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Committee advances 10-year lease for 1,600 feet of river mooring to SCF Fleeting at above-market rate
Summary
The Transportation and Commerce Committee voted to advance Board Bill 145, a 10-year lease of about 1,600 linear feet of mooring on the Mississippi River to SCF Fleeting LLC, at a first-year rate of $125,000 with 3% annual increases and options to extend. The Port Authority said SCF was the sole bidder and the rate exceeds standard charges.
The St. Louis Board of Aldermen Transportation and Commerce Committee on Jan. 30 voted to advance Board Bill 145, authorizing a lease between the City of St. Louis and SCF Fleeting LLC for approximately 1,600 linear feet of mooring along the Mississippi River near the Near North Riverfront.
The lease as described in committee will run 10 years at $125,000 for the first year, increase by 3% annually, and include three mutual options to extend by five…
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