Photo Credit: Yelp
In more shocking news from Sacramento, the Chronicle reports that an audit of the State Lands Commission- the peeps who manage leases of state land- found that in a sampling of thirty-five properties (out of over a thousand leases) the commission had failed to collect revenue of $8,200,000 or reappraise the properties for increases. Biggest offender in the study is Crockett Marine Services under the Carquinez Bridge, which also operates the Nantucket Restaurant, a waterfront fish & chips dive loved by those who love waterfront dives, fish & chips, and the steady thrum of traffic overhead. Failing to pay rent since 1989, they currently owe $662,000, which comes out to about $2500 a month, or for more immediate perspective, a one-bedroom apartment in San Francisco. The matter's been turned over to the Attorney General, but as the commission's director says "We don't really know what happened with this one." Commission leases contribute about $400M annually to the general fund. The halibut and squid were both unavailable for comment.
· State Lands Commission Misses Millions in Rent [SF Gate]
· State Lands Commission [State of California]
· The Nantucket Restaurant [Yelp]