Tuesday, June 17, 2008
That's $1882 a month
A longterm sweetheart deal was perpetuated after a negotiated settlement between the city of Middletown and Harbor Park lessor, Frank Maratta.
While the mayor has been talking tough for months about ejecting Maratta from his long-term lease, and a promised additional 25 year renewal, it seems that Maratta's threat of lawsuit may have prompted the mayor to negotiate. (Be sure to read the "comments" section in the originally posted, on-line Courant article - thanks Vijay)
The deal is laughable. A 25 year extension of a lease for a tenant who has repeatedly ignored city noise ordinances, and has done little to improve the musty interior of the restaurant through which the Connecticut River runs most Springtimes, seems shameful. But inevitable. Maratta apparently won the extension in negotiations which included his promise to improve the site, and make design changes to lessen noise from rock bands who play outside on the deck in the evening.
The most ridiculous clause in the agreement is the lease amount - $22, 624 annually. That's less than many Middletown residents pay for monthly mortgage payments, and Maratta has a prime location, on prime real estate fronting the River.
Yet another example of bad deals done by the city which never tires of bad deals.