Roosevelt Island Racquet Club 18 Month Construction Project Begins - Upgrades To Facility And Much Needed Improvements For Lighting And Walkways Between Tennis Bubble And Tram Station

Have you noticed the construction going on at the Roosevelt Island Tennis Bubbles between the Tram Station and Sportspark?

The construction is for facility upgrades being made to the Roosevelt Island Racquet Club which will include improvements to the walkways and lighting between the Tram Station and Tennis Bubbles.

As previously reported by Roosevelt Island resident Janet Falk, the area is in desperate need of better lighting.

 Image From Janet Fallk

Roosevelt Island Operating Corp (RIOC) Public Information Officer Alonza Robertson adds:

The year-round indoor tennis facility has recently started its second stage of capital improvements.

Current construction upgrades include installation of more LED lighting for the courts, repair and replacement of corroded piping, new insulation, clubhouse improvements and a new water cooler for cooling.

These projects, which were permitted by the Roosevelt Island Operating Corporation, have been in the design and engineering phase for the past 15 months. The facility’s management, in a binding resolution agreement with RIOC, also will make significant improvements to the walkways and lighting from the Tram Plaza to the entryway of the racquet club.

The construction work is expected to continue for 18 months.

As previously reported, in 2007 the Roosevelt Island Racquet Club received a very advantageous license extension from 2031 to 2046 for the approximately 70,000 square foot facility currently paying, according to the License Extension, the greater of  $275,000 or 10% of the Gross Receipts.

14 More Metered Parking Spaces Open To Everyone Now Available Below Queensboro Bridge - Tennis Bubble Losing Their Exclusive Parking Spots

The parking lot below the Queensboro Bridge which had been used exclusively by the Roosevelt Island Racquet Club (and before that was a Handball Court)

Image Of Roosevelt Island Parking Lot Below Queensboro Bridge From Google Maps

will now be a metered parking lot open to everyone.

According to the Roosevelt Island Operating Corp (RIOC):

Additional metered parking is now available in the parking lot on the east side of the Tennis Bubble (facing Queens), which is slightly south of the Roosevelt Island Tramway. 14 spaces are available at a rate of $0.50 per 15 minutes with a 6 hour time limit Monday through Saturday. Parking is free on Sundays.

Sincerely,

Roosevelt Island Operating Corp Advisories Group

UPDATE 6/18 - Here's the new metered parking spaces below the Queensboro Bridge

and next to the tennis bubble.

RIOC President and CFO Explain Roosevelt Island Budget To Residents During RIRA Town Hall Meeting

RIOC officials explain Roosevelt Island Budget during RIRA Town Hall Meeting

RIOC President Steve Shane and Chief Finance Officer Steven Chironis attended last Wednesday night's RIRA Town Hall Meeting to discuss RIOC's proposed 2009-10 fiscal year operating budget which was the main topic of the January 15 RIOC Board of Directors Meeting (The web cast of the RIOC Board meeting is available here) . They informed the approximately 20 residents present that despite the current national and local financial difficulties they are reasonably confident that RIOC will be able to finance Roosevelt Island's operating needs for the foreseeable future (the next 5 years).

Mr. Shane and Chironis explained the process they go through as they develop the budget and informed us that due to decisions made many years ago, Roosevelt Island has 4 budgets, an operating, capital, public purpose and reserve fund. The operating budget is to meet the annual needs of running Roosevelt Island such as operating public safety, picking up the garbage, RIOC salaries etc. The Capital budget is for major infrastructure improvements such as the Tram replacement, fixing the AVAC garbage system and seawall. The public purpose fund makes financial awards to local Roosevelt Island organizations. The Reserve fund is set aside for emergencies.

