Viking in talks on $500M marina project

[LuckyLady]

Marinas & Yards
Viking in talks on $500M marina project

Boating Industry
Friday September 19, 2008


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RIVIERA BEACH, Fla. — City officials in Riviera Beach, Fla., have begun negotiations with the real estate arm of the Viking Yacht Co. in hopes of spawning a $500 million redevelopment of the city’s marina and its surrounding property, the Palm Beach Post reported in a story yesterday.

The city council, sitting as the community redevelopment agency, voted 5-0 to work with Viking Developers LLC – the only company that submitted a response to the CRA's request for marina redevelopment proposals by the Sept. 2 deadline.
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Negotiations with Viking are expected to continue until Nov. 26, when the company would like to sign a development contract with the city, the newspaper reported.

Plans for what Viking has dubbed International Harbor at Riviera Beach include rebuilding the marina, adding a 608-car parking garage and office building and creating Harbor Village - stores, restaurants and walkways in the marina complex. The second phase calls for adding a hotel and conference center south of the marina, according to the story.

Exactly how the project would be financed is a question that is yet to be answered.

"We have to determine how much public money they're asking for and how much they're willing to put into the deal," Councilman Shelby Lowe told the Post.

Viking wants to tap millions in CRA money obtained through tax-increment financing, according to the story.

CRA Director Floyd Johnson said it's too early to determine whether CRA money could be used to finance the marina redevelopment.

"It's a proposal," Johnson told the newspaper. "Obviously, the devil is in the details."

[perfectscore]

[QUOTE=LuckyLady;416405]Marinas & Yards
Viking in talks on $500M marina project

Boating Industry
Friday September 19, 2008


Email this article to a friend!




Exactly how the project would be financed is a question that is yet to be answered.


this seems to be going around alot these days, banks cant even finance a bag of popcorn let alone a $500 m marina. Viking might have a better shot to just go belly up, then i'm sure the marina idea would get done as the gov't runs to bail 'em out.

[Bligh]

Isnt this the same project they tried to do more than two years ago when you could sell property? Also didnt a federal judge shoot down their eminent domain scheme to take property from city residents that didnt want to give up their properties? this is still america isnt it?

[Deep C]

I along with about two hundred others at Riviera Marina have been caught up in this very shitty and dirty deal for a couple years now. The city basically is trying to make things so unbearable that every one will just leave then they can sell out.
They have used underhanded dirty crap to make it happen. I wrote last spring in detail how they tried to take and sell my boat for nonpayment of dockage when all along I had hard copy proof that it has always been paid. I was one of eighty they tried that on. They also tried 120 eveictions for not meeting insurance requirements that they had changed and never notified anyone. That too backfired when it was found that the people actually still had more than the increased amount...
Viking wants the spot. Not for any $500m enhancement thing. They just want to expand their yard... The city wants the marina gone cause they don't know the first thing about running one and this is another attempt at deceiving the ignorant public they are supposed to serve...
If you go to the area you will see its a place where you want to roll up your windows, lock the doors and make no eye contact with the population ... There was talk of a 1.2 billion dollar fed and state funded clean up a few years ago. The city voted it down because it might involve their citizens having to actually work for a living instead of collecting that AFDC check each month...

[LuckyLady]

I along with about two hundred others at Riviera Marina have been caught up in this very shitty and dirty deal for a couple years now. The city basically is trying to make things so unbearable that every one will just leave then they can sell out.
They have used underhanded dirty crap to make it happen. I wrote last spring in detail how they tried to take and sell my boat for nonpayment of dockage when all along I had hard copy proof that it has always been paid. I was one of eighty they tried that on. They also tried 120 eveictions for not meeting insurance requirements that they had changed and never notified anyone. That too backfired when it was found that the people actually still had more than the increased amount...
Viking wants the spot. Not for any $500m enhancement thing. They just want to expand their yard... The city wants the marina gone cause they don't know the first thing about running one and this is another attempt at deceiving the ignorant public they are supposed to serve...
If you go to the area you will see its a place where you want to roll up your windows, lock the doors and make no eye contact with the population ... There was talk of a 1.2 billion dollar fed and state funded clean up a few years ago. The city voted it down because it might involve their citizens having to actually work for a living instead of collecting that AFDC check each month...

All of that is just wrong, sorry deepy for the sore subject

[stockweiser]

I think all Gov't needs to be overhauled!!! It wouldn't surprise me to see a lot of congress caught up in this financial crisis.

[Bligh]

I think all Gov't needs to be overhauled!!! It wouldn't surprise me to see a lot of congress caught up in this financial crisis.

Dont just blame it on the city govt! Viking is a lot of the problem too! They are not very American. especially concerning property rights of people with less money than them!