WATCH ABOVE: Hefty increases of leases at marinas operated by Port Metro Vancouver have local business owners concerned about their future. Elaine Yong has more.
VANCOUVER - A group of marina owners say they are facing an end to their livelihoods if they can’t convince Port Metro Vancouver to back down.
The Port slapped increases of up to 300 per cent on the water-lot leases along the Fraser River starting last year.
It says it had to increase the rates to reflect the current industrial land values.
But that has angered several marina owners who claim the extra costs are completely unreasonable and are too high to be passed down to their tenants.
They’ve had several meetings with the port, and while some have had their rates lowered from the original increase, it’s still more than double for some of the owners.
“The main thing is the rent is exorbitant,” said Dorothy Leighton from the Community Residential Waterlot Leaseholders Association. “It’s based on a very old method, antiquated and obsolete, and the port should really be reviewing their policy.”
Marina owner Ron Francis said his rent is going from $6,400 to $33,000. “He wanted a 10,000 deposit. But I said there’s no way the marina pays that much.”
© Shaw Media, 2014