Last week’s cover story, “Lazio’s Last Stand”
(July 31, 2008) Last week’s cover story, “Lazio’s Last Stand,” contained several errors in respect to the Bayfront One property development.
First, there are two other partners in the property, apart from Greg Pierson and Larry DeBeni, who were cited in the article. They are Susan Rasmussen and Catherine Dunaway. Second, the article misstated the city of Eureka’s zoning requirements on the first floor of new waterfront developments. They must be targeted specifically to tourism, a far more restrictive requirement than simply “commercial” uses. When the partners developing the property acquired it, there was much more to do than simply secure financing, as stated in the article. In fact, the development required significant redesign as well as a lot subdivision before it could go forward.
Though an application fee for a coastal development permit typically costs around $10,000 for a project of Bayfront One’s scale — not $25,000, as the article stated — there are a number of other out-of-pocket costs associated with bringing a project to that stage, including a costly environmental impact report. There are no sales currently pending on the seven residential condos that are part of the Bayfront One project. Two are sold, the other five are currently being utilized as vacation rentals.
Finally, the Journal appears to have misquoted developer Greg Pierson as saying that the city of Eureka “goes ahead, constructs things without the consent of a lot of the fishermen down there on the Eureka waterfront..” Pierson vehemently denies saying any such thing, and the reporter has no record of him doing so.
The Journal deeply regrets the errors.
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