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The Board of Selectmen tonight approved an extension of the town lease with Longshore Associates of Westport to run the Inn at Longshore, but the matter still needs Planning and Zoning Commission approval.
The extension lasts 10 years with an increase in the rent and there are two options to extend the lease by five years each, said Town Attorney Ira Bloom.
The Board of Finance approved the lease during its meeting last week (See WestportNow Dec. 6). The P&Z is scheduled to review the matter at its Dec. 21 hearing.
There are two years remaining on the current lease, so the new one does not start until 2009.
The rent for the first year of the new lease is $675,000, and there is a formula included in the lease to adjust the rent based on revenue from events at the facility.
The rent for the final two years of the current lease also increased to $425,000 and $525,000 from $325,000 and $345,000.
Bloom said it is an excellent lease because of the finances and the use of the property.
Additionally, he said, it retains a renter who has been good for the town
First Selectman Gordon Joseloff said a lot of hard work went into the new lease.
He is comfortable with it, he said, and looks to continuing a good relationship with Longshore Associates.
