Board hears marina code and lease update, later recommends settlement resolution in AFFF litigation
Staff updated the board on the Lake Weatherford Marina lease (original 2003 agreement with automatic renewals and amended payment terms) and recent code enforcement and repaired items; after recessing to consult attorneys, the board recommended city council adopt Resolution R2000And24Dash20 to accept settlement agreements with Tyco and BASF relating to AFFF products liability litigation.
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Rick Schaffer and code/permitting staff briefed the board on the Lake Weatherford Marina lease and recent compliance work. Schaffer said the original lease dates to 2003 and was amended in 2004 and 2010 to adjust construction timing and payment terms; under the contract the lessee was to provide boat slips, beach, fueling/loading docks, a restaurant, convenience store and bait shop, among other items, and payment terms included 3% of gross receipts during the first 20-year term, rising to 5% thereafter with a $500 monthly minimum.
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