Creating a Fair Market Approach to Lease Rates for Marinas

Whereas under the Canada Marine Act the federally governed port authority is required to set the lease rate structure for water lots at market value and Nanaimo Marina owners contest that the Nanaimo Port Authority lease rates structure does not represent a fair market approach; And whereas the Nanaimo Marina owners recommend a fair market model based on business owners income: Therefore be it resolved that UBCM advocate for a lease fee model that is based on a fair market approach for all port authorities.