9b Operating Division Preliminary CIP Presentation
Item No. 9b . Meeting Date: October 22, 2019 Maritime and Economic Development 2020-2024 Capital Improvement Plan (CIP) Sustaining the Working Waterfront October 22, 2019 1 Agenda Capital Improvement Plan (CIP) Development Schedule Review CIP Priorities and Project Status Key Assumptions Overview of 2020 to 2024 CIP Deeper dive on key projects Discuss new projects (not included in 2019-2023 CIP) Five Year Estimated Spend Discuss Next Steps Plan of Finance Appendix 2 2020 CIP Development Tax Levy & 2020 MD/EDD CIP Commission Draft Plan of First Reading 2 nd Reading 2020 CIP Preliminary Business Plan Development Budget Study Finance & Final Planning 2020 CIP & & Budget Commission Session & Public Commission Hearing for Passage of Prioritization Development Briefing 2020-2024 CIP Briefing 2020 Budget 2020 Budget Commission Briefing Briefing (Spring) (June) (June) (Aug 13) (Oct 22) (Nov 13) (Oct 8) (Nov 19) Year two of five year investment plan 3 Working Waterfront Principles 1. Maximize the use of the Port's deep-water facilities and industrial lands to serve Maritime Industrial uses 2. Expand economic, cultural and community benefits 3. Support financial sustainability of the Port 4. Incorporate leading edge environmental stewardship 5. Facilitate improved transportation mobility of people and goods in the region 6. Provide consistent excellent customer service 4 Capital Improvement Plan Priorities Asset Financial Community and Stewardship: Sustainability: Environment: Maintaining the Port's capital Investing in projects that support Stewarding our environment assets and modernizing maritime industries and the Port's responsibly, partnering with Seattle's working waterfront long term funding capacity surrounding communities, and promoting social responsibility 5 Key Assumptions Proposed CIP assumes continuation of five-year investment plan Year two of 3% annual levy increase Projects have been prioritized according to: Alignment with Century Agenda Contribution to Financial Sustainability, and/or Identification as Critical Renewal & Replacement Projects Funded CIP excludes $187M for prospective projects, of which $127M would be used for asset renewal and replacement Expanded capital capacity resulting from new project revenues coming online, maturing bonds, and reduction of strategic reserve Updated NWSA operating forecast not yet available Funding capacity and taxy levy briefing scheduled for October 22 6 Capital Improvement Plan Status & Certainty Degree of Uncertainty Port historically delivers 80 percent of CIP over a five year period 7 Major Project Updates and Highlights Updates from 2019-2023 key projects Advanced the status on 11 of the 12 major projects Some projects have longer schedules, but all on track in the 5 year horizon Terminal 91 Uplands: Design team selected by Q4 2019 T46 Cruise Terminal: Partner RFP submittals due October 16, with selection in Q1 2020, Full EIS to begin scoping this month Design of Port lead elements underway Waterfront Electrification: P66 electrification coming to Commission for design funds next month. Complete in 2022. 