My View: Marina Jack's annual financial obligations exceed the average

In response to Rod Thomson’s “My View” editorial of Dec. 2, although he is entitled to his opinion, the matter of Marina Jack’s ad valorem tax status will be decided judicially based on facts — many of which were misconstrued in Mr. Thomson’s column. 

Rather than continuing to foster public misconception about Marina Jack and its partnership with the city, we think a better service could be provided by outlining the facts accurately.

The most glaring factual discrepancy is the comparison of Marina Jack’s restaurant to any other restaurant in the city of Sarasota. Because the very underpinnings of the restaurant and marina are city-owned assets, Jack Graham Inc. (parent company for Marina Jack) is held to a much a higher standard than any of the restaurant-only facilities Mr. Thomson mentions.

According to public records, the landlord’s expectation for Marina Jack is to provide “a public service to the inhabitants of the city of Sarasota in their pursuit of recreation … ” and, further, that the facility would “serve the economic welfare of all the inhabitants of the city by virtue of being an attraction to visitors and tourists” as well as residents. 

To that end, JGI has privately financed more than $10.5 million in dock facilities and improved amenities since 1995. These are capital improvements that increase the value of the city’s asset. They also enhance the city’s revenue stream from the operations; they have resulted in increased performance rent payments on top of the base fees included in the lease.  

When the performance rent, facility investments, other costs and fees Marina Jack incurs per city and state conditions are considered along with the base rent, not only do Marina Jack’s annual financial obligations exceed the national average for agreements of this kind and type (according to the city’s own consultant, Mr. Jeffrey Walker; whose report is of public record), but they far exceed typical overhead paid by local restaurateurs. 

Taxpayers and Observer readers would be better served to learn more detail of the public benefits derived through the investment of more than $10.5 million in facility upgrades of city-owned property that have been privately financed without ever requiring any subsidy from the city. That is one of the clearest distinctions between Marina Jack and other restaurants mentioned by Mr. Thomson. Not to mention how the community shares in Marina Jack’s business success through the $3.5 million payroll generated annually by more than 150 employees, whose wages circulate back into the local economy.

The implication that Marina Jack is not doing its utmost to be a fair and responsible partner to the public interest is preposterous. No other restaurant operator is expected to meet the threshold that Marina Jack has met or exceeded since JGI assumed responsibility for one of our area’s most beautiful and prized possessions in 1968.  

I’d also like to point out that Marina Jack has been paying all other customary business-related taxes and has been operating according to the 1988 court decision that established our property-tax exempt status. 
Sarasota Property Appraiser Bill Furst instigated the current legal challenge through an overzealous and erroneous interpretation that a new agreement was enacted in 2006. Marina Jack is merely exercising our legal right to defend our position. 

We are not interested in a prolonged legal conflict and will honor the court’s decision.

Bob Soran is the CEO of Jack Graham Inc.