The Port of Poulsbo’s paid-parking lot on Jensen Way is just about finished. But something important is missing: Parking rates.

Port officials haven’t decided yet how much parking will cost at the lot, or the parking duration that will be allowed, which comes as a surprise since the Port bought the site for parking lot development in 2009, and we’re entering the season when the parking lot will be of most value.

A lot of public dollars have been spent on this site, formerly the site of the National Guard Armory. The Port bought the site for $511,000, demolition of the Armory cost about $85,000 (not including removal of the concrete floor), and parking lot development cost about $236,000.

There’s a need for public parking, particularly for users of the Port. The lot will provide 52 stalls, a needed increase over the 12 parking spots for Port customers near the Poulsbo Marine Science Center.

The new lot is a site improvement, it’s going to meet a need, and it was developed at considerable public expense. The Port should have a parking rate structure in place so the lot can begin paying for itself as soon as the paint is dry on the last parking stall.