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Council approves first reading of concession lease for Point Pinos restaurant; resident questions deposit and insurance
Summary
Council held the first reading and approved an ordinance to lease the golf-course restaurant to Fortunate Fork LLC (The Grove at Point Pinos) with a five-year term, two five-year options, and a rent formula capped at $13,500 monthly; a public speaker urged review of the $11,000 security deposit and insurance limits.
City staff presented a first reading of an ordinance approving a concession lease with Fortunate Fork LLC to operate the golf-course restaurant as The Grove at Point Pinos. Nick Cena, presenting the item, described the RFP process: two proposals submitted, Fortunate Fork selected as the top-rated proposer, a five-year lease term with two five-year tenant options, rent at 7% of monthly gross sales with a monthly cap of $13,500 escalated 3% annually, and a target opening in June or July if approvals proceed.
Paul Dyson, who said he recently moved to Pacific Grove, spoke in support of finding a new tenant but urged the council to revisit certain lease terms. "Looking at appendix D, there's a lot of equipment that goes with the lease, but the security deposit is only $11,000 ... that seems like a very light amount to cover those effects," Dyson said, and he also suggested reviewing liability-insurance minimums.
Council members said staff and legal counsel had reviewed the submissions and the draft lease and proceeded with a motion to approve the first reading. Council approved the first reading on roll call; the second reading and final adoption are scheduled for a later meeting (staff indicated May 6 as the likely second-reading date).
