The Monterey City Council is playing Russian roulette with the business owners on the Old Fisherman's Wharf and the result will be a disaster for one of California's most iconic landmarks. They are looking to impose unnecessary restrictions on how long business owners can lease the space they occupy. The new maximum term of 10 years will instantly make investing on the wharf economically unfeasible. In addition, lease hold improvements paid for by the business owners become property of the city at the end of the lease term. Based on the size of the investment it can easily take 20 to 30 years to get a return on the cost to open a wharf business. If you cannot get a lease term long enough to get your money back, why would you open a business in the first place? This is especially true if your trying to open a restaurant. Because of these policies, there is already a threat to a $3 million investment and opening of a new restaurant where the old Gilbert's used to be. If this nonsense is not addressed, world class restaurants such as the Old Fisherman's Grotto will eventually be gone and replaced by chains and fast food. A local treasure is in serious jeopardy. If you like to visit the wharf and enjoy its iconic atmosphere please take a moment to email the members of the Monterey City Council to let them know that you want these new policies changes to provide for longer lease periods. The email addresses are:
Timothy Barrett: [email protected]
Dan Albert: [email protected]
Alan Haffa: [email protected]
Ed Smith: [email protected]
Mayor Clyde Roberson: [email protected]
