City of Buffalo exploring all options for new ownership of Erie Basin Marina [Video]

BUFFALO, N.Y. (WKBW0 — Some of Buffalo’s Common Council members have a problem with the current Erie Basin Marina contract.

The contract for Smith Boys to operate the Erie Basin Marina goes back to 2014 and required the business to pay the city only $1 per year in rent plus 20 percent of its net profit above $80,000.

Smith Boys claimed it never made much money, so it only paid $930 in profit sharing over that entire decade despite gross revenue of around $10 million, according to the City Comptroller.

Council member Mitch Nowakowski — who represents the Fillmore district which includes the marina — looked at prohibiting the city’s Department of Public Works not to enter another contract with Smith Boys.

But during a Council committee meeting this Tuesday morning, the city’s law department said the council can’t order DPW to do that.

So, Nowakowski said he will ask …