Harbor Commission reports near‑$1 million in revenue, proposes capital‑recovery fee for future dredging and dock work

Roy Childers, chairman of the Belmar Harbor Commission, told the Borough Council the marina generated nearly $1 million in revenue last year and is at almost full occupancy.

Childers said fuel sales totaled about $320,000 and net slip revenue was roughly $656,000, for a combined harbor revenue figure he described as $976,000. He said the commission has started a capital‑recovery fee added to fuel sales to build a sinking fund that can be used for future docks, dredging and capital repairs rather than relying solely on bond issues.

"One of the next projects we do, we might not have to take out bonds or not nearly as much money," Childers said, describing the new fee as a step toward steady capital planning.

Childers also reviewed operational and administrative changes: a promotion of the marina supervisor to provide more autonomy for day‑to‑day operations and efforts to standardize rates and discounts after recent renovations increased slip revenue. He noted the commission has been coordinating with state and county agencies — including New Jersey Department of Transportation and Monmouth County — to improve communication around bridge openings and other events that affect charter boat captains and marina users.

The commission reported paying the last principal and interest on a previous bond in December 2023 and said it had approximately $1.44 million identified for capital funding going forward, with an anticipated principal and interest payment of about $221,000 that is lower than prior years.

Childers said the Harbor Commission intends to provide an annual status update to the council and public. Council members thanked the commission for the report.