Portland, Nova Scotia ferry reach lease deal
Portland officials and Nova Star Cruises have crafted a lease deal at the city’s Ocean Gateway terminal, where the company plans to start a new ferry service to Nova Scotia on May 1.
The Portland Press Herald reported the proposed lease, which still needs committee and city council approval, would take effect April 15 and expire Oct. 31, 2016, giving the company exclusive rights to lease the terminal. A provision allows the company and city to renew the lease in two-year increments for a total of up to six years. The proposed deal would require the company to invest $225,000 in improvements, primarily to accommodate U.S. Customs and Border Protection staff. In a conservative estimate, the city projects it will receive between $150,000 and $400,000 in revenue per year through the lease and fees.
Councilor Kevin Donoghue, who chairs the city council’s housing and community development committee, told the newspaper the agreement took months to negotiate. It will go before the committee Wednesday.
The company has not yet started selling tickets for the service as it still needs to apply for and receive certain permits from the U.S. Federal Maritime Commission.
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