4f supp
Item No.: 4f_supp Meeting Date: November 25, 2014 Term Lease for Yard Area ConGlobal Industries, LLC Terminals 106 and 108 CGI Leased Area Terminals 106 and 108 Alternatives Review ConGlobal T106/T108 Analysis Alternative 1 Alternative 1 Alternative 3 NPV ($'s in Millions) Port Builds SW Port Builds SW Tenant Builds SW Tenant Remains Tenant Vacates Proposed Lease 12 ~ 21 year Analysis ~21 year Analysis year Analysis Period for NPV Period for NPV Period for NPV** Discount Rate 10.0% 10.0% 7.0% Rents $18.1 $16.0 $11.5 Rent Rate - $/sf/mo $0.177 $0.177 $0.110 Contingency - Broker Fee, Mktg Exp, etc $0.0 $0.4 $0.0 Stormwater Facility - Cost to Port $7.4 $7.4 $0.0 Residual Value $0.0 $0.0 $0.4 Net Cash Flow to the Port $10.8 $8.2 $11.9 Payback Period - years 4 6 NA Note**: Does not include any rents past end date of proposed lease. If lease was renewed for an additional 9 years, to match term of Alternative 1 scenarios, NPV would increase to $15.6 MM.
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