Those in attendance also learned that:

• $2.5-3 million in capital funds is available for renovating the Sportspark facility though a decision on how to use these funds is awaiting a decision on whether it is desirable and feasible to incorporate the adjacent Roosevelt Island Tennis Club into a larger Chelsea Piers like facility with Sportspark that the Tennis Club owners are promoting;
• $400,000 in NY City funds in available to renovate Blackwell House but if that money is accepted the use of Blackwell House will be limited to a museum exhibition space. A decision will have to be made if that is the type of use favored by RIOC and the community
• Revenue to RIOC from the Riverwalk developments has been less than anticipated due to the declining real estate market and certain payments to RIOC from the Hudson/Related developers of Buildings 5 and 6 due this year may be deferred. The opening of the new buildings has been pushed back to the Spring and according to RIOC only 40 of the 123 units in the condo building are in contract.

Mr. Shane and Chironis should be complimented for participating in the RIRA Town Hall meeting.

$225,000 License Fee for 70,000 Sq. Ft. of Waterfront on Roosevelt Island- Pretty Good Deal

I received message yesterday from RIOC President Shane in regard to this earlier October 11 inquiry regarding the proposed, now approved, Roosevelt Island Racquet Club License Modification.

Mr. Shane writes:

To answer your questions as raised in your e mail of 10/11 (and I do want to apologize for not having specific answers earlier, but as you know, I was in Europe until last Thursday, Thursday being the day of the meeting and the press thereof, Friday, the day after and yesterday I was in Albany at the Internal Control seminar called by the Comptroller and DOB.)

I responded:

Thanks for the reply. I will post later today or tomorrow. You are right that I knew you were out of town last week and may not have been able to respond to my inquiry of !0/11. That is why I also copied Erika Wilder, RIOC's community relations officer, so that I might get a response prior to the Board meeting when such information would have been of use to the community. if she is not the appropriate person to contact in your absence, who would you suggest to be the contact person in the future?

Here are the questions and Mr. Shane's answers. Mr. Shane's replies are indented. When Mr. Shane references a "schedule" to 9/27/07 memo he is referring to the memo that is included in this earlier post and I inserted the relevant portion into his answer.

What is the approximate square footage of the premises?

Approximately 70,000 sf

I understand from the webcast of the Real Estate committee meeting that the current base license fee is $225 thousand with approximately an additional $60 - $70 thousand in % fee. Is that correct?

Yes, but, see the entire schedule presented in my memo of 9/27/07, copy attached

What is the new proposed license fee?
See above schedule

How does the license fee for the Roosevelt Island Racquet Club compare to other similarly situated clubs in New York City? Is it comparable in terms of fees and term? Is it even a relevant question?

Other racquet clubs not relevant. We have ours. The property is devoted to recreational purposes in the GDP but unusable as "open" space because of the shower of auto parts from the bridge and is already under license to 2031, now as extended.

Since the current license term extends through 2031 why does it have to be extended for an additional 15 years? The waiver of any potential liability for tram discontinuance does not seem reason enough to justify such an extension. After all there have been previous occasions when the tram was out of service and to my knowledge no such liability occurred. The willingness of the Tennis club owner to spend additional sums on a market study to determine the potential of a business opportunity for themselves hardly seems reason for RIOC to extend the license term either. Please explain what benefit does RIOC receive in exchange for the additional 15 year term?

There was no "have to be" about the extension, but was part of the negotiation. Your judgment about the value of the waiver of liability for tram discontinuance is, of course, your judgment. While no action was brought for prior outages of the tram, the issue exists.

Why does the Public Authorities Act not apply to such a large space as the Tennis Club with a license term extending to the year 2048. These premises are not the small shops on Main Street where applying the Public Authorities Law makes no sense.

The Public Authorities Act does, in literal interpretation, apply to each space, including the Tennis Club. Extension of the existing license is deemed by RIOC to be not subject to the immediate application of the PAA. Any significant change (see the possible results of the study, as yet unknown) will require an RFP.

-->How many Roosevelt Island residents are members of the club, either adult or children? What is the discount rate for Roosevelt Island residents and for how long has that been in effect?

See attachments for report on community participation and programs.

Eventually, if an RFP is issued for the Sportspark facility and a bidder other than the current tennis club operator wins the RFP, under the terms of the proposed license modification, what exactly does that bidder have to pay the tennis club operator. I watched the webcast of the real estate committee meeting and am unclear in the event that another bidder wins the RFP what you meant by the winning bidder having to pay the tennis club for it's "going business value". Do you mean merely the value of the current tennis club or do you mean to include the potential value of a new "Chelsea Pier" type complex at the combined Sportspark/tennis facility. If you mean the potential value of the new facility that would put a competing bidder at a severe and unfair disadvantage in any bidding process.

