7b supp
Item No.: 7b_Supp Meeting Date: August 5, 2014 2015 Real Estate Business Plan August 5, 2014 Outline Industry/business context Summary of Real Estate strategies Major and new initiatives Major ongoing New Policy issues/challenges Business/Industry Context Recovery from the Great Recession Expansion phase of the cycle New construction starts Rent growth pending new deliveries Shorelines Master Plan Update Establishment of the stadium/entertainment district Comp plan amendment in Interbay Summary of Real Estate Strategies Manage our finances responsibly Increase Real Estate Division's Net Operating Income Maintaining occupancy levels and rental rates at or favorable to the broader market Increasing property utilization by offering and executing long term ground leases for land redevelopment Acquiring or disposing of assets as circumstances warrant Major and New Initiatives Implement projects from Fishermen's Terminal 25 Year Plan Increase utilization of Terminal 91 uplands acreage Des Moines Creek Business Park build out Ongoing Evaluation of properties/facilities and recommend long-term strategies Major and New Initiatives (continued) Implement Key Capital and Expense Projects: Shilshole Bay Marina Design of Customer Service Buildings (restrooms, showers, laundry, storage) Design of paving improvements Fuel Float Building (1962) Bell Harbor Marina Pile Wraps and Wavebreak Panels Pier 69 Complete Beam Rehabilitation Policy Issues/Challenges Bond maturities Infrastructure projects Land use protections Capital requirementsleasing and repairs Labor aspects of 3rd party ground lease development
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