Redevelopment of the Marina
The City’s Municipal Marina is composed of docks and support facilities spanning the Central (“CYB”) and South (“SYB”) Yacht Basins along our Downtown Waterfront. The CYB docks were built in 1963 and four of the five SYB docks were constructed in 1977. The facilities have been well maintained over the years, but with time and exposure to the aggressive saltwater environment the infrastructure has reached the end of its service life.
The City is requesting City Council approval to place a referendum on the November 2, 2021 general election ballot seeking approval of a lease of the Marina to St. Pete Marinas’ LLC (with a 3rd party guarantee from Safe Harbor Development, LLC). The lease would require the lessee to fund the redevelopment of the Marina (estimated to cost $30 Million) and operate the Marina for 25 years. A public hearing on this item is scheduled for August 12, 2021.