Appraised value of the existing business.

...I was also surprised that none of these questions were raised during the RIOC Board's Real Estate subcommittee meeting. Is it that they either already knew the answers to these questions, do not think them relevant or some other reason that I am not aware of?

I have no comment on your surprise, but am unaware of any other reasons held by the members of the Committee.

Again, I thank Mr. Shane for participating in this dialogue which I believe is of benefit to the Roosevelt Island community.

However, my objection to this License modification for the Roosevelt Island Racquet Club remains. No further or additional rights should be bestowed upon the tennis club or obligations assumed by RIOC until other potential recreational, cultural, entertainment or public uses that would benefit the Roosevelt Island community are explored for this prime waterfront site. Unfortunately, the Roosevelt Island Board of Directors disagrees and chose to extend the license term another 15 years through the year 2046.

Roosevel Island Raquet Club Follow Up

A reader sent in this copy of the Memorandum in support of the Third Lease Modification for the Roosevelt Island Racquet Club that was approved during the October 18, 2007 RIOC Board of Directors meeting. The memorandum was written by RIOC President Shane to the RIOC Board's Real Estate Committee. To read the memo, click on that portion of the page you wish to read and it will open to a larger page. A letter in support of the proposal by a Roosevelt Island resident that was included in this package to the Real Estate Committee is posted here.

Here is a link to the webcast of the Board meeting. The first item on the agenda, approximately the first 2 hours of the meeting, deal with the Roosevelt Island Tram. The next item focuses on the proposed Tennis club license. Note that there is virtually no discussion of any of the questions posed in this earlier post nor were they answered in response to the original inquiry:

How does the license fee for the Roosevelt Island Racquet Club compare to other similarly situated clubs in New York City? Is it comparable in terms of fees and term? Is it even a relevant question?

Since the current license term extends through 2031 why does it have to be extended for an additional 15 years? The waiver of any potential liability for tram discontinuance does not seem reason enough to justify such an extension. After all there have been previous occasions when the tram was out of service and to my knowledge no such liability occurred. The willingness of the Tennis club owner to spend additional sums on a market study to determine the potential of a business opportunity for themselves hardly seems reason for RIOC to extend the license term either. Please explain what benefit does RIOC receive in exchange for the additional 15 year term?

Why does the Public Authorities Act not apply to such a large space as the Tennis Club with a license term extending to the year 2048. These premises are not the small shops on Main Street where applying the Public Authorities Law makes no sense.

-->
How many Roosevelt Island residents are members of the club, either adult or children? What is the discount rate for Roosevelt Island residents and for how long has that been in effect?

Eventually, if an RFP is issued for the Sportspark facility and a bidder other than the current tennis club operator wins the RFP, under the terms of the proposed license modification, what exactly does that bidder have to pay the tennis club operator. I watched the webcast of the real estate committee meeting and am unclear in the event that another bidder wins the RFP what you meant by the winning bidder having to pay the tennis club for it's "going business value". Do you mean merely the value of the current tennis club or do you mean to include the potential value of a new "Chelsea Pier" type complex at the combined Sportspark/tennis facility. If you mean the potential value of the new facility that would put a competing bidder at a severe and unfair disadvantage in any bidding process.
One member of the Board did ask Mr. Shane about this 1991 NY Times article which said of the Roosevelt Island Racquet Club:

lease payments to the state will be set at a minimum of $100,000 a year and should increase after five years to over $400,000; the club will then pay a percentage of its revenues to the state.

Mr. Shane questioned the accuracy of this report and did not elaborate any further. As this reader points out:

In '91 rent should be $100.000, five years later over $400.000, and 16 years later it should be more, much more, than over $250.000
Something is fishy...

