TAMPA - The Tampa Port Authority today agreed to waive $439,000 in debt it claims is owed by the operator of Channelside Bay Plaza.

The move allows the port to secure an operator more in line with original goals for the Channel District complex and avoids litigation with the current operator.

Board members expressed reservations that the taxpayer-supported port authority would give up the money in a case they thought the port could win, but they chose to move forward to resolve longstanding financial and operating issues with the complex.

The port authority owns and leases land to Channelside Bay Mall LLC, which in turn leases buildings to restaurants, entertainment and retail outlets.

Some tenants in recent years have created an adult party atmosphere that has raised the ire of Channelside patrons and shopkeepers, along with nearby residents and city officials.

The operator of the Channelside complex has been sued by the port authority and the Anglo Irish Bank Corp., which provided it a $27 million mortgage.

The port contended Channelside Bay Mall was in arrears paying for use of the Channelside garage and had let the mall's appearance deteriorate. The bank said the mall was nearly $500,000 behind in mortgage payments.

The operator, in turn, sued the port authority, claiming the port authority implemented unfair parking rules among other breaches of its lease.

The board's attorney will see whether the operator will drop its counter suit and Anglo Irish Bank would move to secure a receiver for the complex.

The goal would be to get Channelside Bay Plaza into the hands of the bank that would secure an operator in line with the city's retail philosophy, said Tampa Mayor Pam Iorio, who is a port authority board member.

"Our current situation is we have someone in control of a lease that we do not have a relationship with," Iorio said.

Anglo Irish Bank is seeking through a legal filing to appoint Chuck Taylor of Madison Marquette as the receiver for Channelside Bay Plaza. That company operates Hyde Park Village in Tampa.

In other business:

The port authority agreed to waive $2.5 million in guarantees that have gone unpaid over a two-year period by Trinity Materials, whose aggregate and cement business was devastated by the state's building slump. The port will get $350,000 as partial consideration to terminate Trinity's lease and take over a dock that Trinity built. Trinity had remained current in paying $399,000 in annual rent since 2007.

Port Director Richard Wainio said he had made a pending deal to obtain a used covered passenger bridge for $25,000 from Port Everglades to improve Terminal 6. It will cost $30,000 to ship the bridge to Tampa. A new bridge would have cost between $1.4 million and $1.5 million port officials said.

Reporter Ted Jackovics can be reached at 813-259-7817.