Operation of the Skaha Marina will be taken over by the Penticton Yacht Club. (File photo)

Operation of the Skaha Marina will be taken over by the Penticton Yacht Club. (File photo)

City of Penticton inks deal for Skaha Lake Marina

The Penticton Yacht Club was given final approval for their 25 year contract

City council gave the final approval for the Penticton Yacht Club (PYC) to take over operating the Skaha Marina.

On Tuesday, during a special meeting, council voted unanimously to give the green light to PYC to run the marina for up to 25 years. The contract is the result of a year-long process.

“It’s so good to see some solid long term management come to this marina and I’m looking forward to seeing some of these long-overdue improvements,” said Coun. Katie Robinson.

“I think it’s going to be a real boon to our community, to tourism, to our locals who use it on a daily basis and I can’t say enough about how glad I am to see this day finally here.”

The operating agreement stipulates the PYC pay the city $45,000 a year as well as put up $565,000 in upgrades to the marina over the first five years. The lease rate will be adjusted based on the inflation rate.

A local business person and his company will also be investing $2.5 million into a licensed brew/pub-style restaurant at the marina through the approved proposal.

READ MORE: Council set to vote on 25-year marina operating agreement with Penticton Yacht Club

The contract involves numerous measures to address financial reporting as well as to protect the city and taxpayers in case of anything happening involving the operation of the marina.

“I think it’s been made very clear what the city expects and nobody can call foul and say that we didn’t know,” said Coun. Julius Bloomfield. “What happens if it goes wrong, that section is four pages long, so I think there’s very clear and direct language in there if things don’t go to plan.”

The agreement also includes provisions for termination for non-payment, failure to deliver the services expected and breach of the agreement with the city.

It will also require a business plan and performance review every three to five years, according to the city.

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Municipal Government