Fintry Queen News: January 15 / 2016 - Kelowna, B.C.

The "Fintry Queen", a 326 passenger ship on Okanagan Lake, has sent a request to Kelowna's Mayor and Council of the City of Kelowna to re-consider a position taken in 2012 to not support a moorage site for the ship in Kelowna's City Park. At that time, the ship had just been moved from its former moorage pier in Kerry Park, at the foot of Bernard Ave, to make way for the construction of the new Downtown Marina Pier and for extensions to the breakwater surrounding the Kelowna Yacht Club. Now that those facilities have been built and their footprints established, there still remains an opportunity to locate a new landing site for the ship at the outside corner of City Park. Costs to build a landing pier have been estimated at $300,000 and would be paid for by the ship at no cost to the City, who would also benefit from the annual lease revenue. The ship would employ up to 60 people and spend an estimated $500,000 locally in goods and services.

The history of navigation on Okanagan Lake dates back over a hundred years when the Canadian Pacific Railway commissioned the first ship, the "Aberdeen" to service the growing number of agricultural and mining settlements situated along the shores of the 80 mile long lake. The City of Penticton played a key role in this history and is home to the historic S.S. Sicamous, a restored paddlwheeler on display with several tugboats from the era.

Originally named the "M.V. Lequime", the Fintry Queen was built in Vancouver in 1948 and shipped by rail in sections to Kelowna, where she became one of three car and passenger ferries crossing Okanagan Lake.

In the 1960ís, Arthur Bailey transformed the "Lequime" into the "Fintry" to transport travelers and tourists to his new development at Fintry Estates. The ship was rebuilt to reflect the sternwheeler tradition on the lake.

Traditionally the Fintry Queen operated 2-3 cruises daily, averaging 250 scheduled tours per season from mid-May to mid-September, offering lunch & dinner cruises and special charters.

Over a 10 year period from 1990 - 2000, before the onset of cell phones and social media, the vessel averaged over 28,000 passengers annually, similar to today's annual passenger count for the Kettle Valley Steam Railroad, located on the bench lands above Summerland, BC.

The ship contains over 9000 sq ft of deck space on 3 levels, with 5 distinct passenger areas and the ability to host multiple functions at the same time, while leaving facilities accessible for all on board.

The enclosed Main Deck is both heated and air conditioned, featuring a commercial galley, an indoor Forward Lounge that seats 75 and a rear Main Dining Room with bar and dance floor for another 120 seated guests. On the Upper Deck, there is a sheltered outdoor seating area, open Sun Deck, barbeque, snack bar and kids playroom. The ship has successfully hosted conferences, banquets and weddings for up to 325, with a Food Primary liquor license for 280 patrons and a Liquor Primary license for 225 passengers, where minors were permitted.
Current development plans call for the construction of a new landing site in the south end of Okanagan Lake, adjacent to the Kiwanis Pier, at the foot of Main St. in the City of Penticton. Leases, design, engineering and environmental permits are all in place. Costs for this project are similar to Kelowna's, $300,000 for the pier, $100,000 to re-certify the vessel and $100,000 for renovations.

To complete the landings and resume operations, the Fintry Queen is looking for investors interested to capitalize on a $600,000 BC tax credit allocation approved through the BC Investment Program. Investors can receive a 30% BC tax credit to a maximum of $60,000 (unlimited for corporations) which can be applied anytime over the 5 following years. The sign up deadline for the 2015 tax year is February 27th, 2016 deadline.

Make sure to check out the following pdf documents: OLBC Termsheet Dec 7 2015 & FQ Exec Summary Dec 7 2015


For more information you may contact the company directly at 778-477-5783
Or contact: Andy Schwab at 250-808-2628 or info@fintryqueen.ca
www.fintryqueen.ca


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