PORT OF SEATTLE 
MEMORANDUM 
COMMISSION AGENDA               Item No.      4e 
ACTION ITEM 
Date of Meeting    November 11, 2014 
DATE:    October 23, 2014 
TO:      Ted J. Fick, Chief Executive Officer 
FROM:    Melinda Miller, Director, Portfolio and Asset Management 
SUBJECT:  Authorization to execute a termination of agreement and release with the City of
Seattle of a Bell Harbor Marina Memorandum of Understanding originated
November 21, 1994. 
Net Proceeds to the Port:  $2,000,000.00 payable in two equal installments: 
January 1, 2015 and January 1, 2016 
ACTION REQUESTED 
Request Commission authorization for the Chief Executive Officer to execute a Termination of
Agreement and Release with the City of Seattle of a Memorandum of Understanding regarding
Bell Harbor Marina originating on November 21, 1994. 
SYNOPSIS 
Commission authorization is requested to proceed with a Termination of Agreement and Release
by the Port of Seattle and the City of Seattle of a Memorandum of Understanding signed by both
parties on November 21, 1994. Under the terms of the Termination of Agreement and Release,
the City would pay the Port $2,000,000.00 in two equal installments beginning January 1, 2015
and concluding on January 1, 2016. Upon payment of the second installment, the City is released
from the agreement and the Port assumes responsibility for future operations and maintenance of
Bell Harbor Marina. 
BACKGROUND 
On November 21, 1994, the City and the Port executed a Memorandum of Understanding
concerning the development and operation of a public moorage facility now known as the Bell
Harbor Marina at Pier 66. By agreement, the state Department of Natural Resources contributed
$1.6 million and the City paid $1.7 million toward construction of the marina. The total project
cost was $7,850,000.00. The agreement provides that the Port would operate and maintain the
Marina and that the City and Port will share in the cost of major maintenance for the facility 
following opening of the marina in 1996. 
The MOU provided that the City would pay 30 percent of major maintenance costs if operating
revenues from the marina were not adequate to fund those maintenance costs, provided that the
City's contribution would not exceed a total of: 

Template revised May 30, 2013.

COMMISSION AGENDA 
Ted J. Fick, Chief Executive Officer 
October 23, 2014 
Page 2 of 2 
$300,000.00 during the first ten-years (1996  2006) 
$525,000.00 the second ten-year period (2006  2016) 
$1.5 million maximum the subsequent five years (2016  2021) 
Under this provision, the maximum amount of the City's contribution for major maintenance
costs through 2021 is estimated at $2,438,241.00 
The agreement contained no termination date but does provide for re-evaluation of the parties'
financial contribution prior to the 25th anniversary of the commencement of Marina operations. 
Since 2010, the City and Port have engaged in discussions concerning the Marina's operations
and current and future capital maintenance needs and have determined that it is in their mutual
best interests to terminate the Agreement and for the Port to assume responsibility for future
operations and maintenance. 
ALTERNATIVES AND IMPLICATIONS CONSIDERED 
Alternative 1)  Do nothing and leave the current MOU in place. Send notice of major
maintenance projects to begin in 2016 through 2021.This is not the recommended alternative. 
Alternative 3)  Proceed with the authorization to execute a Termination of Agreement and
Release with the City of Seattle for the agreed upon amount of $2,000,000.00. This is the
recommended alternative. 
ATTACHMENTS TO THIS REQUEST 
Termination of Agreement and Release 
Original MOU between the Port of Seattle and City of Seattle 
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS 
N/A