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5/4/2010 10:30:34 AM
 
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Section 5: OPA Board Subject: OC Bayside Debacle Msg# 737555
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You pointed out there were encroachments on OPA property. I am sure the reason the lease was renegotiated was to address that specific point as well as to spell out additional terms and conditions in more detail. The encroachment issue could have been handled in another manner. The land is valuable to OPA and to Mr. Moore. But until another suitor comes along it is Mr. Moore we must deal with as the only party that I know of interested in the property. No... there is no OPA "must deal" with Seacrets in play. The reality is Seacrets must deal with OPA for parking it pretty much MUST have. OPA owned the property before Seacrets even existed. How did we survive? As you may be aware, Bill Rakow has his hand in a cast and can't type. I am sure he would like to weigh in on this matter. He can call me and dictate a response. |
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For reference, the above message is a reply to a message where: Joe,
As you may be aware, Bill Rakow has his hand in a cast and can't type. I am sure he would like to weigh in on this matter. I believe the previous lease was for the entire property but restricted the use of the property to parking. You pointed out there were encroachments on OPA property. I am sure the reason the lease was renegotiated was to address that specific point as well as to spell out additional terms and conditions in more detail. The land is valuable to OPA and to Mr. Moore. But until another suitor comes along it is Mr. Moore we must deal with as the only party that I know of interested in the property. He pays the taxes and OPA every year. The question is what fair rental value is and that is often defined as what the lessee is willing pay. I don't know what "fair market" value is to rent that space. We could explore a lease with someone else but they would likely need to construct a building to justify the cost, negating the usefulness of the lot as overflow parking for the Beach Club. Ted |
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