Town plans for Frisco Bay Marina 2005 season
FRISCO ” Town officials are heading into the uncertain waters of Frisco Bay as they launch their plans for the 2005 boating season.
Officials expect the marina will fund itself in the long run, but it will require a substantial initial investment from the town, most likely in the form of a $900,000 loan from the general fund.
“This budget is intended to create a seamless transition from Osprey to the town of Frisco,” said town manager Michael Penny.
The town opted to take over the day-to-day operations of the Frisco Bay Marina earlier this fall when contract negotiations broke down between the town and Osprey Adventures. Osprey ran the popular summer recreation amenity on Dillon Reservoir as a concessionaire for the past 16 years.
In its first year at the marina’s helm, the town will make about $500,000 in capital purchases, including a proposed 25 canoes and kayaks, four fishing boats, four pontoon boats, a new dock, racks, paddles and other items.
The town also plans to construct a small food and beverage outlet ” The Oasis ” to rival Dillon Marina’s Tiki Bar.
In addition to the capital costs, the loan from the town will cover an estimated $235,000 in annual marina operating costs, like staff salaries, advertising, marketing, utilities and equipment.
Assistant town manager Theresa Casey hopes to hire an experienced marina manager as early as January.
“I have gotten over a dozen applications ” the farthest away was from Hawaii,” Casey said. “The first season will be a building season. We’ll try to build names, lists and customers in the first year. We think we’re headed in the right direction.”
Rough estimates project about $300,000 in revenues during the first year from rentals, retail sales and customer use of slips and moorings.
The council directed Penny and his staff to come up with the terms of the loan ” including an interest rate and repayment schedule ” so taxpayers don’t end up footing any marina bills.
“To do this with a straight face, you have to look at the money we have invested and look at the money we don’t get by investing this (into the marina),” Mayor Bernie Zurbriggen said.
The council expects the marina fund to begin repayment to the town in three to five years.
The Marina office and store is closed until further notice. Casey is fielding calls from boat owners interested in winter storage and in slips and moorings for next summer. The town will keep the 2004 prices for storage, slips and moorings and will attempt to get boat owners into their same slips or moorings for 2005.
Casey encouraged boat owners to contact her at (970) 668-5276, ext. 3042, or at email@example.com.
Julie Sutor can be reached at (970) 668-3998, ext. 203, or at firstname.lastname@example.org.
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