Waterfront Project in West Palm

West Palm Beach to consider major move on waterfront project. The city will escape a monumentally bad lease with 67 years to run if the city commission and Florida Cabinet back a $40 million marina and hotel project at the downtown Palm Harbor Marina. The plan that city commissioners will consider Monday expands the docks from 14 to 25 acres, includes a 5 or 6 story boutique hotel with a waterfront restaurant and shops. They make money. The city makes $27,000 annually leasing the docks and submerged land to the Chases' firm, Leisure Resorts.

The new deal would guarantee the city 8 percent of the project's revenue as much as $600,000 but a minimum of $180,000. The deal would mean a 100 year lease and requires a swap of submerged land with the state. On June 12, the Cabinet will consider accepting 8 submerged city acres in front of the library in exchange for state submerged land at the marina. With the land the city already has at the marina, the total would be 26 acres. The city would also agree to spend $600,000 in improvements at Grassy Waters Preserve off Northlake Boulevard.

Posted by Donald Urschalitz P.A. at May 31, 2007 10:21 AM