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Saturday, June 3, 2017

Marina Leases End with Property Sale or Property Transfers; Goes to
Next on Waiting List

Since different editions of the Silver Lake Institute Handbook have differing rules about the SLI Marina spaces, the SLI Board of Trustees this morning amended the SLI Handbook regarding termination of Marina leases. The annual leases which naturally terminate at the end of the 12 month period, will now also terminate upon the recorded sale of the property and will also terminate upon the recorded Transfer of property names even within a family. The Board agreed, with the exception of one "No" vote, that the voluntary act of transferring or selling of the property should not be made an exception to the Waiting List. 

A second amendment of the same section, leaves in the requirement of a hoist, but removes the designation of "motorized boat" and replaces it with "watercraft." This creates greater recognition of sail boats, Kayaks, row boats, and jet skis which must then use the hoist, since no boat or watercraft is allowed to be tied up to a dock. 

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