Fort Wetherill Boaters Extend Lease on Marine
August 31, 2015
Fort Wetherill boaters have agreed to a 5-year extension with the town to lease the 42-slip boat basin located near the state park [in Jamestown, RI].
According to Jamestown Town Administrator Andy Nota, the Fort Wetherill Boat Owners Association exercised the final available option of its contract. The deal was negotiated by Nota, and the boating association will pay 9% more in the first year, compounded annually by 3% until 2020. The paperwork was signed on Aug. 18 following authorization from the Town Council.
The association is currently paying an annual fee of $27,500 to lease the boat basin. Next year, the town will be owed $30,000, followed by $30,900 in 2017, $31,827 in 2018, $32,782 in 2019, and finishing at $33,765 in 2020.
Read more about the deal by the Fort Wetherill Boat Owners Association to extend their marina lease.