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Home My WebLink AboutItem #03 - Discussion Item1 r'.'Op 0: 4 4 •i '.0• Mayor and Members of the City Commission ' ,,°.,: Richard L.krosmden Assistant City Manager May 124 1978 Miamarina and Dinner Key Proposal Summaries Attached are summaries of the Miamarina and Dinner Key Marina Proposals that were received on March 31, 1978. At the present time a Marine Review Committee is analyzing the proposals. The Committee is comprised of: 1. Richard Cummings - President of the Marine Council 2. Martin Fine - Attorney 3. E. P. Iaconis - C.P.A. - Engineer 4. William G. Sayer - Vice President of the Marine Council A summary of this review process will be presented at the May 19, 1978, Commission Meeting and a recommendation should be ready for the May 31, 1978, Commission Meeting. roposal No, 1 DK DINNER KEY PROPOSAL SUMMARY A. PROPOSER: Biscayne Recreational Development Company 9655 S. Dixie Highway, Suite 310 Miami, Florida 33156 B. PRINCIPALS: Paul Walker - President James Sprague - Executive Vice President A.W. Crowder Murray Dubbin C. REVENUE TO CITY: Under Phase I (24 months), the City is to receive $150,000 or 15%. When slips increase to 500, then minimum is elevated to $175,000 or 15%. Upon completion of Phase II & III, the City will be guaranteed $400,000 or 15%. "City will also realize an appreciation on the property of several millions of dollars". D. LENGTH OF LEASE: 40 years E. REDEVELOPMENT INVESTMENT: $2,000,000.00 Spent by: July 1, 1980 F. EXPANSION INVESTMENT: $5,000,000.00 Spent by: July 1, 1984 G. PERSONAL INFORMATION: Marina Management & Operations Marina Redevelopment Marina Expansion H. RECENT OPERATIONS: 22 years 12 years 12 years 1. Director of Miami Department of Yacht & Docks, 1964-72 2. Naval attache to Burma as advisor to Port of Rangoon I. REFERENCES: 1. Mayor Steve Clark 2. County Manager Merret Stierheim 3. Oscar Dooley Miami President William Scharrer J. MARINAS LEASED OR OWNED: None MEW MMW MEW mmEw REK EIRE MEW ob Propos' ,l No. 1 DK Page 2 K. MARINAS MANAGED OR OPERATED: 1. Dinner Key Marina 2. Miamarina 3. Watson Island Marina L. MARINA DEVELOPMENT PROJECT PARTICIPATION: 1. Planning and construction of Miamarina 2. St. Thomas Bay filling and dock facilities - Virgin Islands 3. St. John Marina and Docking Master Plan - Virgin Islands FINANCIAL STATEMENT: Assets Cash $57,250 Notes Receivable 100,000 Other Assets 189,964 TOTAL $347,214 Securities Owned: Boston Edison Bonds AT & T Southeast 1st Nat'l. Bank Modular Computer Systems Liabilities Total Liabilities 00 Common Stock 5,000 Surplus 342,214 TOTAL $347,214 55,000 12,000 11,250 10,500 N. CONSULTANTS: 1. Engineering - Bristol, Childs, Crowder & Assoc., Inc. 2. Land Planners - Henderson & Rosenberg 3. Architect - Tellaheche-Rodrigues Assoc. 0. FINANCE PLAN: 1. Letter of Intent from Financial Development Investment Corporation to make $9 million available to proposer for Dinner Key Marina Improvements. 2. Letter of Intent from First Equity Corporation of Florida to provide project financing. P. PROPOSED MARINA RATE CHANGES: Increase rates $0.13/ft/day - $0.10/ft/day - $0.21/ft/day - $50.00/month - $85.00/month Liveaboard Non-liveaboard Transient Sailboat Berth Rental - Commercial Berth to: Effeemerit MIEW moimE MIRM mmit EMff mmm mmw- MEP mew maw Ere mow mum IMF lit MEM MEM Q• PROPOSEb ..IMPROVE tNt$; Phase 1.1. Replace entire existing electrical system. 2. Install new perimeter and pier soft glow lighting system. 3. Extensive reconstruction to Pier # 2. 4. Ultimately replace Pier # 1 with a causeway to islands. 5. Repair or replace seawall where needed. 6. Repair or replacement of pilings where needed. 7. Construct decorative entrance ways to each dock. 8. Plant additional trees and foliage. (Landscaping) 9. Construct perimeter walk (textured) and rustic handrail. 10. Place benches and signs in landscaped areas. 11. Construct a gazebo adjacent to Pier # 5. 12. Remodel and expand dockmaster's office to provide shower and restroom facilities (2 stories). 13. Establish a weather station, chart room and tenant meeting room. 14. Construct a two story bait, tackle and ships store with second story as informal restaurant in Seminole area. (Estimated cost = $500,000 - over and above $2 million investment.) 15. Add 140 new wet storage slips (at least 510 total slips) to be completed within 24 months. 16. Proposer has held preliminary consultation with state and federal agencies regarding permits for off -shore island development. Phase II- 17. Construct causeway in place of Pier # 1 to connect island . 18. Add 400 wet storage slips. 