Challenge
Coastal municipality was faced with the negative impacts of an improperly constructed municipal marina which created a public safety issue for the tenants and a financial burden on the taxpayers. The city was seeking damages through the courts and was in need of high level marina valuation expertise and litigation support.
Solution
Walter Duke + Partners undertook comprehensive valuation analysis and market research. The financial performance of the marina was examined and Walter Duke + Partners worked closely with legal counsel to determine and consider all aspects of the construction and design flaws in order to isolate to what extent the city had been damaged.
Result
With the help of Walter Duke + Partners, the municipal client was able to settle the matter to their satisfaction and receive adequate compensation in order to properly re-construct the marina and provide a safe recreational amenity to the taxpayers that also provided adequate cash flow.