The 4 Million Dollar Marina Question
Riddle me this Batman: Why do IOP residents have to pay to use a boat ramp they own?
A little background. The marina property was bought by the city in January 1999 for $4,100,000 and financed with a 20 year bond. That bond has been refinanced several times and will be paid off in February 2019.
The city currently owes $1,175,000 on the property.
So this property was bought and is being paid for by the residents of IOP. Why, then, do we have to pay to launch a boat and park the trailer at a city property that we are paying for?
Charleston County operates 19 boat ramps, 14 of which are large enough from which to launch a boat from a trailer. As far as I know there is no fee to launch your boat or park your trailer.
I doubt there is a lot of maintenance required for the above ramp, but any maintenance that may be needed could be financed by boaters who do not live on the IOP.
It is past time for the residents who live here to reap some rewards in return for the other inconveniences we cheerfully tolerate.