Port approached about leasing marinaPort Authority President Mike Grove has been approached by multiple parties about the possible sale of Ole Miss Marina in Red Wing, though “sale” is taking on a slightly different meaning than usual.
By: Regan Carstensen, The Republican Eagle
Port Authority President Mike Grove has been approached by multiple parties about the possible sale of Ole Miss Marina in Red Wing, though “sale” is taking on a slightly different meaning than usual.
“We are not talking about the sale of the land, but just the right to lease and operate the marina,” Grove explained to the rest of the Port Board at its meeting Tuesday night.
Grove said the inquiries may make this a good time to start discussions about the port’s options involving the marina, such as whether leasing it should be considered.
The Port Authority purchased Ole Miss Marina more than a decade ago and still has $920,000 outstanding on its bond.
The port is not in any active negotiations about the “sale” at this time, and it’s unknown whether the parties that showed initial interest will ever come back and put in a bid.
“But I think it would be wise for us to concurrently plan,” Grove said.
He suggested the board form an exploratory team composed of a pair of Harbor Commission members and a pair of Port Authority members to search for answers to important questions surrounding the marina should the port be approached again.
A couple of things to research, Grove said, would be the possible negative and positive effects of leasing as well as the potential amount of income that could result.