Perhaps subsequent modifications reduced the license fee. We don't know, but questions should still be asked. No other critical, much less challenging, questions were asked by the Board members as to whether the tennis facility is the only recreational, cultural or public use facility possible for this location or whether they are indeed good neighbors to the Roosevelt Island community.

I continue to ask, Why increase the License term for an additional 15 year term without Roosevelt Island receiving anything in return? All the increased license term does is increase the value of the Tennis facility and makes it more expensive for any other potential user. How does that help RIOC or the Roosevelt Island residents? It certainly helps the tennis facility. What a shame!

Final Comments on Tennis Club Prior to RIOC Board Meeting

I am putting this last post on Tennis Club license agreement prior to today's RIOC Board meeting in the hope that some Board members will at least consider postponing voting on this issue if not outright rejecting it. The post consists of two reader comments and my response. I had hoped to include RIOC's response to questions that I sent them last week but they have not been received as of the time of this post.
A reader responds to those who are not satisfied with the tennis club's resident discount policy or lack thereof:

Roosevelt Island has got to be the only neighborhood in the city where residents expect discounts from businesses because they live nearby. Sheesh!

Another reader:

If my understanding is correct, Sport Park was build and should be used primarily for community and by community. For all these years RIOC was managing it by keeping it closed and unused most of the time. Even swim team was organized and run by volunteers if I have my facts straight. And now SP would be given to "tennis" people to add tennis courts? Is that what RI needs or this is what makes their pockets deeper? Are there any conditions being discussed by Board of Directors to protect existing programs and help them to grow and advance?
The reasons provided initially in the blog on why extension of Tennis club is proposed/required are just laughable. New buildings require more courts. Who are you kidding, really?

My response:

To be fair, the discounts discussed in regard to the Tennis courts were first raised by supporters of the tennis court expansion, as well as RIOC, in their attempt to justify what may be a tremendously below market license deal with the current tennis club operators.The complaints by Roosevelt Island residents regarding discounts were done in response to these apparently inflated claims.

Image is from Darwin's Game Closet.

Reader Comments on Roosevelt Island Racquet Club Proposed Expansion and Extension of License Agreement - Sounds Fishy Says One Reader

The second item on the Agenda for RIOC board of Directors meeting scheduled for Thursday October 18 at 4;30 PM is:

Authorization to Enter into the Third Modification Agreement with the Roosevelt Island Racquet Club Associates (Board Action Required)

Below are excerpts of some comments received in response to this post questioning the need and the advisability of RIOC entering into any further licensing obligations with the current occupants of the Roosevelt Island Raquet Club at this time.

Almost three years ago, we-parents, started a swimming club on the island. With a help of the Westview management, we were able to organize
Learn To Swim Program for children...
In the last Wire issue we read Mr. Shane's comment about possibility of giving Sportspark to the Racquet Club to expand their program for Manhattan residents (who are in a need for more tennis courts)... The news was so upsetting , because we saw the Sportspark facility as a RI. Marlins home. Even we used it only 4 times a week, we revived that pool with our presence, and now we feel endangered. As a parent , who went to the Racquet Club to ask about prices for the Junior Program, and was first shocked learning how much it would cost,and then informed that there are NO ANY DISCOUNTS for the RI children, I'm fearing that if they
take over Sportspark, swimming will be out of the reach for many RI kids and all the other programs will be purely designed for people with very deep pockets.

We just feel so powerless......we even don't know which door to knock on.

Another reader:

There is nothing free except early morning classes for the RI kids (past year was Sat/ Sun 6:00AM ??!!!). I wanted to sign up my child for the Junior program (afternoons-more appropriate hours). The price is outragiuos and THERE IS NO ANY DISCOUNT for the RI children. Simple as it is.

Also, if I remember correctly , the classes are offered only to IS/217 - Middle School students through the school list. About (5) offered courts .... I don't believe that this info is correct.

