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Council to review sub-lease for Picton Marina

Councillors will review a draft sub-lease to operate the Picton Marina which has not been profitable under municipal operation and will save the County $30,000 to $70,000 annually.

Tenacity Capital was the only proposal received to operate both the Picton and Wellington marinas.

CEO and founder CJ Thompson seeks a signed lease prior to incurring expenses related to the project, with plans to have the Picton marina open for next spring.

The lease agreement would be for five years, at an annual rent of $1 with the right to renegotiate at second renewal of sub-lease.

Although originally proposing to operate only the Picton Marina, Tenacity Capital agreed during negotiations to also include the Wellington Marina operations in the sub-lease. However, as negotiations continued, the future of Wellington Beach and Wellington’s Belleville Street boat launch were being deliberated by council due to the high volume of traffic and associated health, safety and logistical issues.

Due to the now unpredictable situation of the Wellington Marina, Tenacity Capital has requested the right of first refusal to operate when its future is decided by council.

“Staff is recommending an annual rent of $1 for the operation of the Picton Marina for the first five years of operation, and first subsequent sub-lease renewal.

“Tenacity Capital will be investing in, and significantly developing the marina property and their adjacent property as a family-friendly, community-centered marina with a view to increasing the economic development opportunities of the property and surrounding area,” said Emily Cowan, Community Programs Supervisor, in her report. “They will also be required to submit 10 per cent of their revenue annual to the Ministry of Natural Resources, as per the current Head Lease.”

The County is bound by the MNR lease for the Picton Marina and Harbour until 2033 and Wellington Marina and Harbour until 2041. The County may sub-lease these properties as long as the MNR is informed of details. MNR lease terms included that any buildings erected by a tenant or sub-tenant are subject to removal at the expiry of the 25-year leases.

Picton Marina and Harbour currently operate under Open Space zoning, Tenacity Capital has requested that the property be rezoned to Tourism Commercial.

Staff agree marina usage better suits this new zoning and would bring forward the rezoning to council later this year.

Approval to come before council at its Sept. 22 meeting.

Filed Under: Local NewsSports & Recreation

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