Council Monday renewed the leases for the Satellite Fish Market operating out of the blue building on the northern side of the wharf, and Pier Bistro Restaurant operating on the southern end.
Council also voted unanimously to inform Marker Group that the municipality would no longer pursue a public-private partnership to replace the facility with a floating wharf featuring a hotel and public space.
Looking at the specific rates, Satellite Fish Market will see its rent rise 25 per cent to $1,500 per month for the rest of 2022 starting April 1.
According to a staff report, Sidney has not reviewed the rents since 2017.
According to the report, staff had separate meetings with the businesses to discuss the renewal of the commercial leases, including the idea of raising the rates.
Unfortunately the rent increase along with other rising expenses such as fuel, insurance and the cost of the actual product means I will have to charge more for some products,” he said.