Re: "Boathouse Restaurant not a good deal for taxpayers," letter to the editor, Friday, June 8.

I wish to correct the record in regard to a letter from Ms. Hazel Mason published on June 8.

While I can understand that someone visiting Port Moody from another community would not be aware of the improvements we are making in Rocky Point Park, I am puzzled that Ms. Mason would make these statements given that our staff have spent so much time sharing all documentation with her.

So I will re-state some of the facts that were shared in detail with the media and repeatedly with Ms. Mason.

The idea of a restaurant in Rocky Point Park has been discussed for more than a decade.

It was the object of a lot of public consultation and discussed with the Rocky Point multi-use facility task force, parks and recreation commission and other city committees.

The justification for the restaurant was never to only add more revenues in city coffers.

The main reason the city wanted to attract a fine dining restaurant was to bring economic benefits to the community through over 100 jobs, particularly for our youth, host more celebrations and community events right here in Port Moody and to enhance tourism.

Still, there will be significant revenues for the city.

The boat launch is expected to continue to generate $65,000 per year.

In addition to leasing the land at $45,000 per year, the Boathouse Restaurant will be giving the city a share of its gross revenues, which are expected to exceed $5 million per year.

In addition, the owner will be paying all taxes (property taxes on a $5-million building) and fees, the same as any other business operating in Port Moody.

The city's director of finance estimated city revenues at $4.7 million over 30 years.

Independent advisors confirmed that the deal was sound, at market rate and that the terms were favourable to the city.

The decision to build a restaurant in Rocky Point Park was not easy.

It would have been politically expedient to abandon the idea as soon as a few people expressed contrary opinions.

But it is important for all of us to understand the long-term benefits and common sense of decisions like this one.

Private partners, The Boathouse Restaurants of Canada Inc. and Madison Pacific, a B.C.-based developer, are investing their own funds on land that the city continues to own.

The building will belong to the city when the lease expires. They are assuming all business risks.

Financially, this is a good deal for the city, even though, as I said before, economic development and tourism are the main reasons why we proceeded with this project.

Regarding the boat trailer parking, we already achieved the one-for-one replacement of all parking stalls, just prior to the May long weekend, as we had promised.

There are 94 spaces available compared to the 81 spaces before the restaurant construction.

Granted, 50 of the 94 parking stalls now in place are at the West Coast Express parking lot and only available during the weekend, but our staff tell us that the system is working out very well. We expect the additional docks to be installed this summer and more improvements are under consideration.

Even though the Boathouse is still under construction, their staff have handled a lot of inquiries for reservations in the past 12 months.

In the future, the opportunity to dine by the waterfront will be available to anyone, not only to the property owners of the homes along Alderside.

There is little doubt that Rocky Point Park will no longer be just a summer amenity. It will attract year-round visitors and will be enjoyed by Port Moody residents in all seasons.

It will be a park for all: park users, boaters and, yes, restaurant patrons.

Joe Trasolini
Mayor, Port Moody

published on 06/20/2007