Ted, I spent the morning at OPA reviewing all the files and documents OPA has related to our dealings with Seacrets on the bayside property. Here are some bullet-point notes:

• The earliest lease in the file is August 1, 1991. It contains a right of first refusal.
• Subsequent leases of August 1, 1996, November 1, 1999, January 1, 2004, and November 1, 2008 do not contain a right of first refusal.
• OPA's survey of June 2009 shows an encroachment of a high wall constructed on OPA property about 20 feet inside the property line, and a building that encroaches 16 feet into OPA property. The overall encroachment area is about 20 feet by 120 feet.
• A September 1996 letter from Seacrets saying it was in the process of obtaining permits to fill non-tidal wetlands that had erroneously been classified as tidal wetlands. Sound familiar? Sounds almost exactly like what Art Sachs reported at the last board meeting as the potential for OPA to fill our property and increase the value substantially. OPA was aware of this potential 16 years ago but did nothing. You can bet Seacrets was well aware of the potential when seeking a 99-year lease.
• Some handwritten notes from back in 1996 indicating research on area parking prices showing a value of our spaces at around $17,000; I believe were leasing the spaces at the time for about half that amount.
• A memo from Dave Ferguson to Joe Moore saying the property tax assessment seemed high back in January 2006. Wonder why Dave Ferguson was concerned enough to send a memo to Joe Moore, considering Seacrets was paying the tax and the tax only existed because of the lease?
• The property was purchased by Boise in 1982 for $150,000.