Betsy Peabody Sent - City of Bainbridge Island

From: Chris Van Dyk
Sent: Thu 8/19/2010 11:02 AM
To: ‘Val Tollefson’; ‘Wini Jones’; Tami Allen; ‘Stephen Streufert’; ‘Paul Ziakin’; ‘Kevin Dwyer’; ‘John Doerschuk’;
‘John Demeyer’; ‘Jim Reilly’; ‘Grant Dull’; ‘Eric Turloff’; ‘Deb Rudnick’; ‘Cindy Robinson’; ‘Betsy
Peabody’; ‘Debbi Lester’; Council
Subject: RE: WSF property disposition issue
Val’s points are excellent, and I wish to concur with all of them.
From an ‘investment’ perspective, ‘taking the money’ now, in my view, is short-sighted.
Revenue generating opportunity from public/private development of the property----and from informal discussion
and review that I have had with marine industry participants, the property is large enough if used creatively,
for uses that would both benefit the community and be profitable for a lessee----that future development will
result in the community getting both the property, and from even nominal leasehold payment plus tax revenue,
the investment capital with which to pursue not only that development but with revenue from a long term lease
and taxes, other improvements around the harbor.
Before discounting the revenue generating capability of the property, and acting in a way {‘taking the money
now’} that precludes its use for the long term developement option, I would strongly urge the Council to formally
approach the marketplace in the form of an RFP or other mechanism that is of minimal cost to the City.
Unfortunately, I share the scepticism expressed by many that the City could effectively, and certainly quickly,
conceive and invest the money in other projects with this degree of potential benefit. Regardless, the downside
to getting the property and control over its future use is limited. Even if the City were to ultimately just sell it,
or use it passively, whatever use could not possibly be worse or less beneficial to the community than as currently
used by the ferry system --- a parking lot for Seattle-based ferry workers who ought to be more efficiently
utilizing (their own) public transportation by walking, both aboard the ferry and the last quarter mile to their
jobs.....
As a disclaimer, I would simply note that I strongly support the continued presence of the ferry maintenance terminal
where it is. But part of that use should be the best and highest use of the land-----either use it intensively
for an industrial, waterfront use of demonstrable economic or recreational use for the public, or give it over to
those who will so use it.
With all due respect, I am,
Sincerely yours,
Chris Van Dyk
Principal Owner,
Bainbridge Media Group, Inc.