Waterfront Property Brings In Revenue
The City of Sarnia’s decision to purchase waterfront property over a decade ago is starting to pay off.
Mayor Mike Bradley says the acquisition of the law office and adjoining parking area on Ferry Dock Hill in 2003 could bring in $85,000 to $98,000 in revenue annually starting in 2018.
He says a report to extend the lease and license on the land comes back to council Monday.
“They’ve been excellent tenants. We have the right to vacate the property with two years notice,” says Bradley, noting it’s more of a security clause. “It’s brought an income, which has paid for the purchase of the property.
“Now any additional income will be to the benefit of the taxpayers.”
The law office is currently entitled to parking lot usage during regular office hours, which then reverts to general municipal use during the evening hours and on weekends and holidays.
The City of Sarnia currently owns the entire length of Sarnia waterfront extending from Devine St. northerly to the Sarnia Harbour.