Yesterday the Orange County Board of Supervisors unanimously approved an agreement with Dana Point Harbor Partners to redevelop and operate our harbor for the next 66 years. Let's be clear on this point: This is the most meaningful milestone among 21 years of milestones on the path to rebuild our harbor. There is still work to be done before a final redevelopment and lease agreement is signed, but unless a major ball is dropped in the next few months, yesterday sealed the deal.
What does yesterday's action really mean? The Board of Supervisors' approval gives Dana Point Harbor Partners the option to proceed with redevelopment and management of our harbor for 66 years, so long as specified conditions are met within 90 to 120 days. When these conditions are met, the lease agreement will be signed and the deal done. We're that close!
What's next? Over the next three to four months, Dana Point Harbor Partners will perform the work specified in the option agreement signed yesterday. They will continue to collaborate with our Boaters Association, the merchants, the Dana Point Harbor Advisory Board, and others to develop the final plans for the future of our harbor. When the conditions of the option agreement are met to the satisfaction of the OC Chief Real Estate Officer, with input from our community, the final lease agreements will be signed, likely in October or November. Then the work of rebuilding our harbor begins.
Also, as we described in our most recent newsletter, we believe our harbor community should remain involved in the developments that take place during this 90- to 120-day option period, which we requested at yesterday's Board meeting. We are grateful to 5th District Supervisor Lisa Bartlett for issuing a directive to OC Real Estate to include the Dana Point Harbor Advisory Board in a review of these option-period materials.
For those of you watching, these are the most transformative days for our harbor since its creation nearly 50 years ago. The next few months will be a flurry of activity. Please stay tuned, stay involved, ask questions, and pay attention. We are rebuilding our harbor for the rest of our lives.
Thank you for your interest and support.