OXNARD, Calif. – Vintage Marina Partners has been selected over seven other competitors by the Ventura County Board of Supervisors to operate and renovate the marina at Channel Islands Harbor, the Los Angeles Times reported in an article today.
The new operator has committed to investing $12 million into the 525-slip marina, including building new docks, renovating restrooms and improving picnic areas, the newspaper reported.
It will pay a lease fee of $700,000; and for rent, the operator will pay 25 percent of profits, or about $400,000 per year.
Under the contract, the newspaper reported that Channel Islands Yacht Club, a subtenant, could negotiate its own lease over the next year.
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