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Marina redevelopment talks continue; city prepared $26M back‑up plan if private deal stalls
Summary
City staff told council negotiations with Safe Harbor (new parent Blackstone/BlackRock reported) are ongoing; the city has drafted an agreement and would pursue a $26 million marina redevelopment option if a private operator deal does not finalize.
City staff briefed the committee on ongoing negotiations over the redevelopment of the municipal marina following the Safe Harbor transaction. Administration said it has provided a draft agreement to the marina operator’s legal team and expects a red‑lined response in the coming week. Staff also said they were preparing a contingency budget in the Marina Capital Projects Fund that would let the city proceed with redevelopment work if a private operator arrangement is not…
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