Panel to explain impacts of new Shelter Bay lease

The Shelter Bay Community has scheduled three meetings on Saturday for residents to hear information from consultants regarding the tribe’s “best and final” proposal for a new Master Lease.

Nearly two years ago the Swinomish Indian Tribal Community presented its proposal to replace the present lease, which expires in 2044, with a new 75-year contract.

Shelter Bay consists of about 800 homes built on land originally leased from the tribe and individual tribal families in 1968. With leases set to expire in about 27 years, it is impossible for homeowners to obtain typical 30-year mortgages.

Under the terms of the proposed lease, homeowners wouldn’t see a huge rate increase until 2023, and after that the amounts would ramp up sharply.

Also, the original lease was for raw, undeveloped land. Since 1968, the community has been subdivided and has streets and other infrastructure. The tribe wants the new lease to reflect it’s “finished subdivision” value.

According to the community’s Lease Advisory Group, Saturday’s meetings will feature “experts in utility infrastructure, appraisal practices, economic and land use/real estate law.”

Three meetings are scheduled at the Shelter Bay Clubhouse on Saturday, at 9 a.m. for residents whose last names start with A through G; 12:30 p.m. H through O letter names and 4 p.m. for the rest of the alphabet. People are asked to come to their assigned meetings if possible, to make sure there is enough seating. However, there is no penalty should somebody with a B name show up at Q time.