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Fort Myers (Fla.) City Council heard a pitch Monday from a real estate investor who hopes to lease the city’s money-losing yacht basin and turn it into a profitable venture.

Local investor Steve Israel says he can add services to the marina.

From 2012 to 2013, the city operated the yacht basin at a loss of more than $370,000, TV station WBBH reported. This year, city leaders are looking at a loss of at least $357,000.

Rick Hood, of Tennessee, and his wife brought their boat to Fort Myers and are pleased with the amenities they have found in the southwest Florida city.

“Here in downtown you have everything!” he told WBBH.

Paul Gwiz, however, is concerned about whether costs would rise under a new operator.

“They raise the rate and I go to Legacy or a nicer marina,” he said. “I am here to support my city and I am trying to keep my money here, local.”