Dubuque creates new lease agreement with Dubuque Marine

The city of Dubuque has struck a new lease agreement with the owners of the Dubuque Marina that should keep the popular recreation spot in business for decades to come while increasing revenue for the city. If approved by the City Council on Monday, the new lease would take effect on Jan. 1, 2029, and will run until 2053. The terms of the old lease, first signed in 1956 will remain in force until then. Under the terms of the new agreement, the marina owners would pay the city 3% of the previous year’s gross sales rather than their current fixed rent amount. The parties believe this will increase the rent about 50% over the current lease. The marina also will have to start paying property taxes on the land it leases. Dubuque Marina is given a fixed timeline of five to 13 years to replace and secure docks, replace and build a masonry shower house, improve the parking lot for land-lovers and install better lighting and security cameras. Newt Marine will begin dredging at the Dubuque Marina harbor under a contract brokered between the city and the marina with a $170,000 grant from the U.S. Fish and Wildlife Service. The marina will chip in $100,000 to match the grant. The city is also in negotiations on a new lease or lease extension with the Chaplain Schmitt Island marina run by American Marine, with a similar lease that expires a few years from now.