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Item #: ____6f Attach 2_______ Date of Meeting: _November 5, 2013_____ Pier 34 Pacific Maritime Institute Lease 1727 Alaskan Way S Seattle, Washington 1 '4 'I; 1 ,1"! 1 I. in Mr 1 I. -.\U' I a {Manhms 't ' r..." 1' ..II a .-. $3.61.: an. dam- 'IJYHI'T "r: . Igam Slo'e .;. Duwamlsh Waterwa " ..Is'n15.1T9- y.-. *w ; , 11108o2m5. u'\. m x. , - "I 5 im33.<.o -1 m ., . ul I ....1m.1 nl . I -1 ' "Mfwwuu. I'll I . l .. l .u I .1 v. . ..1\43.3.(''d~1.11 '3 In lam..." .211. . 2!. .|-.l1- .a [mimiur . Ednt 1r. 1. _1_g ": Map Maker Report 3 phobia-n. Q" lntemetl Protected Mode: On Aerial View 4 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 .'l ' "j"; 'I( " Paelfic {' Marixime Institute t;'-U:u _. , -.' --' - , Harman ' 71",. u now A - i' l J 1- ":'.L'.'i- 0/ "I!" 1 but. 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
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