19. Provide island parking spaces and service facilities. 20. Possible future restaurant and entertainment center. 21. Study mooring accomodations for future growth. 22. Phase III - add 400 slips to a total of 1300 slips. 23. Phase II and III permits will take approximately two years. 24. Company is prepared to spend substanial sums for preliminary engineering, etc. 25. Phase IV will provide additional slips at a future time is state approves. 26. Will establish company advisory board composed of: a. member of City staff b. Coconut Grove business community c. boaters docked at Dinner Key 27. Intend to publish a bi-monthly information bulletin. 28. Phase I improvements cost to be approximately $2 million. R. HIGHLIGHTS OF PROPOSAL: Phase.I Improvements • Replace entire electrical power system ▪ Pier I to become causeway to the islands • Gazebo adjacent to Pier 5. • Dockmaster's office to become meeting room, weather and chart room. Also to include shower & toilet facilities as wellas washer and dryers, dispensing machines, etc. Olt propl No: 1 DK Page 4 HIGHLIGHTS .OF ,PROPOSAL continued; Improvements to Seminole = construct a 2 story building; the first floor will be a bait and tackle shop, the second floor a restaurant. - All docks in Seminole to be replaced by new piers. New fuel pumping facility for small and large boats. - Restaurant, $500,000 - which is a sum in excess of the approximately $2 million to be expended on the renovation and expansion of the present marine facility. • Expansion of present docks by 140 within 24 months to bring a total of at least 510 slips. Phase II Improvements ▪ Outer Expansion - seek permit to extend marina to off -lying islands. Phase II - 400 more slips, Phase III - 400 more slips. Total 1300 slips. - To start Phase II, a causeway starting at shorebase of Pier I to immediate off -shore island. • Island to be filled for parking and necessary structure. S. ISSUES TO BE EVALUATED: 1. Development of Islands A. PROPOSER: bINNJR.__KCY....RROPO$AL _SUMMARY. Dinner Key Corporation 822 Dupont Building Miami, Florida Phone: 373-3391 Proposal No. 2 DK PRINCIPALS: Sherwood M. Weiser - Chairman Lester Johnson - President Alexander Lankler - Secretary -Treasurer Donald E. Lefton C. REVENUE TO CITY: $200,000 per year OR 1. 17.5% of gross receipts for boat storage 2. 4.0% of gross receipts from sleeping rentals 3. 1.5% of the first $500,000 gross receipts of restaurant& 4. 2.0% of second $500,000 gross receipts 5. 2.5% of all gross receipts over 1,000,000 of restaurants 6. 10.0% of gross merchandise receipts of Seminole boat sery 7. 2t per gallon fuel sales D. LENGTH OF LEASE: 40 years E. REDEVELOPMENT INVESTMENT: $500,000.00 Spent by: December 31, 1980 F. EXPANSION INVESTMENT: $1,300,000.00 Spent by: December 31, 1981 G. PROFESSIONAL INFORMATION: Marina Management & Operations 10 years Marina Redevelopment 10 years Marina Expansion 10 years H. RECENT OPERATIONS: 1. Merrill -Stevens Dry Dock Co. Dinner Key 2. Punta -Gorda Isles, Burnt Store Landing, Punta Gorda, Florida 3. Columbus Bay Marina, St. Croix, Virgin Islands 4. Cocoplum Marina, Coral Gables I. REFERENCES: 1. Merrill -Stevens President - Fred Kirland 2. Punta Gorda Isles Vice -President - Scott Stepp 3. Cocoplum Marina - James Billings Pt*osal No. 2 DK Page 2 J. MAR.LNA$,_LEASEb OR OWNED: Nbne K. MARINAS MANAGED OR. OPERATED: 1. Merrill -Stevens (7 Years) L. MARINA DEVELOPMENT PROJECT PARTICIPATION: 1. Merrill -Stevens - Dinner Key Dock development 2. Punta Gorda, Burnt Store Landing 3. Columbus Bay, Virgin Islands M. FINANCIAL STATEMENT: Not submitted N. CONSULTANTS: - 0. FINANCE PLAN: - P. PROPOSED MARINA RATE CHARGES: Q. PROPOSED IMPROVEMENTS: 1. Renovate existing facilities (not defined) 2. Add 300 moorings 3. Construct 160 unit floating hotel 4. Modernize Seminole launching ramp and facilities 5. Landscape shoreline, walkways & parking lots 6. Modernize and renovate the dockmaster's office 7. Additional boater service facilities (showers, etc.) will be in City Hall basement. R. HIGHLIGHTS OF PROPOSAL: ▪ Construct and operate an ultra -modern luxurious, 160 unit floating hotel -type accomodation and to construct a floating restaurant "The Palm". - No landside buildings or additions - Provide not less than 500 slips - Add 300 paying moorings to provide are proposed. "visual spectacle". - Modernize the Seminole boat service and launching ramp. - Landscaping to be enhanced and dockmaster's office to be further developed. S. ISSUES TO BE EVALUATED: 1. Project Financing 2. Outside Consultants 3. Finance Plan 4. Floating Hotel & Restaurant Utilities 