Clarksville, TN – Yesterday evening council members received the proposed lease agreement on the marina/park restaurant. It and the total package for the marina come to 268 pages to review for a special session of the city council to be held this afternoon at 5:00pm.The mayor wants a vote on the proposals at today’s session. Needless to say, this is near an impossible task to do in less than 24 hours…..and do a good job of it.
I am trying to review as much of the proposed marina lease as possible before the meeting. I’ll pass on the highlights of the restaurant lease as I get through it.
I can tell you rent rates (restaurant) have gone up and by year three of the lease match the minimum I asked the legal staff to fight for ($25,000/year) over previous proposals. That amount equals what the city would get from a $5 million dollar investment from a business that pays property taxes to the city.
However, the lease contract is being built so the business owner will not have to pay property taxes on his business (to us or the county). It appears that the business assets will be legally “owned” by the city.
If there is a falling out with the business owner or something else happens the city would pay the owner the fair market value of the assets to officially own them. As I mentioned there is a large amount of legalize in this and many questions need to asked before we vote on this agreement.
Editor’s Note: This article contains the view points of Councilman Bill Summers and may not represent the views of the rest of the City Council, the City of Clarksville or ClarksvilleOnline.