8 Maritime & Economic Development 2020-2024 CIP Maritime & Economic Development nt e d c l t ia e te Proposed 2020-2024 CIP Ass wardship m tus a ta t e Finan s tainability ommunity Environ S S u C Estim mpletion S & Co $milli ons Projects included in 2019-2023 CIP: Terminal 117 Restoration x 5 Q2 2021 $22.8 Bell Harbor Conference Center Modernization x 5 Q3 2020 $10.4 Environment Fishermen's Terminal Docks 3, 4 & 5 Fixed Pier Improvements x 5 Q2 2020 $2.5 15% New Cruise Facility (Assumes 50% Tenant Cost Share) x 4 Q2 2023 $98.9 Terminal 91 Uplands Development x 4 Q2 2023 $38.8 Asset Fishermen's Terminal Gateway Building x 4 Q3 2022 $21.8 Stewardship Fishermen's Terminal Maritime Innovation Center x 4 Q3 2022 $10.1 36% Salmon Bay Marina Docks D & E Replacement x 4 Q3 2023 $8.9 Pier 66 HVAC Systems Upgrade x 4 Q4 2021 $1.8 Terminal 91 Berth 6 & 8 Redevelopment x 3 2022 $35.0 Pier 66 Shorepower Waterfront Electrification x 3 2022 $16.9 Harbor Mooring Dolphins x 3 2022 $4.5 Financial Small Capital/Fleet/Projects Underway - - - $35.4 Sustainability MD/EDD CIP Reserve - - - $25.0 49% Total for Projects included in the 2019 - 2023 CIP $332.8 New Projects Proposed for 2020-2024 CIP: T102 Harbor Island Marina E Dock x 3 2021 $3.9 World Trade Center HVAC Replacement x 3 2021 $3.8 P66 Bell Harbor Marina Pile Wraps x 3 2024 $3.5 T46 Replace N Pier Structure x 2 2024 $64.4 T91 Northwest Fender x 2 2021 $6.6 T91 New Cruise Gangway x 2 2022 $4.5 Chart does not include CIP Reserve/Small Projects/Projects Jack Block Park Pier Replacement x 2 2021 $2.9 Underway or non MD/EDD Projects New or Previously Deferred Projects Under $2 million* - - - $18.1 Total New Projects Proposed for 2020-2024 CIP $107.5 Total Maritime/Economic Development CIP $440.3 Status: 1 = Prospective 2 = Pending Authorization 3 = Division Endorsed 4 = Design Authorized 5 = Construction Authorized *See slide in appendix for more information *Changes in status and estimated completion are bold 9 Changes to Estimates & Costs from 2019-2023 CIP Maritime & Economic Development Proposed 2020- Asset Financial Environme Nov 2018 Estimated Stewardshi Sustainabili nt & Status 2018 Status Nov 18 Cost 2024 CIP Completion Completion p ty Community $millions Projects included in 2019-2023 CIP: Terminal 117 Restoration x 4 5 Q2 2020 Q2 2021 $17.9 $22.8 Bell Harbor Conference Center Modernization x 4 5 Q3 2020 Q3 2020 $9.9 $10.4 1Includes electrification Fishermen's Terminal Docks 3, 4 & 5 Fixed Pier Improvements x 4 5 Q1 2021 Q2 2020 $6.1 $2.5 New Cruise Facility (Assumes 50% Tenant Cost Share)1 x 2 4 Q2 2022 Q2 2023 $100.0 $98.9 2Does not include electrification Terminal 91 Uplands Development x 3 4 Q3 2022 Q2 2023 $39.0 $38.8 Fishermen's Terminal Gateway Building x 4 4 Q3 2021 Q3 2022 $23.0 $21.8 3Includes both projects under Fishermen's Terminal Maritime Innovation Center x 3 4 Q3 2021 Q3 2022 $10.5 $10.1 $300K and projects near Salmon Bay Marina Docks D & E Replacement x 2 4 Q3 2020 Q3 2023 $5.9 $8.9 completion like Shilshole Bay Pier 66 HVAC Systems Upgrade x 2 4 Q4 2021 Q4 2021 $2.9 $1.8 Terminal 91 Berth 6 & 8 Redevelopment2 x 2 3 Q4 2021 2022 $35.0 $35.0 Marina Restrooms Pier 66 Shorepower Waterfront Electrification x 2 3 2022 2022 $30.0 $16.9 4Based on proposed CIP Reserve Harbor Mooring Dolphins x 2 3 Q3 2020 2022 $3.6 $4.5 Small Capital/Fleet/Projects Underway3 - - - $24.7 $35.4 Policy MD/EDD CIP Reserve4 - - - $40.0 $25.0 Total for Projects included in the 2019 - 2023 CIP $348.5 $332.8 New Projects Proposed for 2020-2024 CIP: T102 HIM E Dock x 3 3 2021 - $3.9 WTC HVAC Replacement x 2 3 2021 - $3.8 P66 BHM Pile Wraps x 3 3 2024 - $3.5 T46 Replace N Pier Structure x 1 2 2024 - $64.4 T91 Northwest Fender x 2 2021 - $6.6 T91 New Cruise Gangway x 2 2 2022 - $4.5 JBP Pier Replacement x 1 2 2021 - $2.9 New or Previously Deferred Projects Under $2 million* - - - $18.1 Total New Projects Proposed for 2020-2024 CIP $107.5 Total Maritime/Economic Development CIP $440.3 Status: 1 = Prospective 2 = Pending Authorization 3 = Division Endorsed 4 = Design Authorized 5 = Construction Authorized *See slide in appendix for more information 10 Project