Quote:
Originally Posted by Riviera
Correct. However, if I understand the proposal correctly (and I may not), the dock would be used exclusively by the Dive for 10-20 years, while it is under their lease term. Accordingly, the City needs to consider it's value to the City upon the expiration of the lease term. I concur that there is value in the docking structure, but there needs to be recognition that the financial value is de minimis until such time as the lease expires.
I'm simply suggesting that the Dive is one option, and there may well be other commercial enterprises that might suggest alternative uses, that garner a higher economic benefit to the City.
The City also needs to consider who controls the dock if the Dive fails. The City should be sure that rights to the dock revert to the City in the event that the Dive ceases to operate. The last thing the City wants if for the dock to become a private docking facility, on public land, with no restaurant sitting at the end of the dock.
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Surely. I like small words though, so while the value is 'minor' until the lease expires I'm sure they know they wont get 20 years. Swing for the fences but take the single, if they get 5 yrs they may well take it. We don't know what they pay in rent now, if it's 20k a year then a dock @ 100k over a 5 yr lease @ $250 a month isn't any worse than they have now.
The offer is never unreasonable as it's just an ask, I am sure the town won't let the end deal be unreasonable. Either way I am assuming the city goes home owning the dock at the end of whatever the term is.