11a. Presentation
02 2023 Maritime EDD Operating CIP Budgets
Item No. __11a_supp 2_____ Date of Meeting: October 11, 2022__ Maritime and Economic Development Draft 2023-27 Capital Improvement Plan (CIP) October 11, 2022 1 Continued Priorities Going Forward • Responding to cost increases and capacity issues • Inflation and staff shortages • Revised cost estimates and schedules • Improving Capital Project Delivery • Identify and implement system improvements • Preparation for several major projects to move into Construction • Expand Sustainable Evaluation Framework implementation 2 CIP Timeline 2023-2027 CIP Preliminary Continue to Refine MD/EDD Budget 2023 Tax Levy & Approval of Planning and MD/EDD CIP, Funding Briefings Draft Plan of Development 2023 Budget 2023-2027 CIP & Capacity and Finance Presented Funding Briefing Operating Budget to Commission May/June August 2nd August/Sept. October 11 October 25 November 29 3 Capital Improvement Plan Priorities 6% Financial Sustainability: Making investments that support 26% maritime industries and the Port’s long term funding capacity 49% Asset Stewardship: Maintaining the Port’s capital assets and preserving Seattle’s iconic working waterfront Community & Environment: 19% Stewarding our environment and social responsibilities *All projects incorporate Community & Environment priorities when possible Reserves Nearly half of the CIP is dedicated to preservation of existing assets 4 Capital Improvement Plan Status & Certainty Degree of Uncertainty A few key large projects are approach ing construction authorization 5 Draft 2023 to 2027 CIP: $522M Forecasted 5-Year Spend 200,000 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 2023 2024 2025 2026 2027 Large Mid-Cap Small Fleet/Technology Tenant Improvements Reserves 6 5-Year Capital Spend by Business Group Maintenance Facilities Rec Boating Environmental Cruise Portfolio Management Fishing & Commercial $0 $20 $40 $60 $80 $100 $120 $140 $160 $180 $ in millions 7 Draft 2023 to 2027 CIP: $522M $ millions Total Project Cost Project Group/Name⁴ Status 2023 2024 2025 2026 2027 5Y Total Current Previous¹ Change T91 Uplands Development Phase I 4 In Design 1.7 14.0 48.0 13.0 - 76.7 79.1 51.4 27.7 s t T91 Uplands Utility Infrastructure 2 Pre-design - 0.5 6.0 7.5 - 14.0 14.0 10.1 3.9 j e c o r P T91 Berth 6 & 8 Redevelopment 4 In Design 0.7 30.7 36.0 0.5 - 67.9 70.1 66.8 3.4 FT NW Dock West Improvements 2 Pre-design 0.3 2.2 12.0 18.0 18.0 50.5 64.5 64.5 - r e a g P66 Shore Power 4 In Design 15.4 12.2 - - - 27.6 32.5 30.1 2.4 L FT Maritime Innovation Center 4 In Design 3.3 16.8 2.3 - - 22.3 25.1 25.1 - Pier 90/91 Dock Rehab 2 Pre-design 0.3 0.8 10.1 10.0 - 21.2 21.2 21.2 - Mid-Cap 26.0 52.2 31.5 13.2 6.5 129.4 Small 4.5 3.0 1.0 1.0 1.0 10.5 Fleet/Technology 5.3 2.3 2.0 1.6 1.0 12.2 Tenant Improvements 0.8 0.6 0.6 0.6 0.6 3.0 Management Reserve 4.0 4.0 5.0 8.0 11.0 32.0 Reserves EDD Strategic Opportunity Fund - 12.5 12.5 - - 25.0 MCAAP/Waterfront Clean Energy Strategy² 0.3 1.8 6.2 9.7 2.0 20.0 Sustainable Evaluation Framework Reserve² - 2.0 2.0 2.0 2.0 8.0 Waterfront Art Pool³ 0.1 0.7 0.4 0.1 0.5 1.9 Total $62.8 $156.1 $175.6 $85.1 $42.6 $522.3 ¹Total estimated project cost as of August Commission Retreat ²Does not represent total spend on Maritime Clean Air Action Plan, Waterfront Clean Energy Strategy, and/or Sustainable Evaluation Framework. Reserves capacity to incorporate initiatives in future project costs. ³Does not represent total art spending. Only shows amount not yet assigned to a specific project. ⁴Project Categories: Large >$10M, Mid $1M to $10M, Small <$1M Table does not include CIP Cash Flow Adjustment 8 Updates on Major Projects in Design 9 At 90% Design T91 Berths 6 & 8 Redevelopment Scope: • Berth Reconstruction –Removal of existing creosote piles from water column –Overall reduction of overwater coverage –Slope rehabilitation & stabilization –Concrete pile supported replacement pier –Boathouse and float reconfiguration –Upgraded Electrical Power Supply/ Distribution • Uplands Improvements –Replacement of support office buildings (Port & Tenant) –Stormwater upgrades Estimated Cost: $66 million Schedule: Q1 2023: Design Complete Q2 2023: Permits Issued, Advertise Q4 2023: Construction Begin Q2 2025: Construction Complete 10 At 15% Design Terminal 91 Uplands Development Scope: Phase I: Design and documentation will be developed for a Major Phased Development (MPD) permit and to full building permit/construction documents to be executed through construction of approximately 120,000 square feet (SF) of industrial building space with minimal facility infrastructure improvements over approximately six (6) acres of the site. Estimated Cost: $77 million for Phase I Building $14 million for utility infrastructure Schedule for Phase I: Q3 2023: Design Complete Q3 2024: Construction Begin Q4 2025: Construction Complete 11 At 90% Design Maritime Innovation Center Scope: restoration and modernization of the Port’s historic Ship Supply Building into a Living Building Challenge-certified facility with advanced sustainability and resiliency features. The project will create 15,000 square feet of space offering an incubator and accelerator environment in support of maritime innovation. A related project will provide site improvements designed to enhance the experience of users and visitors of the Fishermen’s Terminal facility. Estimated Cost: $25 million Schedule: Q3 2023: Design Complete Q3 2023: Permits Issued, Advertise Q2 2024: Construction Begin Q3 2025: Construction Complete 12 At 90% Design P66 Shore Power Scope: Provide shore power connection for cruise ships while at berth at Pier 66’s Bell Street Pier Cruise Terminal. Power to be provided across Terminal 46 via duct bank and then submarine cable in Elliott bay between terminals. Electrical equipment installed at the south end of Pier 66 will distribute the power to the cruise ship connection. Estimated Cost: $32.5 million Schedule: Q4 2022: Long lead cable and equipment purchases Q1 2023: Design Completion Q2 2023: Major Works Contract Advertised Q3 2023: Construction Begins 13 New Large Projects Moving Forward • CEM/T5 Access: $10M (revised estimate underway) – Construction of new road over railroad tracks for heavy freight to access CEM and avoid Harbor Ave. • Pier 90/91 Rehabilitation: $21M – Pile cap and deck panel refurbishment • Centennial Park Shoreline Stabilization: $8M – Address eroding shoreline and impacts to pedestrian path 14 Top Mid-Cap Projects • T91 New Cruise Gangways: $8.7M • FT Site Improvements: $3.5M • P66 Fender Upgrade: $7.7M • P69 Underdock Utilities: $3.4M • P69 Concrete Dock Rehab: $7.8M • MD Video Cameras: $3.2M • Harbor Mooring Dolphins: $7.5M • SBM G Dock Rehab: $3M • P66 Retail HVAC Upgrade: $6.9M • Waterfront LED Lighting: $3M • MIC Electrical Replacement: $6.4M • P69 Clearstory/Skylights: $3M • T102 E Dock: $4.7M • BHM Pile Wrap & Protection: $3.4M • WTC Garage Elevators: $2.8M • T106 Mooring Dolphins: $3.5M • FT C15 Improvements: $2.8M 15 Projects Pending Future Funding Availability • Existing: – T91 Uplands Phase 2 Buildings: $204M • Evaluating development options as Phase I moves forward – T46 North Pier Structure Replacement: $75M • Coordination with other uses of Terminal 46 • New projects: – Freshwater Wetland Mitigation: $40M – T46 North Berth Vessel Charging: $10.5M – T91 Additional Shore Power (Cruise): $4M – T91 Shore Power (Fishing): $1.5M 16 Challenges of Forecasting Future Funding • Maritime/EDD funding is shared with NWSA • Most future capital investments (2028-2032) will be funded with operating income and revenue bonds – Future funding is affected by: • Net income • Continuation of tax levy • Environmental remediation liability payments • Level of other commitments, including community programs and regional transportation contributions • Funding information is still preliminary – Oct 25th Plan of Finance Briefing will provide more comprehensive and updated information 17
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