normal bidding process to one of our Exchange buyers - seat holders. • 29,873 pounds were scratched or not bid on, but still sold through the auction as After Auction Sales. • 3993 pounds were refused by the seller to be sold on the Exchange auction platform. All scratch and or no bid fees are applied and the fish is given back to the seller to do with as they will. As stated in the Exchange rules and regulations, ‘Refused or No Bid fish remains the property of the seller and may be removed or left for the next auction.’ • Zero pounds were left on the floor for the next auction. Operations Notes • Seafresh has decided to discontinue its business with the Exchange due to challenges with staffing and the high cost of housing during the tuna season in Maine. • The University of Maine will be returning and will utilize the space on the western wall of cooler, previously occupied by Seafresh, from the end of May through the conclusion of the tuna season. Facility Report • The installation of the new cooling control system has been successfully completed. Training is currently being conducted in coordination with Miller, and the system has been operating without issue. • The shore power project is currently underway. Installation of new lighting on the extension pier has been completed, along with the installation of new power shutoff units. New conduit has been installed in the net yard, with additional conduit work ongoing on the extension pier. Phil will be able to provide a more detailed update next week. Staff Report • Since joining us, Thomas Bailey, our new administrative assistant, has excelled in his role and has become a great fit within the Exchange team. Page 6 New/Returning Vessels • The F/V Eric Sprague began landing fish during the week of April 27. The vessel is a small hook-and-line operation, and the initial landing produced excellent results. New / Returning Buyers • Nothing to report Rules & Regulations • Clarify what “Seller Representative” means in the Rules and Regulations and discuss alternatives to avoid ambiguity. Page 7  Portland Fish Exchange PRESENTED BY SAMUEL LEGERE Page 8 Questions Page 9  Get To Know Maine Energy Experts WHO ARE YOU WORKING WITH WHY IT MATTERS WHAT THIS MEANS TO US Page 10 Overview Of Today's Presentation Topics 1 4 BASICS OF SOLAR 2 HOW MUCH SOLAR WILL SAVE YOU 3 COMMONLY ASKED QUESTIONS LIFE SPAN / WARRANTY, MAINTENANCE, STRUCTURAL CONCERNS 4 Q&A 5 NEXT STEPS Page 11 Understanding How Solar Energy Works Page 12  RENT FROM CMP Rent vs. Own START PAYING YOURSELF Page 13 Where Maine Is Headed Page 14 Rates Over Time Page 15  Current Monthly Bill Total kWh Annually: 872,381 kWh Rate (S&D): 0.17 Annual Cost: $148,304.77 Monthly avg. Cost: $12,358.73 Page 16 How Much Solar Will Save You Page 17  Current Incentives SEA Maine Grant: up to $300,000* Tax Credit: 30% of costs Domestic Tax Credit: 10% of costs* CEI loan: 3.5%-5%* SREC’s: $33 per 1,000kWh Page 18  Smallest System Size Cost Breakdown: Gross cost: $500,000 SEA Grant: - $300,000* Tax Credit: - $150,000 Domestic: - $50,000 Net Total: $0 SREC’s: $574.75 Page 19  Estimated Max System Size Cost Breakdown: Gross cost: $1,436,803 SEA Grant: - $300,000* Tax Credit: - $431,040.9 Domestic: - $143,680.3 Net Total: $562,081.8 Payment Breakdown: CEI-7 Year 3.5% $7,554.30 SREC’s: - $1,650.00 Net Monthly Avg: $5,904.3 Page 20  Estimated Max (Worst Case) Cost Breakdown: Gross cost: $1,436,803 SEA Grant: $0 Tax Credit: - $431,040.9 Domestic: - $143,680.3 Net Total: $862,081.8 Payment Breakdown: CEI-7 Year 3.5% $11,586.25 SREC’s: - $1,650.00 Net Monthly Avg: $9,936.25 Page 21  Rent vs Own Smallest Max (best) Max (worst) 209,229 kWh 599,447 kWh 599,447 kWh Page 22  Commonly Asked Questions Life Span / Warranty 25 YEAR WARRANTY 60 YEAR LIFE EXPECTANCY Structural Concerns STRUCTURAL ENGINEERING STAMPS NO LEAK GUARANTEE Maintenance CLEAN EVERY *1-5 YEARS* NOTHING MECHANICAL = 0 MAINTENANCE Page 23 Q&A Page 24 Next Steps Page 25