Bay Ferries Great Lakes Llc News

Rochester city officials estimate that they will need $3.1 million to buy out existing high-speed ferry contracts or continue them if necessary, according to legislation before City Council, according to the Rochester Democrat & Chronicle. The amount is included in an expense list justifying the mayor’s request to borrow $9.4 million from the city insurance reserve and close out ferry operations. Other expenses include repaying manager Bay Ferries Great Lakes LLC, which is owed $2.5 million; payments on the $40 million borrowed to buy the ship and begin operations last year; and maintenance, personnel and insurance until the ship is sold. The latter expenses are just an estimate and assume that the boat will be here through the fall.