Stockton Hopes New Investor Will Keep ‘The Sherman’ Afloat

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STOCKTON --

The City of Stockton's hope of turning an historic boat into a restaurant could sink.

The Sherman's owners said they're looking for a new dock for the 144 foot ship.

The sound of The Sherman's bell is clear and loud among the dusty floorboards, the tattered furniture and the broken windows,

"Someone needs to give it some TLC, give it a paint job,you know, spruce up the inside of it and turn this into a nice seafood restaurant,” Stockton Mayor Anthony Silva said.

The Sherman has a lot of history. It used to be an Army transfer boat and was converted into a restaurant. It’s been sitting in Stockton’s Marina for about a year.

On Monday, Silva gave potential investors a tour of the vessel.

The city hopes to find The Sherman a new owner before it floats away.

"The boat is scheduled to leave, actually, in a couple of weeks if we don’t find investors here locally who are interested in keeping it here in Stockton,” Silva said.

Officials with the Stockton Marina said the boat must leave, its dock is only meant for temporary use.

The Chief Financial Officer with Maxim Commercial Capital, The Sherman's owner, explained they're looking at three new places the boat could move if an investor is not found.  None of the locations are in Stockton.

"The potential is unlimited here. It looks like something you would see in the Titanic back in the day,” Silva said.

Unlike the ill-fated Titanic, the mayor is hoping an investor will fork over $100,000 to keep The Sherman afloat.

The Mayor added the boat will need a new paint job which is estimated to cost $75,000.

He explained that other investors wanted to buy the boat and turn it into a floating casino, an idea the mayor has nixed.