Quote:
Originally Posted by Descant
It's not just $250/month rent. The Dive is offering $100,000 in improvements to the docks which will then be given to the city.
|
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.