HomeMy WebLinkAbout1374 - MINUTES - City Commission MINUTES
0 DANIA BEACH CITY COMMISSION
WORKSHOP MEETING
DECEMBER 19, 2002
6:00 P.M.
1. Call to order
Mayor Chunn called the meeting to order at 6:10 p.m.
2. Roll Call:
Present:
Mayor Robert Chunn
Vice-Mayor Pat Flury
Commissioners: John Bertino (arrived after roll call)
Bob Mikes
C.K. McElyea
City Manager Ivan Pato
City Attorney Tom Ansbro
City Clerk Charlene Johnson
• 3. Update on Harbour Towne Lease and report on marina property appraisal.
City Attorney Ansbro introduced Lenwood Gilbert, the appraiser retained to
prepare an appraisal report for the marina located on City property. Through a
conference call, Mr. Gilbert shared his background information with the
Commission and gave a brief overview of the appraisal. He reported that he
visited the site and obtained a copy of Harbour Towne's entire financial
statement and their leases. He also contacted several municipalities with
marinas throughout the State of Florida.
One method used to determine rental rates was a percentage of the appraised
value of the land times the rate of return. He determined that the raw land value,
excluding the land occupied by the civic center and related parking area was
valued at $4,400,000. Based on an 8% figure the annual rental rate would be
$352,000. The improvements to the property are not owned by the City and
could not be included in the appraisal.
Another method used to determine rental rates was a percentage of gross
revenues. After review of the financial statements and visiting the site, the
amount of gross revenues was determined to be $2,800,000 annually. Based on
an 8% figure the annual rental rate would be $224,000.
•
MINUTES 1 DECEMBER 19, 2002
WORKSHOP MEETING
Mr. Gilbert advised that the final appraisal report would be available on January
3, 2003.
4. Discussion of Pier Restaurant
City Manager Pato reported that a prospective tenant presented an offer to lease
the pier restaurant for a fixed rental fee of$8,000 per month or 8% of gross
revenues, whichever is greater, for a 10-year term, with two 5-year options. The
prospective tenant would build the interior of the restaurant, install the equipment
and furnish it with a minimum seating capacity of 200.
City Manager Pato introduced Ms. Stork who advised that they were proposing to
run a family style lunch and dinner operation and were also considering breakfast
on the weekends.
The City Commission generally agreed to allow the City Manager to move
forward with developing a lease agreement and to allow the architect to finalize
architectural renderings for the restaurant.
5. Adjournment
The meeting adjourned at 7:00 p.m.
• aLlw�-�
OB A O
MAYOR-C MMISSIONER
CHARLENE JOHN O
CITY CLERK
Respectfully submitted by Nanci Denny
APPROVED: July 8, 2003
MINUTES 2 DECEMBER 19, 2002
WORKSHOP MEETING