5. Parking rmm MEE mmw MEW Pasal No. 3 DK DINNER_ KEY MPRO,POSAL-, sSUMMARY A. PROPOSER: Dinner Key Management Inc. (To be incorporated) 2825 Crystal Court Miami, Florida 33133 B. PRINCIPALS: J. P. Sloane - President Stanley E, Pace - Secretary Darwin E. Pace Hector Gai (future employee) C. REVENUE TO CITY: $75,000 per year OR 13% of gross receipts, whichever is greater D. LENGTH OF LEASE: 15 years plus two (2) 15 year options E. REDEVLOPMENT INVESTMENT: $1,500,000.00 Spent within 30 months of final agreement F. EXPANSION INVESTMENT: $1,500,000.00 Spent within 48 months of final agreement G. PROFESSIONAL INFORMATION: Marina Management & Operations 15 years Marina Redevelopment 0 years Marina Expansion 0 years H. RECENT OPERATIONS: - I. REFERENCES: 1. Carolyn Greaves of First Nat'l. Bank of South Miami 2. Meyer, Weiss, Rose & Arkin, Attorneys at Law 3. George Powell of Southeast Mortgage Company J. MARINAS LEASED OR OWNED: None K. MARINAS MANAGED OR OPERATED: 1. Dinner Key (Hector Gai) 2. Miamarina (Hector Gai) L. MARINA DEVELOPMENT PROJECT PARTICIPATION: 1. Bimini Blue Water Marina 2. Water Front - West Indies - Mayreau 3. Waterfront Redevelopment, Kingstown, St. Vincent, British West Indies o.iposal No. S OK Page 2 FINANCIAL STATEMENT: J. P. Sloane = Liquid Assets, Approximately $1,000,000.00 Additional Assets Available $4,000,000,00 N. CONSULTANTS: 1. Borroto & Lee, Architects and Planners 2. Attorney Louis LaFontisee 0. FINANCE PLAN: - P. PROPOSED MARINA RATE CHARGES: Proposer wants complete control over raising dockage fee rates. Q. PROPOSED IMPROVEMENTS: 1. Renovate existing piers. 2. Replace Pier # 1 subject to engineering survey. 3. Extend piers 2, 3, & 5 to provide additional boat slips. 4. Renovate and expand marina toilet and showers in City Hall. 5. Move dockmaster's office to 2nd and 3rd floor of City Hall when space becomes available. 6. Renovate and expand Seminole dock area. 7. Construct new pier north of Pier # 1 adding 116 boat slips 8. Construct pedestrian bridge from Kennedy Park to North Island. 9. Develop other islands for recreation with small docks. 10. Provide mooring space for 275 boats to be served by water taxi. 11. Total wet storage will be: Dockage slips existing 371 New slips 164 New moorings 275 Total: R. HIGHLIGHTS OF PROPOSAL: See Part Q, Proposed Improvements S. ISSUES TO BE EVALUATED: 1. Financing 2. Marina Rates 3. Marina Experience 810 IMMO MEW MMW ffEWEl MEW mm MM- K sam- r MOM MIR wag n IOW 5 • b NNBR_KEY PROPOSAL SUMMARY mposai No. 4 bK PROPOSER: Dinner Key Marina Incorporated 2951 S. Bayshore br, Suite 11-E Miami, Florida 33133 B. PRINICIPALS: Stockholders: Spencer B. Meredith - President; Grove Key Marina J. Richard Bell - Vice President (Institutional Department); Drexel Burnham Lambert, Inc. Carey 0. Cook - Vice President (Institutional Department); Morgan Stanley & Co., Inc. Frederick B. Gleason III - Paine, Webber Inc. (Securities) George H. Kunde - President; Kunde, Driver, Simpson & Associates, Inc. (Engineering) Edward F. Lummis - Vice President; Thorndike, Doran, Paine & Lewis, Inc. (Pension Fund Management) Homer L. Marlow - Senior Partner; Marlow, Shofi, Ortmayer, Smith & Spangler, (Attorneys at Law) William M. Walker II - Vice President; N.D. Meyer & Co. (Municipal Bonds) Directors & Officers: Spencer B. Meredith, President J. Richard Bell, Secretary J. Robert Carter Homer L. Marlow Background profiles for the directors provided. C. REVENUE TO CITY: Bid Part I - Revenues to City during Construction Period Gross Dock Revenue 5% indirect cost, approximately $2,000 per month Revenues from moorings Investment income from undisbursed construction funds. (Could these not be used for developing the islands in case the Federal Gov't. does not come through.) (Is there no contingency in case the Feds don't come through.) (Is there any kind of match for the developing of the island (not whole project) themselves.) (-) (+) (+) MOIR m▪ ilsw gim▪ w mmw Emm ME▪ N m▪ mw mm- w MEW MEW MEW s▪ eik mow mimm M Er E MEW IRE Prosi No, 4 DK Page 1 PEVENUC_.T'C._C!TY continued: (-) Monthly transfer to bond service accounts, including amounts necessary to make up any prior period short -fall. (-) Cost of operating marine facility. 8 d Part II - The Greatest of the Following, On an Annual Basis 1, 25.E of the "Income Available for Distribution" as defined as: Gross Revenues from docks and moorings Monthly transfer to Bond Account Insurance ▪ Ad Valorem taxes, if any - Reserve for bond account OR 2. Minimum annual guarantee of $180,000 OR 3. 