Floridians who live in Fort Walton Beach might be aware of the parking problems when people are shopping downtown. Recently, a group of downtown business owners met to discuss the parking problems and the city’s denial of lease terms for 30 spaces that were purchased by a developer.
According to news reports, the business owners discussed how the lack of parking is driving their customers elsewhere, and some of the business owners also said that the parking problems are causing them to move to other areas in the city. One of the issues that were discussed was the city’s denial of the lease terms for the parking lot that was purchased by the developer. He reportedly asked the city to pay $1,650 in monthly rent to continue leasing the lot.
The city denied the lease terms because it had previously paid $250 in monthly rent under its old lease. The business owners are concerned that if the developer decides to make the lot private, it will decrease the availability of public parking even more.
The city said that it is not prepared to agree to lease the lot at a cost increase of 560 percent. It claims that it has added more than 100 public parking spaces in the last couple of years. The availability of parking is vital to the success of businesses. When lease negotiations fail for parking lots in premium locations, businesses may suffer financially. Real estate owners who want to negotiate lease prices with the city might benefit by getting help from experienced real estate lawyers. The attorneys may assist their clients in reaching a mutually agreeable price and terms that also protect the interests of their clients.
Source: NWF Daily News, “Business owners, city squabble over parking spaces,” Heather Osbourne, Dec. 19, 2018.