5/7/2010 2:20:26 PM
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Section 5: OPA Board Subject: OC Bayside Debacle Msg# 738205
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Certainly net dollars are all that matter. However, some in OPA-land have harped on the benefit to OPA being the sum of $75,000. OPA does not receive a $75,000 total benefit. Under the terms of the lease the reduced taxes have inured to the benefit of Seacrets, not OPA. The total net benefit to OPA for taxes and parking rights under the new lease appears to be $40,000 lease + $15,000 taxes... $55,000, not the previously touted $75,000. |
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For reference, the above message is a reply to a message where: Joe The only benefit that matters is the net dollars. All other expenses paid by the tenant don't matter. OPA can not spend gross. Randy |
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