50% of "net pre-tax profit" defined as follows: Income available for distribution - All operating expenses relative to marina facility D. LENTH OF LEASE: 30 years E. REDEVELOPMENT INVESTMENT: $8,822,085 (Marine Development) Spent within 3 years of Agreement F. EXPANSION INVESTMENT: $16,998,915 (Landside Development) Spent within 3 years of Agreement G. PROFESSIONAL INFORMATION: Marina Management & Operations Marina Redevelopment Marina Expansion 7 years — 5— years —�— years H. RECENT OPERATIONS: 1. Grove Key Marina I. REFERENCES: 1. Curtis Haggard, Sun Bank of Miami 2. A. D. Harrison, Coconut Grove Bank 3. Otho Bruce, Southeast Bank of Dadeland J. MARINAS LEASED OR OWNED: 1. Grove Key Marina K. MARINAS MANAGED OR OPERATED: 1. Grove Key Marina 2. Richard Bertram L. MARINA DEVELOPMENT PROJECT PARTICIPATION: WPROJA 4 M. FINANCIAL ,STAtEMCNt Assets Propel/S. No. 4 0K Page 3 Liabilities Cash $118,864 Stockholders Notes $100,000 City of Miami Proposed Bonds 1,000 Common Stock 7,31S Development Costs 10,667 Surplus above Par _ 23,11.6 TOTAL $130,431 TOTAL $130,431 CONSULTANTS: 1. Kunde, Driver, Simpson & Associates 2► Price Waterhouse 3. Shaw & Segall, Attorneys at Law 4. Hyatt -San & Benihana 5. Sun Banks of Miami 6. Laventhal & Hurwuth 7. Centro Vasco Restaurant 8. Restaurant Associates 9. Mike Gordans Seafood Restaurant 10. Paine, Webber Inc. 11. Drexel Burnham Lambert, Inc. 12. Morgan, Stanley & Co. 13. Thorndike, Doran, Paine & Lewis, Inc. 14. Marlow, Shofi, Ortmayer, Smith & Spangler, Attorneys at Law 15. N.D. Meyer & CO. (Municipal Bonds) 16. Adrian Werner, Omni -Miami 0. FINANCE PLAN: 1. Revenue Bonds 2. State & Federal Grants 3. Private Capital P. PROPOSED MARINA RATE CHARGES: Existing rates on existing docks $0.18 per linear foot per day on proposed new docks Q. PROPOSED IMPROVEMENTS: See following attached pages R. HIGHLIGHTS OF PROPOSAL: See Part Q on the following attached pages. S. ISSUES TO BE EVALUATED: 1. Management contract offered (not a lease, as specified) 2. Proposal limits future marina expansion 3. Landside development not in Master Plan 4. City Hall - Historic Site 5. All toll parking 6. Traffic impact on area M MINIM EIM MEM Mitt MIK MEk MEIMM MEM NA IMEE mmmr IMEN 1I11 Q. PROPOSED IMPROVEMENTS & DEVELOPMENT: Part I - MARINE 111 A Docks - 7 new piers, Total 527 slips. To be done within 3 years of contract. Modern layout and facilities. 8 Moorings - 4 mooring areas, 375 new moors. Permits needed for dredging inside of North Island and Center Island. Riprap to be built. CI Grove 'Key Marina t2Iierrill-Stevens - - Increase dry storage to 242. Build dock for 31 more boats. Renovate -in turn City extends lease to 30 years Source of tUhai Federal Private Total Cost Revenue Bond or State Capital $3,915,000 $3,915,000 $595,000 $940,000 $500,000 C3 llirrick - Tied to Merrill -Stevens improvements $25,000 O1!North Island - Pedestrian bridge from Kennedy Park $207,000 Extending that park concept onto island. Fishing pier. III Center & Channel Islands - Set up marine nursery $126,000 & underwater park. Both islands should be set aside as wildlife refuge. Provide jobs for youngsters. Ili Mabitat Breakwater - On outside east of Channel Key. $300,000 To be built from piling remains of old piers. South Island - 4 E Seminole Dock - Extension of Bayfront Park through a car bridge. Island is to house C.G. Sailing Club & provide swimming & boating to all. Remove existing site. Replace with 80 seat seafood restaurant. Riprap built. F Commercial Boats - Sightseeing & shuttles to and from work. $1,330,000 $337,000 $1,000 $595,000 $940,000 $207.000 $126,000 $300,000 $32,000 $1,260,000 $1,000 $500,000 $25,000 $337,000 re. PROPOSED MARINE DEVELOPMENT continued: Page 5 Source of Funds Federal Private Total Cost Revenue Bond or State Capital G Coconut Grove Sailing Club - Move club to $584,085 $584,085 South Island leaving present site for Latin Restaurant. Marine Development -- Sub TOTAL: LANDSIDE DEVELOPMENT - iMotel - Lowrise structure, spacious rooms (350), tennis courts, etc. The Shopping Village - 35,000 sq ft, about 40 tenants, 30% specialty shops, 20% gift and clothing, 50% arts & crafts Contingencies $8,822,085 $5,483,000 $1,893,000 $1,446,085 $9,100,000 $4,550,000 $3,348,915 GRAND TOTAL - Invested as $25,821,000 per the proposal $9,100,000 $4,550,000 $5,483,000 $1,893,000 $15,096,085 Note: The Grand Total includes both landside and marine totals. Recap of Restaurant & Parking: I. Restaurants (4) 1. Latin Restaurant at the present location of Coconut Grove Sailing Club 2. Floating Oriental Restaurant 3. 80 seat Seafood restaurant at Seminole 4. Restaurant at proposed hotel. II. Parking About 1,736 total parking spaces. Including 2 upper level parking ramps. 