IOP Marina Restaurant Lease Proposals
The existing Isle of Palms Marina Restaurant lease expires in September 2020. On September 25, 2018, City Council decided to pursue the request for proposals method to obtain a new lease for the use of the restaurant.
The City engaged Lee & Associates to develop a favorable lease strategy for the City, manage the request for proposals process, and advise in contract negotiations.
On Friday, August 30, 2019, the City opened proposals for the Isle of Palms Marina Restaurant. Three proposals were received:
- Jay Clarke – Barrier Isles LLC
- Lowe, Ravenel Commercial Properties and IOP Marina
- Dave & Chrissy Lorenz, and Jon & Bridget Bushnell
On Thursday, September 26, 2019, a Special City Council meeting was held to allow a public presentation by the proposers about their vision and plans for the restaurant.
During a Special City Council meeting held on Tuesday, December 10, 2019, City Council voted for the City to enter into exclusive negotiations with the IOP Families Group (Lorenz & Bushnell) and begin a 90 day due diligence period.
On, February 25, 2020, City Council approved a 30 day extension to the due diligence period and exclusive negotiations with the IOP Families Group.