SAN DIEGO UNIFIED PORT DISTRICT
AN ORDINANCE AUTHORIZING
AN OPTION TO LEASE AGREEMENT WITH
POINT LOMA MARINA, LLC
The Board of Port Commissioners of the San Diego Unified Port District does ordain as follows:
Section 1. The San Diego Unified Port District (District) hereby grants an Option to Lease Agreement and authorizes the Executive Director or his authorized representative to execute said Option to Lease Agreement with Point Loma Marina, LLC, a California limited liability company, (formerly known as The Wharf, LLC) to lease certain District premises of approximately 75,650 square feet of land area and approximately 163,285 square feet of water area located at 4960 North Harbor Drive the City of San Diego, for the purposes of an approximately 275-seat full-service restaurant and cocktail lounge, approximately 5,000 square feet of retail and maritime office space, an approximately 4,000 square-foot food court, approximately 11,000 square feet of maritime offices, marina offices and marine support amenities, a marina with approximately 50 slips, approximately 173 parking spaces (including designated adjacent off-site parking spaces), public park, public promenade, public pedestrian pier, and various marina-related operations and businesses. The Option to Lease Agreement is for a term of One (1) Year commencing April 1, 2005, and ending at 5:00 P.M. on March 31, 2006, and said Option to Lease Agreement is subject to earlier termination in accordance with the terms, covenants and conditions contained therein, on file in the office of the District Clerk as Document No. 48530; provided, however, in the event any of the events listed in Paragraph 15, Force Majeure, cause delay, said Option to Lease Agreement may be extended for no more than Ninety (90) days.
Section 2. Upon timely performance and exercise of said Option to Lease Agreement, the Executive Director or his authorized representative is hereby directed to execute the Lease with Point Loma Marina, LLC, which is attached to said Option to Lease Agreement.
Section 3. This ordinance shall take effect on the 31st day from its passage by the Board of Port Commissioners; provided, however, in the event Point Loma Marina, LLC, does not provide parking lots with approximately Twenty Three (23) on-site spaces and approximately One Hundred Fifty (150) spaces located on the adjacent Driscoll's Wharf leasehold, and further satisfy the conditions set forth in Paragraph 5 of the Option to Lease Agreement, entitled Conditions Precedent, said Option to Lease Agreement shall be null and void and of no further force or effect.
YEAS-Bixler, Cushman, Hall, Hangafarin, Spane,
SIGNED BY: William A. Hall, Chairman
ATTESTED BY: Wayne K. Darbeau, District Clerk
Pub. March 23-k113607
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