A third reader sends in this 1991 article from the NY Times:

Hoping to capitalize on a growing interest in tennis and improved transportation to Roosevelt Island, developers have broken ground for the Roosevelt Island Racquet Club, with 11 dome-covered courts and a 7,000-square-foot clubhouse. The club is scheduled to open in October on a two-acre site on the New York State-owned island directly under the Queensboro Bridge.
...Mr. Hartman said lease payments to the state will be set at a minimum of $100,000 a year and should increase after five years to over $400,000; the club will then pay a percentage of its revenues to the state. Membership fees have been set at $600 a year for individuals, plus a $500 initiation fee, and members will pay $40 an hour during prime time, or $30 for off peak hours, for use of the courts.

As this reader points out:

In '91 rent should be $100.000, five years later over $400.000, and 16 years later it should be more, much more, than over $250.000
Something is fishy...

I don't know if anything is "fishy" but I do think further investigation and inquiry is the least that the RIOC Board could do prior to voting on the license modification agreement for the Tennis club. As members of the RIOC Board they do have certain fiduciary obligations and responsibilities as well as adhering to the Public Authorities Act. Based upon the webcast of the RIOC Board's Real Estate committee meeting on this topic, the Board members present did not appear to ask any relevant questions regarding the advisability of expanding the Tennis Center, whether it is a good deal for Roosevelt Island and if there was potential for alternative recreational, cultural or other public uses. It certainly is a good deal for the Tennis Club. Watch the webcast or listen to it and decide for yourself.

Image is from supersubsonic.com

Roosevelt Island Tennis Club Follow-Up

The Webcast of the RIOC Board's Real Estate Committee meeting on the proposed License Modification for the Roosevelt Island Racquett Club is now available for viewing. Those interested in getting a small glimpse of how decisions are made concerning the future of Roosevelt Island will find the 30 minutes both fascinating and tedious.
A Roosevelt Island resident who supports the expansion of the Tennis Club sends in this letter of support which I have excerpted below. The full contents of the letter appear in the comments section.

The recreational needs, and more specifically the tennis needs of Roosevelt Island’s population, 12,000 and growing, is not adequately served by the small volume of courts at Octagon, (the number of which have remained unchanged since the Island’s population was 2000.)

The Racquet Club’s 530 members as well as 50 staff frequently arrive and depart (for hourly games) on our tramway and eat at or order from our restaurants. The Racquet Club provides free instruction and play to a vast amount of community residents. PS/IS 217 uses 5 courts for several hours, twice a week for its children. The NY Junior Tennis League (NYJTL) program runs on weekends from the first week of November to April. The Winter program provides continuity throughout the year to an enrollment of approximately 300 children. Adults enjoy a significant discount in their membership fees, the Racquet Club has provided free hours for Roosevelt Islanders since its inception, and much of the Racquet Club’s open programs are used by Roosevelt Island residents.

I question whether this is sufficient reason to expand the facility without first exploring additional alternatives. I sent the following message to RIOC President Shane seeking more information on the proposed expansion.

... Since you have advised that had I previously asked about the length of the tennis club's license term you would have informed me it extends through 2031, I would like to ask you the following questions regarding the Racquet Club's proposed lease modification in the interest of a fully and knowledgeable Roosevelt Island public and hope to get a similar response.

What is the approximate square footage of the premises?

I understand from the webcast of the Real Estate committee meeting that the current base license fee is $225 thousand with approximately an additional $60 - $70 thousand in % fee. Is that correct?

What is the new proposed license fee?

How does the license fee for the Roosevelt Island Racquet Club compare to other similarly situated clubs in New York City? Is it comparable in terms of fees and term? Is it even a relevant question?

Since the current license term extends through 2031 why does it have to be extended for an additional 15 years? The waiver of any potential liability for tram discontinuance does not seem reason enough to justify such an extension. After all there have been previous occasions when the tram was out of service and to my knowledge no such liability occurred. The willingness of the Tennis club owner to spend additional sums on a market study to determine the potential of a business opportunity for themselves hardly seems reason for RIOC to extend the license term either. Please explain what benefit does RIOC receive in exchange for the additional 15 year term?

Why does the Public Authorities Act not apply to such a large space as the Tennis Club with a license term extending to the year 2048. These premises are not the small shops on Main Street where applying the Public Authorities Law makes no sense.

