The privatisation of Chornomorsky Yacht Club has been judged as inappropriate by State Property Fund of Ukraine (SPFU), therefore a tender is going to be held on transferring this asset to long-term lease provided its basic activities are preserved, as SPFU Press Office reports.
It is noted that the state enterprise (SE) Chornomorsky Yacht Club is a company providing socially important functions.
“SPFU has analysed potential risks arising from possible privatisation of the Yacht Club situated at the Black Sea coast. After the five-year post-privatisation term a new master might develop some part of the Yacht Club area, as well as change its business profile.
So, in order of avoiding such risks in the future, SPFU is going to exclude the SE Chornomorsky Yacht Club from the privatisation list and in the short run transfer it to long-term rent with the obligatory reservation of its activities profile. Moreover, the would-be Yacht Club tenant is going to be able to invest in its development, though unable to buy it out as a prize for ‘permanent improvements’ [a usual technique of cheap privatisation in post-Soviet countries – Interlegal],” points out the report.
In March 2020 SPFU has assigned Albert Kabakov, President of Odessa Region Sailing Federation, as Director of SE Chornomorsky Yacht Club. He was ordered to provide the full asset recognition and complete its preparation to the lease tender.
Approximately in May or early June 2020 the public discussions are expected to be held on collateral terms of the YC lease, which are to be considered in the lease agreement in order to secure the asset’s further development. SPFU intends to invite all the parties concerned in the YC development.
“It’s worth to stress that representatives of the sailing as well as local community of Odessa and city’s public activists strongly support the Fund’s initiative of the Club’s long-term lease with obligatory preservation of its activity profile”, the PO continued.
NB by Interlegal: The Club is situated in the city’s central zone adjoining the most popular municipal park zone within a short-ride distance to all the city’s famous sightseeing attractions.
Moreover, travelling yachtsmen can use it as a base for breath-taking journeys to the Dnieper river estuary some 38 nm eastward with its picturesque islands and spits, or to the Danube river estuary some 80 nm westward with its reed-bedded floodplains and unique fauna known as Danube Biosphere Reserve listed by UNESCO as a World Heritage item.
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