The Penticton Yacht Club will be operating Skaha Marina for the next 25 years, the City of Penticton announced on Wednesday.
According to the city, the Penticton Yacht Club’s proposal to manage the marina was selected following an earlier call-out for proposals.
The city said the yacht club’s proposal was one of three submissions received by the review committee. The yacht club currently operates a 450-boat marina on Okanagan Lake in Penticton.
It was reportedly selected for a number of reasons, including revitalizing marina lands; protecting and enhancing parkland; and best meeting the objective of securing a long-term investment.
The city said the proposal includes an annual payment of $45,000 to the city and initial capital upgrades valued at around $565,000 during the first five years.
“Also included in the PYC’s proposal is a $2.5 million investment to revitalize the current marina building into a licensed restaurant, accommodations for the existing café, opportunities for design containing indigenous and cultural expression and additional parking,” said the city.
“Relocating the boat storage and boat repair off-site and creating a boat valet service from an off-site storage facility is also included in the proposal.”
The Penticton Yacht Club is a non-profit society.
Penticton mayor John Vassilaki called the decision “a big step towards council’s goal of realizing the community-led vision contained in the Skaha Lake Park East Plan.”
The city said once negotiations are complete, the Penticton Yacht Club will start working with the current operator and begin implementing its plan for the marina.