HomeMy WebLinkAboutSS2 - Summary of Harbor Fees Implementation - Public CommentSeptember 19, 2013
To C hric Miller•
Agenda Item No. SS2
Public Comments
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This is a comparison between the dock value, and the mooring permit value.
Description
DOCK
MOORING
DIFFERENCE
Dock, and Mooring
$5,000,000
$100,000
$4,900,000
Permit hnlders
Estimated net worth
Permit annual cost
$100.
5800.
$700.
(before increase)
Permit annual cost
$300.
$2,500.
$2,200.
(after increase)
Estimated value
$750,000*
$30,000
$720.000
( *adds to house)
Time to sell
infinite
7 years, and
2 more times
Able to rent
Yec
No
After 7 years All options No options
Permit fees should $7,500 $300
be adjusted to and
In -line with one
another at 1%
The city of Newport Beach, City manager Dave Kiff has needed more
money for the harbor, so he raised the mooring permit fees from $800 /year,
to $2500 /year over five years. He also raised the dock permit from
$100 /year, to $300 /year. Dock permit holders are allowed to rent them out,
and in some cases yielding over $3,000 /month, but the mooring permit
holders are not allowed to rent their out. Also in seven years, the mooring
permit holders will not be allowed to sell the mooring, and the dock permit
holders can sell, with their house, any time. Since the permits are the same,
covering over tide land, we only ask that we all share the same expenses. If
the dock makes the house worth $750,000 more, as opposed to one without,
then at 1 %, they should pay 7,500 /year. The mooring permit holders should
then pay $300 /year at 1%. We the mooring permit holders will be paying
$2500 /year, and the dock permit holders will only be paying $300 /year, in
two, three years. Pease change to the newl% evaluation All these numbers
are approximate, and good estimates.