An announcement on the future of Wanganui's port is imminent.
The Wanganui District Council has conducted ongoing negotiations with prospective partners to be involved in the port's operation, which it has whittled down to one.
Given the commercial nature of the arrangement, the identity of that preferred partner has never been divulged.
However, Councillor Rob Vinsen, chairman of the council's audit, risk and finance committee, said a deal was near to being finalised.
"We've got a meeting of Wanganui Holdings next week, and that's due to discuss the ongoing negotiations with the port, so I would say an announcement is imminent," Mr Vinsen said.
Council called for expressions of interest to operate the port as a commercial concern last year, and he said the holding company had been negotiating with a company "experienced in port operations".
The district council bought back control of the port and harbour endowment lease from River City Ports for $2.75 million in September 2010, ending several years of legal wrangling.
Wanganui District Council Holdings Ltd manages the port business on behalf of the council.
The port and harbour are not funded from rates because costs are met by the revenue generated from harbour endowment assets.
Council has also been liaising with Horizons Regional Council on deferred maintenance work, especially at the Whanganui rivermouth, which includes the moles.
A working group has been looking at future needs for the port area for recreational users, and that includes user-pays facilities for infrastructure, such as the boat ramp at Wharf St.
The council's draft annual plan said any commercial future for the port depended on entering into a business relationship with the private sector.
While council has considered ways of managing a commercial port, its preferred option is to bring in a partner with resources and business experience to "add value" to the port operation.
That could involve running the port through a council-controlled organisation (CCO).
Aware the demand for coastal shipping had waned, the draft annual plan said one opportunity was improving facilities at the port for recreational users, which would include the several hundred members of the Wanganui-Manawatu Seafishing Club.
Council set up a new company, Wanganui Port Ltd, to operate the commercial side of the port and that came into force from July 1 last year. Interim directors are Mr Vinsen and Councillor Sue Westwood.