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Committee forwards one-year lease extensions for Treasure Island operations
Summary
The committee approved forwarding four resolutions extending Treasure Island Development Authority lease amendments with the U.S. Navy through November 2010 so TIDA may continue caretaker operations and subleasing during interim use; staff said transfer negotiations remain unresolved.
Miriam Saez, Director of Island Operations for the Treasure Island Development Authority (TIDA), requested committee approval of four lease amendments (housing, commercial, events and marina) that extend TIDA’s leases with the U.S. Navy through November 2010. Saez said the amendments allow TIDA to continue caretaker responsibilities and sublease properties that generate revenue to support operations.
Budget Analyst staff reviewed prior amendments and noted negotiations on a transfer remain unresolved; the lease extensions were presented as one-year continuations to maintain interim operations at no cost to TIDA. After brief public comment, the committee moved the four resolutions forward to the full Board with unanimous recommendation.
