This issue puts us in a unique situation. It's rare that an issue that could affect a signficant segment of our members (marinas) is one where we do not take a position on. This is one of those examples. With winners and losers on both sides, NMTA has not weighed in on Senate Bill 5550, which has to do with how marina rents are calculated.
As for the latest, this bill is back from last year with a bit of new language. It's important to note that it does not impact yacht clubs. While we are not taking a position on this bill, you can count on me to provide you with the latest news on it (either here on the blog or you can email me at peter at nmta.net)
As for the latest iteration, SB 5550 establishes a marina lease pilot project in two markets (San Juans and Tacoma). According to the lobbyist who is advocating for the change, the pilot allows DNR to reduce the lease rates of those marinas above the 45% average lease rate within their five-mile competitive market radius if the marina or uplands are subject to public access requirements as detailed in the language.
As for the latest, this bill is back from last year with a bit of new language. It's important to note that it does not impact yacht clubs. While we are not taking a position on this bill, you can count on me to provide you with the latest news on it (either here on the blog or you can email me at peter at nmta.net)
As for the latest iteration, SB 5550 establishes a marina lease pilot project in two markets (San Juans and Tacoma). According to the lobbyist who is advocating for the change, the pilot allows DNR to reduce the lease rates of those marinas above the 45% average lease rate within their five-mile competitive market radius if the marina or uplands are subject to public access requirements as detailed in the language.
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