-->
How many Roosevelt Island residents are members of the club, either adult or children? What is the discount rate for Roosevelt Island residents and for how long has that been in effect?

Eventually, if an RFP is issued for the Sportspark facility and a bidder other than the current tennis club operator wins the RFP, under the terms of the proposed license modification, what exactly does that bidder have to pay the tennis club operator. I watched the webcast of the real estate committee meeting and am unclear in the event that another bidder wins the RFP what you meant by the winning bidder having to pay the tennis club for it's "going business value". Do you mean merely the value of the current tennis club or do you mean to include the potential value of a new "Chelsea Pier" type complex at the combined Sportspark/tennis facility. If you mean the potential value of the new facility that would put a competing bidder at a severe and unfair disadvantage in any bidding process.

I would greatly appreciate it if you would provide answers to these questions so that I may present the issue clearly, correctly and fairly to readers of Roosevelt Islander.

I was also surprised that none of these questions were raised during the RIOC Board's Real Estate subcommittee meeting. Is it that they either already knew the answers to these questions, do not think them relevant or some other reason that I am not aware of? ...

Update on Roosevelt Island Tennis Club Inquiry

I just received this follow up message from RIOC President Shane in response to my message to him detailed in this post below.

Mr Shane:

The license is terminable under certain conditions for public purposes.
We cannot merely terminate at our whim. The investment made by the
licensee in developing the business is not to be ignored.
Contrary to your assumption, there is a high level of community
involvement, a report of which will be a part of the RE Committee
presentation this evening. I would also expect that the developing units
of Southtown will be a fertile source of membership for reasons of
proximity and demographics. But, while RIOC participates in the success
of the business by reason of the % clause in the License Agreement, RIOC
does not run the business.

Stephen H. Shane
President & CEO
Roosevelt Island Operating Corp.

More later.
Here is my reply to Mr. Shane:

I was not proposing terminating the license of the tennis club but only pointing out that a meeting in regard to the "Third Modification of the License Agreement between Roosevelt Island Operating Corporation and HCK Recreation, Inc." was scheduled for Thursday October 4. After all, this meeting of the Real Estate committee must be about certain rights and obligations under the license agreement between RIOC and the tennis club or why have it at all. I was merely suggesting that no further or additional rights be bestowed upon the tennis club or obligations assumed by RIOC until other potential recreational, cultural or entertainment uses were explored.
I would think that any such termination, certainly not on what you refer to as a "whim", would only be considered if there was a suitable alternative user providing a compelling public benefit.To my knowledge no such alternative is currently being proposed but that should not mean RIOC enters into an agreement which precludes any such future possibility.

I thank Mr. Shane for entering into this dialogue which, I believe, is of concern to Roosevelt Island residents.

RIOC Responds to Roosevelt Island Tennis Club Inquiry

RIOC President Steve Shane sends the following response to yesterday's post about the RIOC Board of Directors Real Estate Development Advisory subcommittee meeting today concerning the lease for the Roosevelt Island Racquet Club.

Mr Shane writes:

Your blog is misinformed. The present license arrangement extends until
April 30, 2031. Those arrangements were made in December, 1998.
HCK is the predecessor in interest of Roosevelt Island Racquet Club
Associates.
Why would you presuppose that the Board will act hastily?
Other uses than for public purposes(here recreation purposes) are not
on the table under the GDP, no matter how valuable a piece of property
this may be. RIOC and the community have already been down that road. If
the license were to be terminated other than for public purpose/park
like purposes, substantial "taking" compensation would be owed to the
operator to compensate for the very substantial investment made in the
present enterprise.
Island residents are entitled to a preferrential rate for utilization
of the courts.
Substantial income (more than $250,000 per year) is derived from this
source.
This License arrangement was executed first in 1989. While
theoretically a present disposition, as a terminable license, being
extended on a present facility, we take the position that it does not
require the Public Authorities disposition process. Similarly with the
existing stores on Main Street. Were any substantial modifications of
the use to take placeRFPs, appraisals, etc. would all be required.

Stephen H. Shane
President & CEO
Roosevelt Island Operating Corp.