428 parking slots in the upper level. (Paid Parking) - 7 11111111111111141 111 13•AIA SoILT n. 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V..a il.• e,f e. e....- r�t� .♦ fLlslFp .F /Kest ..it r� •F 16p Atft' 17 t ..,J ,C , LD,�#IiA.GI Fro,ec+l� 6r•s5 Flvt.oes for 11'17-i Are- SSZIR. 1,I , "kJ S, v g1 1 ZV - //. 35 Sr t, 4 fC prosy Rs nwi. i• r a Ie.. led + rw o— I'/• 3�S - Fha�-,osvrlg #1.a nix{ 34 1ta'1 •}I.,= it arowih rates o f Abell- 10 <Au 1cnr 14 . Art- fs' f 7 g V Q rro1. (vCnJQS fur D.w{�r1CL 1 � ill 1 • 1.1. I_ r.J. ..✓.�,ia Non: ZF t Rf1ltw,/c i— tilt all Wet i ood tl:cti1 . . Ne. str,dCtL1 tppcc.I I:✓t tivew Zhrr as4.Uwst.••# sr..tati.a t .F t{.a c.;{ , Wit •,. lore. to flatarw.t.4 ...{iOattsb000, .Is 4.. a., . t.•fatJ peva..ots for 1Fs• a'i.ii, sly. 3v6,, Ffar 7 s".es: ; 1 i �i•tn; sl 3u s 30 a.wo 1! Sd : Ne.f Feveni For: ?lit I di kite' iu fo'rlw 30tam fIis rePKsttlI& 'a fiat Reveintiz f rs C 4 Ce..wfi. t&te of a&out f3'. 14 11 1 1 I�� _I Note: id�trit 141atasidtfs SNeIsdiv,J .,l w ,I�qp I�' Alks D NN KtY.,PROPOSAL. _SUMMARY. Propusal No. 5 DK A. PROOSmR: Ecclestone Management Company (Florida Realty Building Co.) Box 3267 West Palm Beach, Florida B. PRINCIPALS: E. L. Ecclestone - President & Sole Owner Robert Norris - Vice President C. REVENUE TO CITY: $50,000 per year Plus - 20% of income over $650,000 - $800,000 Plus - 30% of income over $800,000 D. LENGTH OF LEASE: 30 years with two (2) 10 year options E. REDEVELOPMENT INVESTMENT: $2,000,000.00 Spent by: March 31, 1980 F. EXPANSION INVESTMENT: $1,000,000.00 Spent by: March 31, 1981 G. PROFESSIONAL INFORMATION: Marina Management & Operations 8 years Marina Redevelopment � years Marina Expansion —2— years H. RECENT OPERATIONS: 1. Old Port Cove Marina - North Marina - 76 slips 2. Old Port Cove Marina - South Marina - 194 slips I. REFERENCES: 1. Henry R. Hinckley - Chairman of Henry R. Hinckley & Co. 2. Richard Bertram - Richard Bertram & Co. 3. E. Arthur Shuman, Jr. - R/C J. MARINAS LEASED OR OWNED: 1. Old Port Cove Marina - North Marina 2. Old Port Cove Marina - South Marina K. MARINAS MANAGED OR OPERATED: 1. Old Port Cove Marina - North Marina 2. Old Port Cove Marina - South Marina Proposal No. 5 DK Page 2 MARINA DEVELOPMENT PROJECT PARTICIPATION: 1, Old Port Cove Marina - North Marina 2, Old Port Cove Marina - South Marina M, FINANCIAL STATEMENT: Assets Current Assets $63,753 Fixed Assets 23,485 Investment in Securities 33,921 Refundable Deposits 425 Loans to Shareholders 38,000 Current Liabilities $15,288 Notes Payable 67,500 Common Stock -Par Value $1 10,000 Retained Earnings 66,796 TOTAL: $159,584 TOTAL: $159,584 * See proposal for further financial statement details. N. CONSULTANTS: 1. Post, Buckley, Schuh & Jernigan, Inc. - Engineers & Planners. 0. FINANCE PLAN: 1. Letter of Intent to finance by Southeast 1st Nat'l. Bank of Miami 2. Letter of Intent to finance by Southeast Mortgage Co. 3. Line of credit in the amount of $1 million by the Bank of Palm Beach and Trust Co. P. PROPOSED MARINA RATE CHARGES: Q• PROPOSED IMPROVEMENTS: 1. All existing piers to be replaced with seven (7) new piers. 2. Increase slip spaces to 520 to accomodate boats ranging from 35' to 120'. 3. Provide 200 off -shore mooring spaces. 4. A water taxi service and a self-service dinghy landing for the mooring spaces. 5. A completely new facility at Seminole Landing to include a fuel station and convenience shop for boaters' supplies. 6. A one-story, Caribbean style snack -shack at Seminole intended to serve both boater and park visitors. 7. Seminole Landing to include both trailer ramps and boat hoists. 8. A new, two story Dock Office at the present location. First floor to provide rest rooms, showers, laundry & telephone facilities; second floor to house harbor master and marina offices, the roof to be a look -out terrace. 9. All pier related utility services will be new. IMOR mmm ee mew ENE ENE sow ®a ara ifa MEW MEE MEM MEM oramat- now Wari Prop, al No. 5 DK Page 3 PR DSE6..IMPROVEMUTS continued: 10, Pier construction to be scheduled so one pier at a time is vacated. 11, Dredging kept to a minimum within present channel bounds, 12. Dredged materials to be used to build up the central harbor storm barrier island. 13. Landscaped walkway along the Marina shoreline will connect to existing bicycle pathway already extending from park to park through the area. 14. Space for a bus stop at the Dock Office and tour boat stop in dock area. 15. Space will be reserved on one of the docks for continual use of the annual Boat Show in October. 