The annual cost of operating the government’s ferry terminal in Liverpool is currently estimated at £710,575, Tynwald has been told.
Responding to a question from Chris Thomas, political member of the DoI Lawrie Hooper detailed the financing.
Mr Hooper said the costs are currently funded from the department’s revenue budget, while a contingency fund bid has been submitted to Treasury to support these expenses.
He outlined expected changes over the next three years, with service charges and a surface water charge set to rise with UK RPI inflation.
However, he said riverside maintenance costs are expected to remain low due to new infrastructure, overall costs are predicted to rise broadly with inflation.
Lease
The long-term lease agreement with the Steam Packet is still under negotiation with Mr Thomas pressing for clarity on the current temporary arrangement.
Mr Hooper confirmed the rolling licence was in place but said he would need to “double check” the £14,000 Mr Thomas said the company was paying.
Mr Thomas also questioned what proportion of the payments go to the Peel Group, the terminal’s owners, and asked about potential rental income from events.
Mr Hooper committed to obtaining both breakdowns, stating he was “happy to go back and ask the department that question”.
Financing is currently supported by Treasury, with the intention that costs “will be offset by rental income” once a final lease is agreed.