Ted:

I guess I am confused...  The lease has an annual price of $40,000 or so, escalating.  In addition, OPA will not have to pay the real estate tax on the property...  I am not sure exactly what that figure is... but let's say it is $35,000 per year.  That makes the annual return to OPA $75,000 ($40,000 plus $35,000).  Since this is a five year lease... that aggregates to $375,000 on a property that is worth say, $2,500,000.  Not too shabby.  And at the end of the lease... OPA still owns the property and Seacrets has an obligation to clean it up and return it to OPA in its original condition.

I'm not sure what is meant by the county getting a gift from OPA... is it a reduced assessment and lower tax?  If so maybe we could get that and maybe we could not.  I disagree with the statement that OPA would be far better off with a $75,000 non net lease.  The outcome would be the same either way.

On the question of permission to put a path across the property... IMHO, once it is leased to Seacrets... OPA (the owner) would need the permission of Seacrets to put anything on the property or use it in any way.  For all intents and purposes... Seacrets would be the "owner" of the property for the duration of the lease.

 Jeff Knepper