When RBAW (Recreation Boating Association of Washington) secured an agreement to purchase the historic Lakebay Marina near Penrose State Park in Mayo Cove in 2019, RBAW began raising funds to close on the sale of the 18-acre property with the intent of handing it over to the State for a Marine Park. Many enthusiastic boaters and yacht clubs donated funds to the endeavor. At the same time, RBAW made plans to make an application for grant monies from the State’s Boating Facilities Grant Program as an additional financial resource.
As the September 30, 2020 deadline for closing on the property approached, RBAW was not able to collect the full 1.24 million-dollar purchase price and therefore unable to close. Negotiations at the time for an extension were unsuccessful and the future of Lakebay Marina was uncertain. When the deal fell through, RBAW had already collected a significant portion of the purchase price.
Now several months later, the Lakebay owner and RBAW have agreed to a one-year extension on the closing date. RBAW is back in the business of securing funding to close on the property by September 30, 2021. Part of that funding is planned to come from Washington State’s RCO (Recreation and Conservation Office) Boating Facilities Grant program. The vision of making Lakebay a public boating destination is once again real.
RBAW’s Marine Parks Conservancy is now back to raising the remainder of the funds to close on the purchase of Lakebay and provide funds for renovation. Prior donors who may have asked for a refund when the deal was interrupted are being contacted by RBAW regarding reinstating their donations.
RBAW Marine Parks Conservancy has plans far beyond Lakebay, including a broad spectrum to support and promote boating activities and destinations throughout the Northwest. You can learn more about RBAW’s Marine Parks Conservancy efforts and how you can help by going to RBAW’s website at rbaw.org or the RBAW Marine Parks Conservancy website at rbawmarineparksconservancy.org