Editorial - Shelter Bay Lease - A very tough choice

I wasn’t going to weigh in on this issue, but several people have asked me to state my views on next week’s vote to decide whether the Shelter Bay Company should proceed with replacing its lease with the Swinomish Tribe.

Although I understand the issues, the costs, the various mechanisms for figuring costs and have had several people at my desk explaining their very convincing reasons for voting either “Yes” or “No,” I’ve come to the conclusion that there is no good option.

Fear – perhaps growing out of the Shelter Bay board’s description of the tribe’s proposal as the “best and final” – seems to be playing a role with some “yes” voters. Let’s face it; the thought of everything on the land reverting to tribal ownership at the end of the present lease in 2044 is truly frightening to anyone whose home is their main nest egg.

I completely understand people signing on to a more expensive lease to hang on to the equity they worked so hard to build.

Fear comes into play on the “no” side, too. In seven years the rents will double – OK, some insist triple – under the new lease proposal. Retirees who have paid off their mortgages and are living on fixed incomes, don’t expect to see their Social Security checks double or triple over the next seven years.

There is a very real possibility that some people will be priced out of their homes as the rents ramp up.

On both the “yes” and “no” sides there is fear home values will plummet. Seniors are afraid of having their home equity erased – in some cases equity they’re banking on should they ever need nursing home care, or equity to leave for their children to inherit.

Some people will vote yes, hoping the additional 45 years added when the present 75-year lease is replaced 29 years before it expires will make it easier to sell their homes. Some people will vote no, hoping the tribe will come back to the bargaining table so they can live out their days in a home they can afford.

The main thing to keep in mind is this is the tribe’s land. And landlords have every right to decide what rent they will charge.

I do not own a home in Shelter Bay. But if I did, I would probably want to hold off on replacing the lease right now. I don’t see any advantage to rushing it.

That’s because attitudes and politics change constantly. Tribal Senators and Shelter Bay board members are elected. Tomorrow’s tribal leadership might not have the same “best and final” bottom line as today’s tribal leadership and tomorrow’s Shelter Bay board might be able to negotiate terms residents like better.

Four or five years can be an eternity when it comes to politics and attitudes. There is a risk in turning down the certainty of a new lease today, but I’m the type who would chance it. Still, I understand how living with uncertainty can be way too stressful for someone else.

So, to my Shelter Bay friends I say: Carefully consider all your options when you vote and cast the ballot that feels right to you. Just remember how blessed you are to live in a beautiful community. No matter how this turns out – and things do work out eventually – please relax and enjoy your home for as long as you can. – Sandy Stokes