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City Of Key West And US Navy Agree To Terms For Truman Waterfront Conveyance

10-4-02  Key West Mayor Jimmy Weekley announced today that the City of Key West and the Navy have agreed upon the terms for conveyance of the Truman Waterfront property. The Navy is currently preparing the final agreement package that consists of the Memorandum of Understanding, the Economic Development Conveyance, and the Memorandum of Agreement. The documents will be reviewed by City associates and their consultants with hopes of presenting the agreement to the City Commission at its October 16th meeting for approval. The City expects final approval of this negotiated agreement from Navy headquarters in Washington, DC shortly thereafter.

"It's been a long time coming", said Mayor Weekley. "I think we've reached a fair agreement that will ensure the best interests of the City and the Navy. I also think the biggest winners will be our residents and visitors who will enjoy a beautiful brand-new park and harbor area."

The terms of the agreement consists of the transfer of 33 acres of land, including the East Quay, through a no cost conveyance. The City's development of the property will include parklands, a marina, and small retail shops.

City Manager Julio Avael stated that he is very comfortable with the agreement, although the City had to agree to several strict controls on the property by the Navy for security reasons. The agreement will include Navy imposed security requirements that may periodically be implemented in the harbor and on the city conveyed property, should the protection of Navy ships and personnel be required.

The Navy will defer conveyance of 16 acres, including the mole pier. However, Avael stated that the City's cruise ship program will not be affected by this decision. He pointed out that the City is anticipating nearly one million passengers this fiscal year into the Outer Mole, Pier B, and Mallory Square, which will produce $4,000,000 for the City's coffers and will generate $60,000,000 to the economy of the City.

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