16. Existing park pathway system to extend to one of the off -shore islands by construction of a pedestrian/bicycle bridge. 17. Island to be cleared for pathways and picnic areas. Long Range Improvements: 18. Develop City Hall into a waterfront restaurant and aviation museum. 19. Current Administration Buildings to give way to tennis courts and other outdoor yard activities, 20. Further Marina expansion. 21. A hotel with related restaurant, lounge, and sky -top views with an associated "Boatel" on one of the off -shore islands. 22. A "Monterey Pier" type facility with arts and craft shops over water. 23. A "Ghiradelli Square" type waterfront plaza with shops and eating places. R. HIGHLIGHTS OF PROPOSAL: See Section Q - Proposed Improvements Conditions set by Proposer: 1. The City of Miami shall provide a minimum of 150 decal parking spaces and make available 250 additional parking spaces, none of which are to be metered. The City provides the maintenance of these spaces. 2. The Boat Show shall have right to use up to 50 slips for a period of 10 days at a rental to be mutually agreed upon. Boat Show must provide 9 months notice of specific dates of show. 3. The proposer will renovate shower and restroom facilities in City Hall, but the City shall provide maintenance following the completion of the renovation. propu 1 No. 6 bK Page 4 E_ Condtttons continued: 4, The City shall guarantee access to the leased property by the Lessee. 6. The Lessee shall have right to install fuel pumps and access to owned property for installation of necessary lines. 6. Lessee shall receive right of use and access agreement for the installation of a pedestrian bridge that commences on City property. 7. The City must maintain all five Mole Islands after improvements by proposer. S. ISSUES TO BE EVALUATED: ess OF Pm 1-roposal No. 7 OK D NNERKEYPROPOSAL SUMMARY. A, PROPOSER: Miami Marina Management Corporation 500 Rushmore Ave. Mamaroneck, New York 10543 B. PRINCIPALS: Gerald Berton - president ............_. Robert S. Bernstein - Vice President C. REVENUE TO CITY: $60,000 per year OR 33.3% of gross receipts PLUS 10% of general merchandize sold 5% on gas sales 3% on new boat sales or brokerage 0f the City's 33% of gross receipts - 25% shall be applied against the cost of construction And remaining 8.3% to be paid annually to City When construction ends 15.7% shall be the share to of the City D. LENGTH OF LEASE: 30 years E. REDEVELOPMENT INVESTMENT: $1,141,267 (Phase I) Spent 24 months after signing of agreement. $505,500 (Phase II - A) Spent 36 months after the first 24 months of Agreement F. EXPANSION INVESTMENT: $1,255,500 (Phase II - B) Spent 60 months after signing of agreement. G. PROFESSIONAL INFORMATION: Marina Management & Operations 21 years Marina Redevelopment 0 years Marina Expansion 0 years H. RECENT OPERATIONS: 1. Nicols Yacht Yards - Mamaroneck 2. Nicols Yacht Yards - Rye 3. Marinas of the Future, Worlds Fair Marina 4. Marinas of the Future, Great Kills Port Marina, S.I. 5. Hudson Harbor 79th Street, Boat Basin MEM MEP MAW IEEE Mat • 1, RErERENctS! 1. Manfred Seiden 2, Leo Silverstein 3. William J. Barrett Propos,. No. 7 DK Page 2 MARINAS LEASED OR OWNED: 1. Nichols Yacht Yards Mamaroneck 2. Nichols Yacht Yards Rye 3. Marinas of the Future, Worlds Fair Marina 4. Marinas of the Future, Great Kills Port Marina, S.I. 5. Hudson Harbor 79th Street, Boat Basin K. MARINAS MANAGED OR OPERATED: 1. Nichols Yacht Yards Mamaroneck 2. Nichols Yacht Yards Rye 3. Marinas of the Future, Worlds Fair Marina 4. Marinas of the Future, Great Kilis Port Marina, S.I. 5. Hudson Harbot 79th Street, Boat Basin L. MARINA DEVELOPMENT PROJECT PARTICIPATION: 1. Developed from raw land entire Great Kills Park Marina, appproximately 400 boats as well as most of the Mamaroneck Marina which is approximately 400 boats. M. FINANCIAL STATEMENT: Personal Financial Statements for: Gerald Berton Robert Berstein Eric Rosenfeld Peter Fischbein Joel Friedman Warren Haber N. CONSULTANTS: - 0. FINANCE PLAN: - P. PROPOSED MARINA RATE CHARGES: Q. PROPOSED IMPROVEMENTS: Phase I 1. Renovation of existin facilities 2. Renovation of Piers 1 & 2 to include new supporting timbers, decking, pilings and finger docks. EE MEE MEE aML Propl No. 7 8K Page 3 PRoPPOStb _IMPROVEMENTS continued: 3. Renbvation of Piers 3, 4, 8 5, including new finger docks and replacement of decking and rotted piling as required. 4. Replacement of perimeter railing on marina bulkhead. 5. Complete rewiring of the marina electric service. 6. Install a public address system and intercom on each pier. 7. Construct a second story on to the existing building for marina and dockmaster's offices. 