Item 9d Supp

Port of Seattle
Real Estate Division 2010 Business Plan
August 11, 2009

Real Estate Division Structure
Real Estate Development and Planning
Portfolio Management and Leasing
Harbor Services
P69 Facilities Management
Marine Maintenance

Real Estate Division Full Year
Forecast
In $ Thousands         2008    2009    2009    2009 Bud Var
Actual  Forecast  Budget    $ %
Operating Revenue          34,875   30,381   30,961    (580)   -2%
Environmental Grants             1     150     150      0    0%
Total Revenue              34,877   30,531   31,111    (580)   -2%
Direct Expenses             36,375   30,599   31,821    1,222    4%
Environmental Reserve          604    1,125    1,125      0    0%
Allocations                  1,840    1,732    2,445     713    29%
Total Expense              38,819   33,456   35,391    1,934    5%
Net Operating Income (NOI)    (3,943)   (2,925)   (4,279)   1,354   32%
NOI Excl Envir Grants/Reserve  (3,340)   (1,950)   (3,304)   1,354   41%

2010 Preliminary Capital Budget
Committed & Business Plan Prospective

$'s in 000's                   2010
Renewal/Enhancement        16,151
Revenue/Capacity Growth       2,920
Environmental/Safety           2,675
Total                   21,746

Real Estate Development and Planning
Master planning and land development:
North Bay
Planned Action Ordinance
Draft and issue developer RFP
Select developer
Des Moines Creek
Segment retail
Street vacation
Plat vacation
Draft and issue developer RFP
Select developer

Real Estate Development and Planning
SCORE
SeaTacDoug Fox site
BurienLora Lake Apartments/NERA
Tyee Golf Course

Portfolio Management and Leasing
Property management
Achieve net operating income and occupancy targets
Fishermen's TerminalShip supply building/condition
assessment.
Lease & utilities administration
SAO audit
Utilities audit

Portfolio Management and Leasing

WBE/MBE target: 10%
Commission Smith Cove Cruise Terminal event space
Strategic Asset Assessment and Planning
CEM
Tsubota
MIC
FT
Real estate policy review and recommendations

Harbor Services
Financial performance:
Achieve net operating income target
Weighted average occupancy
Slip moorage:      90%
Lineal moorage:     85%
Fishermen's Terminal:
Complete a condition assessment of all landside and remaining
waterside assets
Commence planning 20 year asset plan
Maritime Industrial Center:
Commence seawall replacement project

Harbor Services
WBE/MBE target: 15%
Maintain Clean Marina Washington/EnviroStar
Certification

P69 Facilities Management

Maintain focus on energy conservationensure flat
utility consumption over 2009
WBE/MBE target: 10%
Perform space planning forecast for 2011
Continue improvement of emergency operations &
business continuity program
Conduct three communication drills and one tabletop
exercise

Marine Maintenance
WBE/MBE target: 15%
Manage expense budgets within 2%
Reduce landfill waste by 10%
Stormwater compliance
Parks and public access22 sites, 63 acres
Deferred maintenance

Critical Questions
To become self sustaining:
Establish rental rates at market
Address deferred maintenance and return assets to
service
Commit to pre-development to return vacant land to
service
Disposition
Sale of existing assets
Privatization of recreational marinas

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