<div dir="ltr">Good news for those of us that sail in Clipper Cove...<div><br clear="all"><div><div class="gmail_signature"><div dir="ltr"><div><div dir="ltr"><div><font face="arial, helvetica, sans-serif"><span style="color:rgb(0,0,0)">Best regards,</span><br style="color:rgb(0,0,0)"><span style="color:rgb(0,0,0)"> </span><br style="color:rgb(0,0,0)"><span style="color:rgb(0,0,0)">Al</span></font><br></div><div><font face="arial, helvetica, sans-serif"><span style="color:rgb(0,0,0)"><br></span></font></div><font color="#666666"><a href="mailto:asargent@stanfordalumni.org" target="_blank">asargent@stanfordalumni.org</a> | +1 650 269 2176</font></div></div></div></div></div>
<br><div class="gmail_quote">---------- Forwarded message ----------<br>From: <b class="gmail_sendername">Save Clipper Cove</b> <span dir="ltr"><<a href="mailto:huntercutting@gmail.com">huntercutting@gmail.com</a>></span><br>Date: Sun, May 15, 2016 at 2:08 PM<br>Subject: A Victory (!) - Commissioners refuse to endorse mega-marina loan<br>To: Al Sargent <<a href="mailto:asargent@stanfordalumni.org">asargent@stanfordalumni.org</a>><br><br><br><u></u>
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<a style="color:#ffffff;font-weight:bold;text-decoration:none;word-wrap:break-word" href="http://saveclippercove.nationbuilder.com/?e=5eb48d522cae981610c5130a028602da&utm_source=saveclippercove&utm_medium=email&utm_campaign=dbwvictory&n=1" target="_blank"></a><h1>Save Clipper Cove</h1>
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<td style="font-family:Arial,'Helvetica',sans-serif">Al -- <br><br>
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<div><span><span>A victory!!</span></span></div>
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<div><span><span>This last week State Commissioners
refused to approve a $22 million public loan for construction of a
private mega-marina in Clipper Cove at Treasure
Island.</span></span></div>
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<div><span><span>Deadlocked by a 2-2 vote on
Wednesday, Commissioners for the California Division of Boating and
Waterways (DBW) declined to endorse a DBW staff proposal to
conditionally fund just $4.2 million of the proposed $22 million
loan. The loan application had been submitted by Treasure Island
Enterprises, the consortium of real estate speculators seeking to
build the mega-marina. And the loan application had been endorsed by
the Treasure Island Development Authority Board led by Board Chair
Vivian Fei Tsen.<br><br>The champions on the DBW Commission who stood
up for public use at Clipper Cove were Katherine Pettibone and Cecily
Harris. Pettibone and Harris deserve applause for standing tough in
the face of heavy pressure by developers. <br></span></span></div>
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<div><span><span>The DBW staff report noted
"financial inconsistencies" in the loan application as well as
“issues” regarding “public support” and “permitting.” Numerous public
interest groups spoke at the Commission meeting prior to the vote,
urging Commissioners to postpone consideration of the loan. Groups
urging postponement of loan approval included the Sierra Club, the
U.S. Sailing Association, and the Treasure Island Sailing
Center.</span></span></div>
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<div><span><span>The DBW staff report recommended
approval of just $4.2 million in order to encumber current year
funding provided in the State’s fiscal year budget. The staff also
recommended that disbursement of the loan be withheld until all
financial inconsistencies were “resolved” and “all outstanding issues
described in this report have been addressed.” </span></span></div>
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<div><span><span>Nevertheless, the DBW Commission
refused to endorse even a partial loan with conditional terms
recommended by the DBW staff report. </span></span></div>
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<div><span><span>Action on the loan application now
shifts to DBW Deputy Director Lynn Sadler to take a final decision
later this spring.<br><br>In the meantime, the campaign to save
Clipper Cove will return to the board members of the Treasure Island
Development Authority (TIDA) and urge them to reconsider the proposed
mega-marina. The clear rejection by state DBW commissioners who
refused to endorse even conditional financing should be a wake-up call
for TIDA Board Chair Tsen and her fellow board members. This proposed
marina project is off-track. The TIDA Board needs to step up and rein
the marina project back in.<br></span></span></div>
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<br><br>Save Clipper Cove<br><a href="http://saveclippercove.nationbuilder.com/?e=5eb48d522cae981610c5130a028602da&utm_source=saveclippercove&utm_medium=email&utm_campaign=dbwvictory&n=2" target="_blank">http://saveclippercove.nationbuilder.com/</a>
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Save Clipper Cove · United States
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