8. Separate showers, restroom area, laundry & vending machines in the existing marina structure. 9. New, modern Seminole facility to include a bait & tackle shop, snack bar, small ship's store and gas sales office. 10. New 200 ft long gas dock. 11. Build a 600 ft additional floating pier A between existing Piers 4 & 5 to accomodate approximately 100 boats up to 25'. Phase II - A 12. Construct an additional fixed Pier # 6 north of Pier 1 to accomodate 75 large vessels. 13. Extend Pier 1 to Mole 3 in such a way as to provide for pedestrian and bicycle traffic. 14. Mole # 3 to include foot/bicycle paths with picnic/barbeque areas. 15. Place permanent moorings north and south of Mole # 3. 16. Erect a fixed fishing pier at south end of Mole # 3. 17. Construct a satellite snack bar/bait building on island with limited restroom facilities. Phase II - B 18. Construct a tramway the length of Mole 3. 19. Erect 4 fixed piers to accomodate 40 boats each. 20. Extend fishing pier. R. HIGHLIGHTS OF PROPOSAL: See Section Q - Proposed Improvements S. ISSUES TO BE EVALUATED: 1. Performance on existing contracts in New York. 1111.0111111.11111N1111111111 ti Proposal No, 1 M MIAMARINA PROPOSAL- SUMMARY A, PROPOSER: Biscayne Recreation Development Company 9655 S. Dixie Highway, Suite 310 Miami, Florida 33156 B: PRINCIPALS: Paul Walker - President James Sprague - Executive Vice President C. REVENUE TO CITY: $150,000 or 31.5% of gross receipts D. LENGTH OF LEASE: 30 years E. PROFESSIONAL INFORMATION: Marina Management & Operations 8 years F. RECENT OPERATIONS: 1. Director Yacht & Dock department - City of Miami 2. Naval Attache accredited to the government of Burma for advisor to the management of the Port of Rangoon G. REFERENCES: 1. Steve Clark 2. Merrett Stierheim 3. William Scharrer H. MARINAS LEASED OR OWNED: None I. MARINAS MANAGED OR OPERATED: 1. Dinner Key 2. Miamarina J. MARINA DEVELOPMENT PROJECT PARTICIPATION: 1. City of Miami Beach Marina K. FINANCIAL STATEMENT: Assets Liabilities Cash $57,250 Total Liabilities $00 Notes Receivable 100,000 Common Stock 5,000 Assets 189,964 Surplus 342,214 TOTAL $347,214 TOTAL $347,214 NNW IMER mow mom slum IEW BMW BMW n MEW- Prc `.a1 No. 1 M Page 2 iNANCIAL STATEMENT continued: Securities Owned: Boston Edison Book $55,000 ►_ AT & T 12,000 Southeast 1st Natl. Bank 11,250 Modular Computer System 10,500 = MI l.. CONSULTANTS: 1. Bristol, Childs, Crowder & Associates - Engineering Firm M. FINANCE PLAN: 1. Increase rates N. PROPOSED MARINA RATE CHARGES: $0.15 per foot per day - liveaboard $0.10 per foot per day - non-liveaboard $90.00/month for charter fishing vessels $185.00/month for drift fishing vessels $2.20/seat/month for sightseeing boats $95.00/month for charter sailboats $120.00/month for charter sailboats at Pier D, E, F, or G 0. PROPOSED IMPROVEMENTS: 1. Additional equipment 2. Utility provisions 3. Landscaping 4. Clean-up P. HIGHLIGHTS OF PROPOSAL: 1. More promotion and advertising Q. ISSUES TO BE EVALUATED: MEM EME maw Pro'1 No. 4 M • MIAMARINA..PROPOAL. SUMMARY A. PROPOSER: Dinner Key Marina, Inc. 2951 S. Bayshore Drive, Suite 11-E Miami, Florida 33133 D. PRINCIPALS: Spencer B. Meredith, President J. Richard Bell, Secretary C. REVENUE TO CITY: Bid = Part I: Revenues to the City - During Construction From Gross Revenues Estimated - $312,000/year Deduct 10% - 5% to City Est. 15,600 5% to Dinner Key Marina Inc. Est. 15,600 Add - Interest on undispersed Construction funds Deduct - Debt Service & Operating Costs Remaining for Distribution - 50% to City 50% to Dinner Key Marina Inc. Bid - Part II: Revenues to the City Following Completion of Construction The greatest of the following on an annual basis - paid monthly. 1. Revenue "Available for Distribution" = Gross Revenues from Docks and Parking Garage - Less transfer to bond accounts • Less insurance Less ad valorem taxes Less reserve for major repairs Funds available for Distribution (divided) - 25% to City 75% to Dinner Key Marina Inc. 2. Negotiated Minimum Rental 3. Revenue Available for Distribution = Gross Revenues from Docks and Parking Garage - Less all operating expenses relative to the marina facility Funds available for Distribution (divided) - 50% to City (less taxes) 50% to Dinner Key Marina Inc.