Tom Lochtefeld, owner of the Wave House Athletic Club, Sound Wave and the master lease holder who operates the Plunge at Belmont Park, has found himself in a leasing stalemate with the city — and neither side seems to have a solution to reopen the historic swimming pool built in 1925. The Plunge has been closed since May 26 and there are no indications the pool will reopen anytime soon. “The city provided me with official notice that they are requesting that the bankruptcy court terminate the extension of stay [that would allow the Plunge to continue operating under previous leasing terms],” Lochtefeld said. “The city is no longer willing to negotiate.” Lochtefeld, who had been paying $70,000 annually since signing his lease agreement with the city in 2002, has apparently run out of rent credits and is now subject to new terms of $480,000 annually. Lochtefeld filed for Chapter 11 bankruptcy in November to force a renegotiation with the city. On the flip side, city officials have said Lochtefeld signed the 2002 lease with an understanding of the higher lease rate later, and maintain he is now trying to change the terms after the fact. The reality, Lochtefeld said, is that his only options are to either accept the new terms of the higher lease or to reject them. If he accepts, Lochtefeld will also have to pay nearly $500,000 is back rent, which began accumulating in June 2010. On July 1, the bankruptcy case and leasing feud will go to court to determine whether the bank will take over the lease. “I will not accept the lease,” Lochtefeld said. Ahead of that court date, Lochtefeld is set to appear today, June 9, before the judge, who will seek an update on negotiations between the city and Lochtefeld. “The logic was to negotiate,” Lochtefeld said. “The city refuses to negotiate.” District 2 City Councilman Kevin Faulconer, whose district covers Pacific Beach and Mission Beach, was unavailable for comment, according to staffers. “There’s not a lot [Faulconer] can publically do and say because this matter is in bankruptcy court,” said Tony Manolatos, Faulconer’s deputy chief of staff. Faulconer wants to make sure the Plunge is able to remain open, but also wants to make sure that the community is fairly represented, Manolatos said. “Kevin’s priority is obviously to make sure that the city taxpayers are being protected,” Manolatos said. The “fifth operating memorandum” is the document at the center of the leasing stalemate. It was adopted on June 26, 2000. According to the document, after the rent credits from previous enhancements to the Plunge and Belmont Park ran out, Lochtefeld could accrue further rent credits if he were to make improvements to the structure and adding parking, Lochtefeld said. Byron Wear was the District 2 City Councilman from 1995-2002 at the time the document was adopted. He recalls the revitalization that took place at Belmont Park with the introduction of the Wave House owned by Lochtefeld — where Cane’s Bar and Grill operated previously. It attracted a new athletic crowd to the area, Byron said. Lochtefeld said he was under the impression that if he came up with an economically viable plan to maintain and improve Belmont Park, he would continue to receive future rent credits, even after the initial rent credits expired in 2010. In 2006, he introduced to the city a plan to build a hotel, additional parking and attractions to increase revenues. But Lochtefeld said his plan was denied by the city in 2008, which meant that if no improvements were made, there would be no future rent credits. “They led me down the primrose path,” Lochtefeld said. Wear agreed. “You don’t just turn down a plan,” Wear said. “You try to counter with something that would be win-win for everybody.” Meanwhile, regular Plunge swimmers and fitness enthusiasts do not have a place to exercise. Many are apparently seeking out other pools throughout the city or are waiting to see what happens in the short term with the Plunge. “There’s a number of health organizations which use this pool, too,” Lochtefeld said. Patrons associated with the Multiple Sclerosis Society and the Arthritis Foundation are each having to find warm water elsewhere or are forced to no longer participate in water therapies. “We’ve lost over a third of the income,” Lochtefeld said. Don Watkinds, a Pacific Beach resident since 1995, is the Wave House San Diego swim team coach. The team practiced at the Plunge five days a week. “We are going to try, one way or another, to keep it going,” Watkinds said. He and his team are hoping for a short-term solution so they can get back to the Plunge for practices. The team has been swimming at public pools since the closure took place. The perks of the Plunge are that the children are protected from inclement weather; the older swimmers can use the gym upstairs and it offers easy access for children with disabilities. “Three from our team made the Paralympic Games in Beijing,” Watkinds said. The team swims all over the world, except Antarctica, Watkinds said. Bryce Berggren and his wife both live in Pacific Beach and have played water polo for many years at the Plunge. “We would like to see the pool reopen,” Berggren said. The athletic pastime is one that he and his wife were able to participate in together on Tuesday nights at the Plunge. “If the city will live up to the terms of the deal that was struck, then I’d be glad to live up to my end,” Lochtefeld said.