Local News in Brief : Marina Lease Proposal

A plan to extend the leases of marina operators and increase the county’s revenue from Marina del Rey has been proposed to the county Small Craft Harbor Commission.

Marina operators say they need longer leases to obtain loans for expansion. The plan faces stiff opposition from critics, however, who contend that it favors the operators at the county’s expense.

The county owns the 800-acre marina and rents parts of it to 56 marina operators, who run the 6,000 boat slips, 5,800 apartments and scores of retail and other businesses under 60-year leases. The county receives a percentage of their revenue.

The leases are scheduled to expire in about 30 years, but the marina operators say they need at least 40 years on their leases if they are to convince bankers that they are worthy of long-term loans needed for improvements.

Negotiators for the lessees and the county have fashioned a “statement of intent” that calls for marina operators to pay higher rents and get an option to extend their leases by 39 years. To get the extension, they would have to pay an additional fee, which has not yet been determined.