Castaways Marina is a Minnesota Corporation. All docks, fingers, ramps, and attachments to the head pier or fingers are owned and maintained by Castaways Marina Incorporated (CMI). Ownership in CMI is obtained through the purchase of common stock. There are currently 735 shares of voting stock outstanding held by thirty individual shareholders. No individual shareholder holds a majority interest in Castaways Marina. Slips may also be rented on a seasonal or annual basis from a current shareholder (owner) or from Castaways Marina. Garages and storage units are also available for rent. Please see the Slip License Form if you are interested in rental.
Stock shares are connected to slip rights at Castaways Marina. Each shareholder (owner) also holds a ninety-nine year proprietary lease to a particular slip. The number of shares assigned to each slip is determined by the length of the slip and whether or not the slip is covered. Accordingly, each slip “owner” holds from thirteen (15) to eighteen (19) shares of Castaways’ voting stock. Shareholders who have also purchased an ownership interest in a garage and/or storage unit hold additional shares of voting stock (3 shares for a garage and 2 shares for a storage unit) and a proprietary lease to that garage or storage unit.
Please contact Castaways’ Sales and Marketing Director (John Haugum: email@example.com) if you are interested in renting a slip for the season, or if you are interested in an ownership opportunity at Castaways.
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