5/5/2010 8:40:43 AM
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Section 5: OPA Board Subject: OC Bayside Debacle Msg# 737719
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Rick,
Do you think such analysis came up when all the OPA experts were examining this latest lease? Probably not. Or they just don't get it or they just don't care. So you favor OPA getting the lump sum and paying the taxes ourselves? By the way, as I responded to Joe, at least one OPA "expert" did consider the tax clause. Maybe he just didn't care or get it -- whatever it is! ________________________ Anybody who leases property from others under similar circumstances always is required to pay the taxes, etc. People talk like this is a big thing. It's not, it's a given. How does this jive with the top quote where you appear to be agreeing we should pay the taxes? You can't have it both ways Rick. Either the lessee pays the taxes or we do. Which is it? Also, it is not a given in commercial rentals that the lessee pays the taxes. Often, as Joe has suggested, they are included in the rent. Many times all maintenance, utilities, insurance (other than contents), etc. are also included in the rent and the rent is adjusted annually. Often the calculation is subject to a base year which can vary (the earlier the better for the landlord). I rent commercial office space and also storage yard space so I know this is a fact. For our OPA property you can argue compensation but the framework where Seacrets bears all the maintenance, utilities, taxes, etc. is, in my opinion, the best set up for OPA. Ted |
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For reference, the above message is a reply to a message where: Do you think such analysis came up when all the OPA experts were examining this latest lease? Probably not. Or they just don't get it or they just don't care. You are not considering the terms of the lease not only require Seacrets to pay the yearly lease fee but also all the real estate taxes on the property. Anybody who leases property from others under similar circumstances always is required to pay the taxes, etc. People talk like this is a big thing. It's not, it's a given. If $35,000 a year is chump change, imagine what $20,000 a year would be? Anyway one wants to spin it, $35,000 or $20,000 is minuscule when one considers where this property is at and how much need Seacrets has for use of this land. |
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