Item #:           ____6f Attach 2_______ 
Date of Meeting:   _November 5, 2013_____ 
Pier 34  Pacific Maritime
Institute Lease 
1727 Alaskan Way S
Seattle, Washington

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INSTITUTE
PAUHC MARITIME

Background 
PMI Tenant since 2004 
Complete maritime training classes 
Maritime simulation capabilities 
Standard & Custom programs 
Custom courses for local maritime industry 
Skill assessment programs 
Over 100 Courses

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Lease and Financial Terms 
10 years with one 5-year option to renew at
market rate 
Annual fixed rent increase at 2.5% 
Rent renegotiation at fair market rate year 6 
Maintenance & Utilities 
Port roof, structure and foundation 
Lessee for all other maintenance

Lease and Financial Terms 
Includes Access Agreement through Jack
Perry Park 
Tenant Broker Fee: $93,000 
Tenant Improvements: $85,000 
Net Present Value: $1.6 mil