The northern site may be further away from Hatty, but honestly, I don't expect the war with Hatty to be terribly difficult. In fact, Bronze may come in very handy for us (Spearman > War Chariot) which we would not get with the Dye port. That being said, yes, for the Spanish war, the northern city has less logistical and defensive value. However, it may be inevitable that we war against Lincoln as well, and I would hate to see him gobble up this good site early on, when we won't be able to dislodge him.
First of all, I totally respect your faction and you as an excellent leader. That being said, its not a safe assumption that the war with the spanish will be easy. As our second city, and probably second biggest city at the expected time of the rush. We are going to need you. This wars spoil will pave your churchs and faith.
Also that site is 7 tiles away. My worker crews would not be able to road that very soon and you would have limited initial military support. It would be 7 turns away from help at the begining. Much to late to quelch an uprising or a siege. I agree that site is lucrative. But at turn 40 with a warrior i think it would be a death wish.
Agian the choice is yours.