Description
Marinas are most often developed and operated with private investment and require professional management of the complex interface between public access, operational health and safety, environmental control, industrial activities, tourism and community activities. Essential to their long-term viability and consequential delivery of high-quality public benefits is an investment framework that provides investment certainty through both security of tenure and affordable seabed and land rents within the range of Sustainable Occupancy Cost. Unsustainably high occupancy costs typically lead to poorly maintained, operated or abandoned facilities delivering poor community outcomes. The financial criteria for public land tendered for marina development by way of lease should be based on a clear understanding of the Sustainable Occupancy Cost for a given marina development taking into account the various uses on the site and the length and certainty of lease tenure as determined by suitably qualified professionals. This can be then translated to a lease fee per surface unit for the land and water area covered, if required, to enable a suitable analysis of tenders
