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Council members press for firm answer as Safe Harbor ownership change clouds marina deal
Summary
Council members pressed administration for a clearer timeline on a marina redevelopment agreement after Safe Harbor’s parent company changed ownership. Staff said a red‑line of a draft deal was expected next week; council members said they want a decision soon and raised concerns about private equity ownership.
Council members pressed the administration for a clearer update on plans to redevelop the city marina after the private operator Safe Harbor was taken over by a private equity buyer.
Staff said the city provided a draft agreement to Safe Harbor and was awaiting a "red line" from the operator's attorneys; as of the meeting staff said they were told the red line was expected next week. "We have provided a draft agreement to their attorneys, and we are waiting now a red line," a staff speaker told council members.
The agreement's prospects became more politically sensitive after news that Safe Harbor had been acquired by a private equity firm. Council members voiced concern about the buyer's reputation and about the timing of negotiations. "I have no intention on us spending multimillions of dollars for the city to redevelop the marina," Council member Gabbard said, repeating her long‑stated preference for a private developer rather than city capital outlays.
Staff said the FY26 CIP retains a $26 million placeholder for a marina redevelopment in case a private agreement does not close; if the private operator deal moves forward, the city would not use that appropriation. A staff presenter said the $26 million figure is conditional, and the city was preparing contingency plans to self‑perform a redevelopment if negotiations fail.
Council members requested that staff notify the council when the operator returns marked contract language. One staff member said their latest information indicated the operator would provide a red line next week and that the administration would review it and return to council as appropriate. "As of this morning, the latest update I have is they will have their list of kind of red line version back to us next week," the staff speaker said.
Some council members called for a cautious approach if the buyer remains a private equity firm, citing reputational and contract detail concerns. Others urged moving quickly, saying the marina requires capital work and that the city's financial exposure should be minimized.
Ending note: Staff said the city will continue negotiations with the operator and simultaneously maintain a public‑owner contingency. Council members asked for an immediate email update when the operator returns comments on the draft agreement.
