A Lakeview Park Marina sign. (Photo by Alexandra Latremouille)A Lakeview Park Marina sign. (Photo by Alexandra Latremouille)
Windsor

Floating dock at Lakeview Park Marina could go way over budget

Windsor City Council has a tough decision to make. It can either spend another $2 million on the planned floating dock at Lakeview Park Marina or lose a lot of money.

When councillors approved the plan to demolish the existing docks, build new ones, install new electrical infrastructure, and a new security system, it put aside $3 million for the project.

The marina was closed down last May when high water levels made the docks unsafe, but it was not the only one forced to contemplate a rebuild, and now the cost of construction has gone up substantially.

Lakeview Park Marina has been closed this season due to dangerously high water levels submerging the current wooden docks and hydro boxes. July 8, 2019. (Photo by Paul Pedro) Lakeview Park Marina has been closed this season due to dangerously high water levels submerging the current wooden docks and hydro boxes. July 8, 2019. (Photo by Paul Pedro)

If the city wants to reopen the marina for the next boating season, much of the work will take place during the winter adding to the bottom line.

Some of the suggestions received during a public open house have proven pricey.

If the council spends the money, it will have enough slips for 222 boats, including larger ones that measure over 60 feet in length. The additional room and greater security and wifi access could boost revenues at Lakeside by $360,000 a year.

If it does not, it will have to eliminate 93 slips or three docks, reducing income by $175,000 a year, while fixed costs like utilities and staffing would stay the same. The loss of fuel sales would further reduce revenue by $150,000.

Choosing not to spend the money could have other consequences too. The project would have to go back to the design phase, delaying construction, and boaters would have to find other accommodations resulting in the loss of rental fees.

The city filed an insurance claim for replacing the docks, and the loss of revenue in 2019, but it has not been processed. Reimbursement will be used toward the project, but Lakeview will still be on the hook for a $100,000 deductible.

A report to councillors recommends using unallocated money from its Federal Gas Tax reserves, and another $900,000 set aside for 2023 in its eight-year capital budget.

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