Additions to 2020-2024 CIP 2020-2024 Life/Safety Project Cost Category Related Status Capital Project ($ in millions) Estimate T46 Replace N Pier Structure $64.4 No Asset Stewardship 2 T91 Northwest Fender $6.6 No Asset Stewardship 2 T91 New Cruise Gangway $4.5 No Financial Sustainability 2 T102 Harbor Island Marina E Dock $3.9 Yes Asset Stewardship 3 World Trade Center HVAC Replacement $3.8 No Asset Stewardship 3 P66 Bell Harbor Marina Pile Wraps $3.5 No Asset Stewardship 3 Jack Block Park Pier Replacement $2.9 Yes Asset Stewardship 2 *Only Projects >$2M shown totaling $89.6M. For full list of projects, see appendix Status: 1 = Prospective 2 = Pending Authorization 3 = Division Endorsed 4 = Design Authorized 5 = Construction Authorized 11 Location of T46 North Pier Structure North Pier of T46 on wood pilings is approximately 700ft by 100 feet 12 Five-Year Spend by Current Project Status $s in millions $200 $175.5 $180 $160 $140 $120 $109.6 $100 $80 $58.4 $58.5 $60 $38.3 $40 $20 $0 2020 2021 2022 2023 2024 2 - Pending Authorization 3 - Division Endorsed 4 - Design Authorized 4 - Design Authorized (Cruise Terminal) 5 - Construction Authorized 13 Cash Flow Adjusted Five-Year Spend Maritime and Economic Development CIP Cash Flows ($ mil.) 200 158 150 100 92 82 58 50 50 0 2020 2021 2022 2023 2024 (50) Maritime and Economic Development CIP CIP Reserve CIP Cash Flow Adjustment Estimated Adjusted Cash Flow 14 Capital Delivery Improvement Initiative Examine all factors impacting Capital Delivery and Develop Road Map / Recommendations for improvements. Establish: o Senior Advisory Group: Internal/External membership (ERP) o Executive Steering Group: Internal Cross Port membership o Subject Matter Working Groups o Implementation Teams Work Areas: Contracting, Human Resources, Innovation, Sustainability, Delegation, Grants, Permitting, Safety, Coordination/Deconfliction, Estimation, Cost Control, Oversight, Portfolio Management. Organize and Charter Workplan in 4th Quarter. 15 Summary Recommendation: Continue implementing 5 Year Investment Plan initiated in 2019. A $440M CIP with focus in: o Financial Sustainability 49% o Asset Stewardship 36% o Environment 15% Capital Plan takes into account: o Increased revenues o Prudent Financial Management o Retiring debt 16 Appendix 17 Maritime & Economic Development 2020-2024 CIP Maritime & Economic Development e nt e l t wardship c ia tainability m ommunity a ted tus 2 0 2 1 2 2 2 3 2 4 Proposed 2020-2024 CIP Ass S ta 20 20 20 20 20 S t e Finan u s Environ C Estim mpletion S & Co $m illions Projects included in 2019-2023 CIP: Terminal 117 Restoration x 5 Q2 2021 $11.4 $10.6 $0.3 $0.3 $0.3 $22.8 Bell Harbor Conference Center Modernization x 5 Q3 2020 $10.4 $0.0 $10.4 Fishermen's Terminal Docks 3, 4 & 5 Fixed Pier Improvements x 5 Q2 2020 $2.5 $2.5 New Cruise Facility (Assumes 50% Tenant Cost Share) x 4 Q2 2023 $2.8 $20.0 $72.0 $4.1 $98.9 Terminal 91 Uplands Development x 4 Q2 2023 $0.8 $4.8 $14.0 $14.0 $5.3 $38.8 Fishermen's Terminal Gateway Building x 4 Q3 2022 $1.0 $10.0 $10.0 $0.8 $21.8 Fishermen's Terminal Maritime Innovation Center x 4 Q3 2022 $0.7 $5.0 $4.0 $0.5 $10.1 Salmon Bay Marina Docks D & E Replacement x 4 Q3 2023 $0.1 $1.0 $4.0 $3.8 $8.9 Pier 66 HVAC Systems Upgrade x 4 Q4 2021 $0.8 $1.0 $0.0 $1.8 Terminal 91 Berth 6 & 8 Redevelopment x 3 2022 $0.4 $10.0 $24.6 $35.0 Pier 66 Shorepower Waterfront Electrification x 3 2022 $0.7 $13.2 $3.0 $16.9 Harbor Mooring Dolphins x 3 2022 $0.1 $2.6 $1.8 $4.5 Small Capital/Fleet/Projects Underway - - - $17.5 $5.6 $4.7 $4.2 $3.4 $35.4 MD/EDD CIP Reserve - - - $3.0 $3.0 $5.5 $5.5 $8.0 $25.0 Total for Projects included in