We have one boat – Xian – which is at the Ganges Marina on Saltspring Island. Membership consists of share purchase of $1000, annual dues of $1000, a maintenance work deposit of $250 which carries forward as long as you perform ten hours or maintenance work each year, and a $50 initiation. fee. The shares are sold back to the association if you decide to leave (one year’s notice required) or can be sold to a new member. So really, if you join up and do ten hours of work each year your yearly cost is currently $1000. One week from Sunday to Saturday in our high season from June 1 to September 30 is allowed, with other cruises available in the off season.
Sailboats are expensive. Cooperative ownership offers a sensible, affordable alternative. Waterline offers it’s members one seven-day cruise in the busy summer season as well as day trips and other cruising opportunities throughout the year.
Many boat owners spend all their spare time and/or money maintaining their investment; co-op members contribute 10 hours per year or pay $250 per year in lieu of maintenance.
It’s a pretty good deal.
|Membership Type||Inititation Fee||Annual Dues||Maintenance Deposit||Shares Total*||Total|
completed previous year’s
did not complete
|*Shares are redeemable upon leaving the co-op provided one years notice is given and membership dues are paid for the year notice is given.|
|All prices in Canadian dollars|