HomeMy WebLinkAbout05/23/1983 Item #F-14_a C y�3
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May 2, 1983
Mayor Evelyn Hart
3300 Newport Boulevard
Newport Beach, CA. 92663
C''MC11 AGENDA
W.
BY THE CITY COUNCIL
CITY OF NEWPORT BEACH
MAY 23 1983
Dear Mayor Hart and Members of the City Council:
On behalf of the Balboa Bay Club and its membership, we
request that an appropriate Council Committee be created
to make recommendations to the City Council relative to
the modification and renewal of the Balboa Bay Club lease.
As you know, the existing lease on the Balboa Bay Club
expires on August 31, 1998. The lease provides, among
other things, that the annual amount of expenditures for
repairs and maintenance in years 40 through 50 (1988 -1998)
of the lease be maintained in an average equal to that for
the years 20 through 40 (1968- 1988). This lease provision
contains some ambiguity and further creates a negative
incentive for the Club to expend funds for necessary repairs
and maintenance during the next five years, at a time when
such repairs are very important.
Further, the short remaining lease term severely restricts
the availability of necessary financing for needed capital
improvements.
It is our understanding that a precedent for the appointment
of a Council Committee to deal with lease negotiations has
previously been established with regard to the lease of
1221 West Coast Highway, Newport Beach, California 92663 (714) 645 -5000
Mayor Evelyn Hart
May 2, 1983
Page 2
Beacon Bay.and other City owned lease properties.
Accordingly, we request that the City Council favorably
consider the appointment of an appropriately constituted
Council Committee to review the existing lease and to enter
negotiations with representatives of the Balboa Bay Club
for the modification and renewal of the lease.
Sin�cerely,
" �' .j�
Thomas G. Deemer
President
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