the 2019 - 2023 CIP $52.1 $86.8 $143.9 $33.2 $17.0 $332.8 New Projects Proposed for 2020-2024 CIP: T102 Harbor Island Marina E Dock x 3 2021 $0.1 $3.6 $0.3 $3.9 World Trade Center HVAC Replacement x 3 2021 $0.7 $3.1 $3.8 P66 Bell Harbor Marina Pile Wraps x 3 2024 $0.2 $0.7 $2.6 $0.0 $3.5 T46 Replace N Pier Structure x 2 2024 $0.0 $3.6 $22.0 $25.0 $13.8 $64.4 T91 Northwest Fender x 2 2021 $3.6 $3.0 $6.6 T91 New Cruise Gangway x 2 2022 $0.0 $0.5 $4.0 $0.0 $4.5 Jack Block Park Pier Replacement x 2 2021 $0.3 $2.6 $2.9 New or Previously Deferred Projects Under $2 million* - - - $1.4 $5.9 $2.8 $0.3 $7.6 $18.1 Total New Projects Proposed for 2020-2024 CIP $6.3 $22.9 $31.6 $25.4 $21.3 $107.5 Total Maritime/Economic Development CIP $58.4 $109.6 $175.5 $58.5 $38.3 $440.3 Status: 1 = Prospective 2 = Pending Authorization 3 = Division Endorsed 4 = Design Authorized 5 = Construction Authorized *See slide in appendix for more information *Changes in status and estimated completion are bold 18 New or Previously Deferred Projects under $2M Project Name Status Total Fishermen's Terminal C3 Building Roof Replace 2 686 Maritime Video Camera Project 2 1,800 Salmon Bay Marina Uplands Building 4 1,500 Shilshole Bay Marina Boat Wash 3 954 Project costs in $000s Shilshole Bay Marina Dock X Pier Replacement 2 1,670 Shilshole Bay Marina Fuel Float Rehabilitation 2 470 Only 2020 to 2024 project spending shown Terminal 106 Mooring Dolphins 2 100 Pier 91 West Slope Stabilization 3 1,000 Some projects have spending before or Repurpose Pier 69 datacenter space 2 70 beyond five-year period World Trade Center West Roof Replacement 2 690 Pier 66 Roof Upgrades 2 687 Pier 66 Anthony's Mechanical Roof Renewal 2 700 Does not include Small Capital Projects (projects < $300K in total cost) Central Waterfront Bridge Elevator Modernizations 3 1,450 World Trade Center Garage Elevator Mods 2 1,930 Pier 69 Clerestory and Skylight Replacement 2 800 Salmon Bay Fire Suppression 3 687 Terminal 91 Pier Stormwater Improvement Phase I 3 1,050 Pier 66 Fender Overhaul 2 1,729 Terminal 10 Mooring Dolphins 2 100 Total 18,073 19 Prospective Projects not currently funded in the CIP Maritime Prospective Projects $millions Economic Development Prospective Projects $millions Fishermen's Terminal NW Dock West Improvements $41.8 Strategic Land Acquisition $30.0 New Marine Maintenance Shop $15.5 Pier 69 HVAC Components Replace $7.6 Waterfront Electrification $13.0 Pier 69 Concrete Dock Rehabilitation $7.5 Terminal 91 Pier Stormwater Improvement Phase II $10.0 Pier 69 Restrooms Remodel $2.4 Salmon Bay Marina Roof Replacements $9.0 Pier 69 Front Windows & Doors Replacement $2.0 Shilshole Bay Marina Dry Boat Moorage $8.0 Pier 69 Underdock Utility Replacement $1.7 Fishermen's Terminal C15 Building Roof Replacement $5.5 Pier 69 Elevator Control Modernization $1.0 Pier 91 Slope Stabilization $5.0 Pier 34 Roof Replacement $0.8 Pier 66 Apron Cathodic Protect $5.0 Pier 69 South Breezeway Metal Roof Replacement $0.5 Pier 66 BHM Wavebreak Protect $4.7 Pier 69 Commission Chambers AV System $0.4 Terminal 91 Dredge Berth M $4.0 Economic Development Prospective Projects $53.9 Terminal 91 Widen West Berth Access $3.0 Shilshole Bay Marina G Dock Rehabilitation $2.7 Shilshole Bay Marina Esplanade Upgrades $1.7 Shilshole Bay Marina W Dock Small Boat Floats $1.4 Total of $187M proposed projects not Fishermen's Terminal I-8 Building Roof Replacement $1.0 Shilshole Bay Marina Comporter Pier Rehabilitation $0.9 currently funded in CIP Fishermen's Terminal C15 Building Improvements $0.9 Total Maritime Prospective Projects $133.0 20
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