5/4/2010 2:23:51 PM
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Section 5: OPA Board Subject: OC Bayside Debacle Msg# 737619
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I don't know if the current gross rent is fair or not and I haven't heard anyone say what a fair rent would be -- supported by some facts -- just those who argue that the rent isn't enough. Ted, during the negotiations on the 99-year lease OPA had a consultant report that discussed the parking lease value. I'm not arguing that the new lease amount isn't enough. For one thing I have no idea what the new amount is, only that it is higher than the amount in the last 5-year lease. The consultant said the amount in the prior lease was under market value, not me, not others on this forum. A check of the report might indicate what the consultant thought was fair value when the report was submitted last year. And you are still talking like someone who has spent too much time with board members. |
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For reference, the above message is a reply to a message where: Joe, If I am still around and involved in OP in early 2014, I intend to look long and hard at what is fair market and express that opinion publicly. I don't know if the current gross rent is fair or not and I haven't heard anyone say what a fair rent would be -- supported by some facts -- just those who argue that the rent isn't enough. It is hard to deal in speculation (like Seacrets filling in the lot) without any factual basis. Does anyone have a basis for what fair market rent should be? Ted |
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