Norwich ― A pending sale of the Marina at American Wharf could be completed within a month if the city agrees to transfer the remaining years of a 99-year lease of the property it sits on to the prospective buyer.

The City Council will consider the lease transfer to Patten Marina Holdings LLC with a business address listed as a law firm in Bridgeport, at its 7:30 p.m. meeting Monday at City Hall.

The resolution under consideration also would authorize City Manager John Salomone to negotiate an option with Patten to later purchase the marina grounds owned by the city and to negotiate potential tax abatements for improvements to the buildings.

The resolution also allows for renegotiating portions of the lease that are outdated and to adjust timelines for improvements to the development.

The city owns the marina grounds on the manmade Hollyhock Island in Norwich Harbor. The leased property includes a section on the mainland adjacent to the city’s Howard T. Brown Memorial Park.

The marina was created in 1987 by developer Ronald Aliano, owner of American Ambulance. The city leased the property for 99 years. Following Aliano’s death in 2009, his estate sold the marina to Joyal Capital Management LLC in 2011, and the city transferred the lease to the new owner.

The lease calls for payments to the city of $5,000 per year through 2026, with a lump sum payment of $230,000 due in 2027. The lease then reverts to $1 per year through the end of the lease in 2086.

No information was available Thursday on the sale of the marina by Joyal Capital Management LLC. Patrick Dwyer of Somers, listed as the principal for Patten Marina Holdings, could not be reached for comment. Messages also were left with the Bridgeport law firm listed on state records as the agent for Patten, and at the Joyal Capital Management office in Massachusetts.

The City Council resolution states that a closing date on the purchase is expected “within 30 days after the approval of this resolution.”

Joyal Capital Management purchased the marina in 2011 for $750,000 from the Aliano estate. After initial improvements, including a new ice cream stand ― now closed ― on the mainland portion of the leased property, city leaders became disappointed with the lack of upkeep and improvements at the facility.

Under the name, JCM CT Acquisitions, the company had also purchased the long-vacant former Marina Towers office building adjacent to the marina grounds in 2007. But no development was done there.

Salomone and Mayor Peter Nystrom said they were optimistic about the pending marina sale and the potential for improved development there.

Separately, the city has applied for a state Community Investment Fund grant for broad waterfront improvements that could include work on the marina property. Salomone said the marina sale is not part of that application.

“We’ve met with the buyers, and they’re very interested, very sincere,” Nystrom said.

The city’s involvement in the sale is limited to ensuring the buyer has the financial wherewithal to take over the lease and meet the city’s requirements. The resolution includes language that city Comptroller Josh Pothier has conducted a review of the financial standing of the buyer and found that Patten “is likely to be of sound financial standing” and capable of meeting the lease obligations.

“It’s a big first step,” Salomone said of the lease transfer. “We are enabling that (sale) to go forward. We’ve been working on this a long time.”

c.bessette@theday.com