Tonight the Newport Beach City council voted to increase Commercial Marina Tideland Rates. With the Three Amigos, (Rosansky, Henn and Selich) looking for their forth vote all eyes and ears focused on Rush Hill as he clicked on his mic. Hill was the deciding vote and his comments swayed from side to side of the issue like an IOR boat in a big breeze. Then, you knew it was coming, the big round down "I will only support this motion if we have a two year waiting period before we implement the proposed Target Index Phase, we still need two years to heal from this crippling recession". (Thats not really what he said word for word but close enough for my blog). Council member Henn, quickly counting votes, decide to 2nd Hill's substitute motion and the question was called.
Bottom line: No rent increase for the Marina Tidelands permits for the next two years. Rate will then increase to .36 per square foot and increase over 8 years to about 1.89 per square foot. It came to about an 18.5% increase.
Will the Marina Owners continue their fight? Yes, I see them getting more involved in City Politics and work to appeal this new code.
Did Council member Hill miss an opportunity to gain some political hay? Yes, He should had said two years with no change and max the increase at 14.5%. I don't think it would have passed but it sure would have been fun to watch.
I hope the home owners are ready to change their spinnakers down to a 1.5 because this rent squall is now headed their way!