Boat harbor lessee wants loan to pay for storm damage

May 01-- May 1--The owner of Riverwalk Marina, who leases the property from the city, is seeking the Decatur City Council's assistance in securing a $350,000 loan as he awaits insurance money to finish repairing damage sustained in an April 3, 2018, storm.

Steve Conner told the council at a work session Monday the loan would allow him to pay contractors for repairs from the storm, which the National Weather Service said produced winds of up to 75 mph. Riverwalk Marina was one of several businesses, along with about 80 Decatur homes, that sustained damage in the straight-line winds.

"I just need to be able to pay some people," Conner said.

Councilwoman Kristi Hill suggested the city could send a letter in support of Conner to the insurance company.

"A letter from the city might speed that payment along," Hill said.

Under the terms of his lease with the city, Conner needs council permission to take out a leasehold mortgage on the property on the Tennessee River along the west side of U.S. 31.

The council in 2015 approved a previous request by Conner for authorization to borrow $1.2 million. His attorney, Barney Lovelace, wrote in a letter to the city this month that $350,000 has been paid on that loan.

"Riverwalk Marina is still negotiating with their insurance company over the damages to the docks incurred in the April 2018 storm," Lovelace wrote. "Because Riverwalk Marina cannot wait for the insurance company to make their final decision, Riverwalk Marina has made arrangements to borrow $350,000 from Renasant Bank to allow Riverwalk to complete the repairs."

The A dock at the marina was destroyed in the storm. The wind pushed B dock into A dock. The stud poles that hold the B dock in place had to be pulled, and the 8-foot pipe sleeves and 14-foot pipes were reset.

Conner said repairs from the storm damage are almost complete. Workers finally finished putting a roof on one of the docks last week.

"We've got to finish up the gas house," Conner said. "Electricity and water need to be added to the big dock. Right now, we just need to get it looking better and get it operating."

The City Council will consider the loan request at the May 8 meeting.

Conner's Riverwalk Marina LLC entered into the 50-year lease with the city in 1995.

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