Thank you for your interest in purchasing a slip at Sunnyside Marina! Sunnyside is a full service, private, Marina on the St Croix River. We are just south of downtown Stillwater, Minnesota and just north of the beautiful St Croix River Crossing Bridge. We benefit from amazing views, and easy access to the shops and restaurants of downtown Stillwater. We are also situated on the 5 mile loop bike path that connects to the Browns Creek and the Gateway Bike Trails.
We are an association of Slip Owners and are governed by a Board of Directors, made up of Slip Owners. The Board of Directors' duties are outlined in the By-Laws of the Port of Sunnyside Club, Inc. The Board of Directors delegates management of the operations of the Marina to the General Manager, Rick Chapman, and his team.
Our mission is to be the premier marina on the St Croix River ensuring maximum enjoyment, safety and beauty for our members.
What you are buying:
When you purchase a slip at Sunnyside, you aren't actually purchasing a hole in the water. You are purchasing a percentage ownership in The Port of Sunnyside Club, Inc. This includes, the land, buildings, docks, equipment, gas dock operation, service department operation, etc. You are, in turn, leased back your exact slip. Each slip owner is issued a Certificate of Ownership and a Proprietary License and Lease Agreement.
How the Marina Operates Financially:
The goal of the operation of Sunnyside Marina is to maintain a net zero budget. We work to provide the most services to our boaters and keep our Owner Assessments as low as possible. We generate revenue from slip rental, our service department, our gas dock, and our launch and haul out services. All of that revenue goes to offset the expense of operating the marina. Then, the Slip Owners are charged "Assessments" for the remaining costs. The Board of Directors is responsible for setting the Slip Owner Assessment levels each year.
Part of the Slip Owner Assessments are also set aside for future Capital Improvement projects. These funds can only be used with membership approval. Approval is given through a ballot process. A majority of those slip owners voting is needed for the project to be approved.
By setting aside these Capital Improvement Funds each year, we hope to avoid any Special Assessments.
Slip Owner Assessments:
Assessments are calculated in two ways. Some expenses are divided per-capita. These are expenses that everyone shares equally, like garbage removal and security. Other expenses are divided Pro-rata and are determined by square footage of the slip. These are expenses like general liability insurance and property taxes. Please contact the Marina office to find the exact Assessment for the slip that interests you. Assessments are billed quarterly and due at the end of January, April, July, and October. All future assessments from the day of closing will be the responsibility of the buyer.
Special Assessments:
From time to time, the Board of Directors may recommend a "Special Assessment" to complete a specific project. There was a "Special Assessment" in 2004 to re-build the entire marina with all new floating docks. Most recently, a "Special Assessment" was approved by the membership for a landscaping project and repaving of our parking lot. In all cases, a ballot must be approved by a majority of those slip owners returning a ballot.
Closing Costs:
As the buyer, you are responsible for two additional expenses at closing. The first expense is $2,500 and is called the "Initiation Fee". This money goes directly in to the Capital Improvement Account. The second expense is $250 and is called a "Transfer Fee". This money goes directly in to our general operating account and simply covers our time and supplies for the closing.
How to Buy a Slip:
Simply contact the seller and make them an offer. If your offer is accepted, agree on a closing date and schedule it with the Marina office. All closings must be completed in the marina office and we are the keeper of all the records for the slip. These transactions are completely private and there is no reporting of any kind outside of the marina office. All records are stored in a fireproof cabinet in our office.
Thank you for your interest!
Please call the marina office for any further information. We will be happy to walk through all aspects of Slip Ownership and connect prospective buyers with Owners. We can be reached at www.sunnysidemarina.com, or 651-439-2118.
