Why people are voting "no" for Grove Bay

A couple of friends voted no regarding the Grove Bay Waterfront Project at Scotty's Landing this is what caused them to vote no.

1) a 50 year lease with two 15 year options (80 years) to a private firm who promise $1.4 million annually. The Cheesecake Factory pays $250,000 per year. So we are giving 7 acres to a private group for the equivalent of six Cheesecake Factory rents.

2) the property includes submerged lands with no indication of its use.

Very interesting. Why the submerged lands? Are they next going to put a marina in?

This whole vote is very sketchy, again, here is the whole issue on the ballot, it really does not say anything and sort of gives everything to the developers to do with what they wish:

Proposed lease of city-owned waterfront and submerged lands in Coconut Grove 

Shall the City be authorized to lease approximately 7 acres of waterfront and submerged lands in Coconut Grove to Grove Bay Investment Group, LLC, providing for 1) a minimum of $1.4 million in guaranteed annual rent and 2) approximately $17.9 million of privately funded improvements to redevelop an existing marina and public baywalk, construct restaurants and, partially fund a public parking garage for a 50 year term with two 15 year renewal options? 

That is why voting NO on this is the best choice for the moment. Once we give this away, that's it for 80 years. Who knows what will end up on that land. It's all about getting their hands on the property and the submerged lands and then what?You can get more info on Stop Grove Bay here.