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Introduction
Bay Access owns a small fleet of boats composed of the Optimist Dinghy (Opti’s) for single handed sailors 15 years and under, the Laser for single handed sailors over 15, and the two people crewed 420 Dinghy. This fleet of boats is instrumental to achieving our objective of introducing more people, adult and junior sailors alike, to small boat sailing. An example is our summer scholarship program where each summer Bay Access sponsors several sailing scholarships for local youth that have the desire, but not the means, to learn to sail. These scholarships allow selected individuals to attend a one week sailing camp each summer at a local yacht club. Bay Access provides all the facilities, instructors, food and lodging, and boats at no cost to the participants. If successful, the youth then have the opportunity to continue sailing at the local yacht club for the summer, participating in youth regattas throughout Texas.
In addition, in order to provide adults and youth the opportunity to practice and hone their small boat sailing and racing skills, Bay Access supports various clinics on weekends throughout the year. These clinics are oriented toward both the experienced and inexperienced sailor, as well as the competitor.
Our boats may also be used to allow people with little sailing experience the opportunity to learn more about sailing through participation in our clinics without having first to purchase a boat. They can then rent a boat until they are certain sailing is for them and wish to purchase a small sail boat. It is expected that, at some point, individuals using our boats will purchase their own boats. We also provide for an option for a two year (24 months) “Rent-to Buy” plan so interested individuals may purchase a boat they have been renting.
Anyone participating in of our boat use programs must sign a liability waiver and hold Bay Access harmless from any liability risks. The use of our boats and the clinics are open to the general public.
How Does The Program Work?
To achieve the above objectives, Bay Access provides three different options that provide interested adults and youth an opportunity to take advantage of our fleet:
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Program |
Summary |
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Donate & Use Program |
Allows individuals to donate the purchase price of, or the boat itself, a new or used boat and then rent it back on an exclusive basis for up one year. The value of the donation is reduced by the value of use obtained |
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Boat Rental |
Allow individuals to rent a sailboat for a limited (maximum three months) short term period. |
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Rent to Buy |
Allows individuals to rent a boat over a 24 month period and then apply the rents hey have paid toward the purchase of the boat. |
Boats being used under these programs will be inspected and checked in and out. At check out, digital pictures of the boat shall be taken. The user of the boat is responsible for reasonable care of the boat and shall be responsible for all damage beyond normal wear and tear in the sole judgment of Bay Access. Damage deposits shall be required. We will accommodate requests to use our fleet only where it does not conflict with the use of our fleet by those participating in our summer scholarship program. Our boat use programs are explained in greater detail below.
- Donate & Use Program
This program allows individuals to donate the purchase price of a boat or the boat itself and then rent the boat back for their exclusive use for a one year period.
The Donor must agree that the boat will be stored with all other Bay Access boats. Bay Access shall be responsible for maintaining the boat. The Donor shall be responsible for any damage to the boat. The Donor also agrees that Bay Access may use the boat, if it is not being used by the Donor.
Such donations will be treated as a “Quid Pro quo contribution” where the payment to Bay Access is partly a contribution and partly a payment for goods or service received, in this case the use of the boat. In such cases, the donor is only entitled to a tax deductible contribution for an amount in excess of the fair market value of the rental value of the boat for the one year period. For example, if a person bought an Opti for $3,500, donated it to Bay Access and then used it under this program for a one year period, their $3,500 tax deductible donation would be reduced by $720 (12 months times the rental value of an Opti of $60/per month) to $2,780.
- Boat Rental Program
This is a straight short term rental program and will operate on a first come, first serve basis. The rental period is limited to a maximum of three months within any twelve month period. A damage deposit is required. The weekly rental rate includes the state sales tax due on such rents.
- Rent to Buy Program
This option is in essence a lease purchase plan. The monthly payments shall be applied toward the eventual purchase of the boat. At the end of a 24 month period, the Lessee may purchase the boat by the payment of a final payment. A person renting a boat under the Boat Rental Program may convert to the Rent to Buy Program and apply all the rents they may have paid on the boat to the monies due under the Rent to Buy Program. The boat must be the same boat.
Lessee must carry casualty insurance on the boat and name Bay Access as the loss payee. Lessee is also responsible for all maintenance on boat. If lease is terminated, the boat must be returned in as good a condition as when originally leased with only normal wear and tear.
The damage deposit and rental/rates required are summarized below:
|
Type
Boat |
Avg.
Donated
Value/Purchase
Price |
Damage Deposit |
Weekly Rental Rate |
Two Year Lease
Purchase Plan |
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Monthly Lease |
Final Purchase Payment |
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1. Opti |
$1500 |
$150 |
$30 |
$60 |
$150 |
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2. Laser |
$2500 |
$250 |
$40 |
$95 |
$250 |
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3. 420 |
$3500 |
$350 |
$50 |
$135 |
$350 |
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Note 4 |
Note 1 |
Note 2 |
Note 3 |
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Note 1 Damage deposit applies to both a lease and a rental.
Note 2 Sales Tax is included. There is no proration of rents for any usage less than one week.
Note 3 No sales tax is due on lease payments.
Note 4 This is the average value for a used boat. |
