ICOMIA Marina Leases and Concessions Paper

Description

Marinas are mostly privately funded and play a key role in supporting the local economy. Marinas are the catalyst for marine tourism economic activity and it is estimated that for every one unit of currency spent in a marina a minimum of an additional five are spent in the surrounding community.

The availability and terms of government concession/licenses/leases affect both the initial and ongoing investments of marinas. Key challenges that marina investments face include the physical aspects of the proposed anchorage, planning law and environmental constraints, as well as lease contract and funding. Marina concessions are many decades-long and payback periods on marina investments are very lengthy. 

The aim of this paper is to provide lease and concession principles that encourage and support investment and ongoing enhancement and adaption of maritime properties and the development of value in business goodwill to meet the current and changing needs of the boating public and broader community.