Q. How will Gulfport pay for the marina enhancements?
A: According to City Manager Jim O’Reilly, the city marina will take a loan from Gulfport’s non- appropriated (money in the bank that is not part of the mandated 25% reserves and that is not used in the current fiscal year) general fund balance to make any improvements. Every year profits from the marina subsidize the general fund, which helps keep Gulfport’s property taxes at a lower rate. The marina cannot take the money back, so it must borrow its own money to make improvements. The marina will repay the general fund.