My response:

Thanks for your response and the information provided. I am out of town and unable to post it today but will post your message in full tomorrow.

However, I do not think that this post or the "blog is misinformed". I did not make any factual statements other than the existence of the Real Estate committee meeting and my belief that HCK Recreation is the Roosevelt Island Racquet Club, which for purposes of the post, is clearly accurate since as you state they are the predecessor in interest to the current tennis club. Also, data provided here clearly indicate that HCK does business as Roosevelt Island Rackett Club.I do not think my use of the word "Racquet" rather than "Rackett" rises to the level of the blog being misinformed in this context though I admit it may fail the particularities of identifying the proper legal entity involved.

The use of the term "hastily" is not a matter of informed or uninformed but merely a hope that the board will at least consider other options and be fully informed themselves prior to making any decision. No disrespect was meant by the use of "hastily". Though I could be wrong, your message appears to suggest that other alternatives to the current tennis club occupants have not or cannot even be considered.

As to your point regarding termination of the license and a "substantial taking " compensation that would be owed in that event - I will leave it to the real estate lawyers to interpret the applicable law. I would question however, given today's commercial real estate market if $250,000 in annual revenue is indeed substantial or even market rate income.

Also, I seem to recall, but am not positive, being told by someone from a previous RIOC administration that the license was terminable under certain conditions. Is that now or was it ever true?

-->
The great think about blogs is that they are self correcting by their readers. I am happy to correct any error that I am responsible for.

Again, thank you for your openness and responses to these issues of concern to Roosevelt Islanders.
I would add that by doing some quick back of the envelope calculations, the Roosevelt Island Racquet Club must occupy (approximately) at least 10,000 sq. ft. If they are paying "more than $250,000 per year" for a license fee as Mr. Shane states, assume $300,000, (there may be some form of percentage fee as well) than they are paying approximately $25-30 per sq. ft. for their premises. That seems on the low end of the current commercial real estate spectrum. At the very least, exploring other potential alternatives seems to be a reasonable option and I fail to see what harm might occur if the RIOC Board takes a course of reasoned deliberation.
Also, as an aside, the "the preferential rate" provided to Roosevelt Islanders for use of the tennis courts is not such a great benefit to Island residents as to forego exploring the potential for other recreational, cultural or entertainment uses
Image is from the Tennis Channel.

RIOC Real Estate Committee Meeting on Roosevelt Island Tennis Racquet Club Lease

Prior to the Town Hall Meeting on the future of the Roosevelt Island Tram, a meeting of the RIOC Board of Directors Real Estate Development Advisory subcommittee is scheduled to begin at 6 PM. The lone agenda item is listed as the following:

NOTICE OF THE
OCTOBER 4, 2007 MEETING OF THE
REAL ESTATE DEVELOPMENT ADVISORY COMMITTEE OF THE
ROOSEVELT ISLAND OPERATING CORPORATION
BOARD OF DIRECTORS

PLEASE TAKE NOTICE that a meeting of the Real Estate Development Advisory Committee (“REDAC”) of the RIOC Board of Directors will be held on Thursday, October 4, 2007 at 6:00 p.m. at the the Good Shepherd Chapel, 543 Main Street, Roosevelt Island, New York. The REDAC will discuss the Third Modification of Lease between Roosevelt Island Operating Corporation and HCK Recreation, Inc.

The Open Meetings Law of the State of New York requires that all public bodies conduct meetings, convened for the purpose of officially conducting public business, in a manner open to attendance by the general public to observe and listen.

I believe that HCK Recreation, Inc. is the Roosevelt Island Racquet Club which has been located under the bubble adjacent to the Tram station and 59th Street Bridge since the early 1990's according to this article from the NY Times. Perhaps it is time for the RIOC Board to not act hastily but consider other potential uses for this site that may provide a different set of recreation, entertainment or cultural options for residents and visitors of Roosevelt Island. After all, how many Roosevelt Island residents actually use this facility. At the very least, given the East River waterfront location of this site and it's potentially large real estate value, I would think that the Public Authorities Act might preclude a long term commitment to this space without a thorough review.
Image is from the Bridge and Tunnel Club.