Trio and City of Penticton part ways
A controversial, and costly chapter in the City's history has apparently come to a close.
According to a news release issued on Wednesday, the City of Penticton is cutting ties with Trio marine group, the company that had signed a 29 year agreement to upgrade and operate Skaha Lake Marina just a few years ago.
It will cost the City $200,000 dollars to terminate the deal.
They've also incurred administrative and legal costs to the tune of $168,700, while receiving $112,900 in revenue over the term of the 4 year license to use agreement.
The original deal also called for waterslides and the use of public green space, although they were removed from it last fall.
According to the Mayor, that really set this all in motion, as it reduced Trio's investment in the project from 4-million dollars, down to below 1.5-million.
Mayor Andrew Jakubeit says, in the future, a comprehensive community engagement process, developed through a council approved procedure as part of the park use policy, will guide decisions around park land use.