Martinez Weighs Two-Year Marina Management Deal with F3
City of MartinezCity · Martinez, CA- Disclosed value
- $8,000 one-time start-up fee; $6,000/month or 6.5% of gross monthly receipts (whichever is greater); incentive fee on gross revenue increases; $10,000 advance deposit; $10,000 initial working capital deposit; $10,000 minimum funds balance
- From agendapacket
- Document date
- Oct 28, 2024
- Renews
- Free account
The 30-second brief
The City of Martinez is considering a new marina management agreement with F3 Marina LLC to operate the Martinez Marina for an initial two-year term beginning January 1, 2025. Under the proposed terms, F3 would receive a one-time $8,000 start-up fee, a monthly management fee of at least $6,000 plus potential incentive fees, and manage day-to-day marina operations at the City's expense. The agreement includes deposits, expenditure limits, and performance-based oversight and termination provisions.
F3 Marina LLC holds this professional services contract with City of Martinez. Its other public contracts on record include work for City of Sioux.
The renewal date is on record. A free account shows it, with the renewals for every City of Martinez contract.
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Contract details
- Contract type
- Professional Services
- Amount
- $8,000 one-time start-up fee; $6,000/month or 6.5% of gross monthly receipts (whichever is greater); incentive fee on gross revenue increases; $10,000 advance deposit; $10,000 initial working capital deposit; $10,000 minimum funds balance
- Document date
- October 28, 2024
- Term
- Original Term: 2 years, 1/1/2025 – 12/31/2026, with automatic one-year extension unless terminated
- Renews
- Free account
- Vendor
- F3 Marina LLC
- Agency
- City of Martinez
- Source document
- City of Martinez Waterfront & Marina Subcommittee Agenda Packet October 2024 (AgendaPacket)
F3 Marina LLC's other public contracts
More City of Martinez contracts
Questions about this contract
Who was awarded the professional services contract by City of Martinez?
F3 Marina LLC was awarded this professional services contract by City of Martinez, as recorded on October 28, 2024. The contract value is $8,000 one-time start-up fee; $6,000/month or 6.5% of gross monthly receipts (whichever is greater); incentive fee on gross revenue increases; $10,000 advance deposit; $10,000 initial working capital deposit; $10,000 minimum funds balance.
How much is the F3 Marina LLC contract with City of Martinez worth?
The F3 Marina LLC contract with City of Martinez is valued at $8,000 one-time start-up fee; $6,000/month or 6.5% of gross monthly receipts (whichever is greater); incentive fee on gross revenue increases; $10,000 advance deposit; $10,000 initial working capital deposit; $10,000 minimum funds balance, covering professional services work.
What type of contract is this?
This is a Professional Services contract, documented as a agendapacket record.
Where was this contract approved?
This contract appears in City of Martinez Waterfront & Marina Subcommittee Agenda Packet October 2024 (AgendaPacket), dated October 28, 2024 from City of Martinez. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does F3 Marina LLC hold?
F3 Marina LLC may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Martinez currently buying?
Explore City of Martinez's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.