Waterfront Leases at Center of Election
Ventura voters will be asked to decide this November whether the city’s charter should be changed to allow longer waterfront leases on city property.
The Ventura City Council voted earlier this week to put the issue to the electorate. The measure will call for extending waterfront leases to 30 years.
The issue arose when developers hesitated to open a restaurant on the Ventura Pier because the city’s charter only permits a 10-year lease on waterfront properties. When the lease is over, the city opens the lease for bidding again and the longtime renter has no legal advantage over other competitors.
Restaurateurs say 20- to 50-year leases are more common in the industry, and necessary to allow a business to recoup its investments.
Restaurateur Eric Wachter, who is negotiating with city officials to open a restaurant on the pier, has said if the ballot measure does not pass, he wants a guarantee that Ventura will either renew his contract in 10 years or buy out his business.
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