*Correction and update 3/22/2022 11:32 am: Correction: Bill Greenwood let us know that the lease is $15,000 per dock bringing the per slip cost down to $576.93 per year for the two companies lucky enough to be selected. Update: As a reference Online listings from local boat rental companies indicate boats rent from $500-$1,000 per day. General Services Committee met 3/21 and moved to daylight this item by placing it on city council’s agenda and seek public input.
The Coeur d’Alene Parks and Recreation Commission approved the addition of two new docks on the Spokane River at the Harbor Center. Each dock will provide up to 26 commercial boat slips. The docks will be constructed and maintained by boat rental companies who will lease riparian littoral rights from the city. The cost is estimated to start at $15,000 per year per
slip dock for five years and $30,000 per year per slip dock for the following five years upon extension of the lease.
The first year would bring in
$780,000 $30,000 into the Parks’ capital fund. Year six of the lease would bring in just over $1.5 Million $60,000 annually. The city would not have any maintenance costs or liability for the docks. Bill Greenwood who presented this twelve million dollar $650,000 idea to the commission earlier this week is hopeful that a handful of boat rental companies will outbid each other and the lease amounts will be higher than his proposed starting point.
The public benefit is touted as relieving congestion at the 3rd Street dock where rental companies often deliver boats. Although the Parks Commission has approved the concept it will head to General Works on Monday, March 21st, and finally to city council for final approval.