The Economic Matters Committee of Annapolis convened on September 17, 2025, to discuss several key issues, with a primary focus on the proposed lease for the fall boat shows from 2031 to 2036. The meeting, attended by committee members and city staff, aimed to approve the agenda and review previous meeting minutes before delving into the lease discussion.

The proposed lease, identified as O3225, is set to replace the current agreement once it expires. Representatives from the United States Yacht Shows, including President Mary Hewinson, provided insights into the lease's structure. The new lease maintains the same rental format as before, which includes a base amount that will escalate annually or be based on a percentage of gross revenues. However, the lease has been revised for clarity and to address various operational issues that have arisen over the past five years.

One significant aspect of the new lease is the inclusion of flexible language that allows for adjustments related to construction activities in the area. This flexibility is crucial as the city anticipates ongoing construction that may impact the premises used for the boat shows. The committee expressed optimism that the construction would be completed by the time the new lease takes effect in 2031.

In addition to the lease discussion, the meeting included procedural approvals, such as the agenda and previous minutes, indicating a structured approach to the committee's operations. The discussions highlighted the city's commitment to fostering events that contribute to the local economy while ensuring that agreements are adaptable to changing circumstances.

As the committee moves forward, the approval of the lease will be a significant step in securing the future of the fall boat shows, which are vital to Annapolis's economic landscape. The next steps will involve finalizing the lease terms and addressing any remaining concerns related to the construction and its impact on the event's logistics.