This November, St. Petersburg voters will be asked to consider a change that could have a significant impact on the future of the Port of St. Petersburg and the growing innovation ecosystem surrounding it.
Ballot Question 4 asks voters whether the City Charter should be amended to allow leases at the Port for up to 25 years. Today, the Charter limits Port leases to 10 years unless a longer lease is approved through a citywide referendum. The proposed change would bring the Port's lease limitation in line with neighboring Albert Whitted Airport, where voters authorized leases of up to 25 years in 2004.
Why does that matter? The Port is more than a traditional waterfront facility. Located just south of downtown and adjacent to Albert Whitted Airport, it sits within a concentration of maritime research, government, academic and technology organizations. Longer lease terms could give the City greater flexibility when negotiating agreements with entities interested in investing in Port facilities. Importantly, the referendum would not change the permitted uses of the Port, and individual leases would still require approval through the City Administration and City Council processes.
For the Innovation District, the question is particularly timely as interest in ocean technology continues to grow around the Port. The referendum does not approve a specific development or lease. Rather, it asks voters whether the City should have the ability to consider lease terms of up to 25 years when future opportunities arise.
If you have any questions about this opportunity, please reach out to the Innovation District team.
Alison Barlow,
Chief Executive Officer
spARK Labs by ARK Invest was recognized at our 10x10 Celebration in April for being a place where founders and entrepreneurs gather to shape what the world has yet to imagine.
We're proud to announce that Boothman Global has joined the Maritime and Defense Technology Hub.
Highlighting the organizations and individuals part of the Innovation District!