(less bond reserve) NO MINIMUM GUARANTEE IS PROVIDED IN THE PROPOSAL. i O Prc,,..,sal Noi 4 M Page 2 O. LENGTH O'__.LEA$E: 30 years E. REDEVELOPMENT INVESTMENT: $676,200 Spent within first 30 months of signing F. PROFESSIONAL INFORMATION: Marina Management & Operations 5 years G. RECENT OPERATIONS: 1. Grove Key Marina H. REFERENCES: 1. Verne Clements - Leisure Management Services 2. Curtis. Haggard - Sun Bank of Miami 3. A. D. Harrison - Coconut Grove Bank 4. Otho Bruce - Southeast Bank of Dadeland I. MARINAS LEASED OR OWNED: 1. Grove Key Marina J. MARINAS MANAGED OR OPERATED: 1. Grove Key Marina K. MARINA DEVELOPMENT PROJECT PARTICIPATION: L. FINANCIAL STATEMENT: Assets Liabilities Cash in bank $118,864 Stockholder Notes $100,000 Proposal Bonds 1,000 Capital Stock 7,315 Development Costs 10,567 Capital in excess of par 23,116 TOTAL $130,431 TOTAL $130,431 M. CONSULTANTS: 1. Kunde, Driver, Simpson & Associates, Inc. - Engineers/Architects/ Planners/Surveyors N. CiNANCE PLAN: 1. For the City to issue tax exempt revenue bonds to be purchased by a local banking group. PROPOSED MARINA RATE CHARGES: - mmw MEP MMb ProN,,sal No. 4 M Page 3 P. PROPOSED _IMPROVEMENTS: 1, Replace wood finger piers with conerete ones 2 Study barrier to control surge 3. Replace existing electric utility boxes with proper ones 4, Construct a parking deck over the penisula 5, Build a walkway to parking 6. Toll equipment for parking 7. Landscaping Q. HIGHLIGHTS OF PROPOSAL: 1, The proposer is interested in Miamarina only if he is also awarded the Dinner Key Marina contract. 2. Dinner Key Marina, Inc. proposes not to have a lease contract as specified, but a management contract with a Marine Redevelopment Authority created by the City or with the City itself. 3. The City or the Authority can issue tax exempt revenue bonds to finance project and the bonds would be purchased by a local banking group. R. ISSUES TO BE EVALUATED: 1. Managment Contract A, PROPOSER: MIAMARINA PROPbsAL SUMMARY Ecclestone Management Company P.O. Box 3267 West Palm Beach, Florida 33402 Ack Pr64ta1 No, 6 M B. PRINCIPALS; E, L. Ecclestone - President & Sole Owner Robert Norris - Vice President C. REVENUE TO CITY: $50,000 Guarantee PLUS 25% of Gross Rental Income $300,000 - $400,000 30% of Gross Rental Income over $400,000 D. LENGTH OF LEASE: 3C years E. PROFESSIONAL INFORMATION: Marina Management & Operations F. RECENT OPERATIONS: 1. Old Port Cove Marina - North Marina 2. Old Port Cove Marina - South Marina G. REFERENCES: 1. Henry Hinckley - Chairman, Henry R. 2. Richard Bertram - Richard Bertram & 3. E. Arthur Shuman, Jr. - R/C H. MARINAS LEASED OR OWNED: 1. Old Port Cove - North Marina 2. Old Port Cove - South Marina I. MARINAS MANAGED OR OPERATED: 1. Old Port Cove - North Marina 2. Old Port Cove - South Marina J. MARINA DEVELOPMENT PROJECT PARTICIPATION: 1. Old Port Cove K. FINANCIAL STATEMENT: Assets Current Assets $63,753 Fixed Assets 23,485 Investment in securit. 33,921 Refundable deposits 425 Loans to shareholder 38,000 TOTAL, $159,584 8 years Hinckley & Co. Co. Liabilities Current Liabilities Notes payable Common Stock Retained Earnings TOTAL: $15,288 67,500 10,000 76,796 $159,584 lit t Pro ral No. 5 M Page 2 L. ;OONS.ULTAN'S,t 1. Post, Buckley, Schuh & Jernigan, Inc. = Engineers & Planners M. FINANCE ..PLAN.: 1. Bank of Palm Beach & Trust Co. to approve a line of credit for $1,000,000 if proposal is chosen► N. PROPOSED MARINA RATE CHARGES: 0. PROPOSED IMPROVEMENTS: 1. Correction of problems. 2. Provide professional experienced management. 3 Have adequate financial stability. P. HIGHLIGHTS OF PROPOSAL: Conditions set by Proposer: 1. The City is to provide the parking as is now to Lessee without meters. 2. The City is to provide lessee with access to the property for lessee, invitees and tenants. The City shall maintain the parking areas. 3. Lessee will provide own liability insurance and name the City as an additional insured. City shall provide all other insurance. Q. ISSUES TO BE EVALUATED: 1. Parking Arrangements 2. Insurance mist MEE MEC MEC MEM MEM NEM MEM N EW N EW wog smiw w og MEE MEW MEE SEM MEC t MIAMAR NA m Ro AL _St1MMAIY A, PROPOSER. D. PRINCIPALS: C. REVENUE TO CITY: D. LENGTH OF LEASE: Proposal No. 6 M Miamarina Management, Inc, (State Products Co.) 1403 Genoa Street Coral Gables, Florida 33i34 Stanley E. Pace - President Darwin E. Pace - Secretary/Treasurer Hector Gai - Anticipated Marina Manager $52,500 minimum OR 15% of Gross Receipts 15 years and two (2) 15 year options E. PROFESSIONAL INFORMATION: Marina Management & Operations 14 years (Hector Gai) F. RECENT OPERATIONS: 1. Miamarina 2. Dinner Key G. REFERENCES: 1. General Motors Overseas, 9th Floor, G.M. Building, Grand Blvd. Detroit, Michigan 2. Ford Motor Company, Michigan 3. Engineering Casting, Hialeah, Florida H. MARINAS LEASED OR OWNED: None I. MARINAS MANAGED OR OPERATED: 1. Miamarina 2. Dinner Key J. MARINA DEVELOPMENT PROJECT PARTICIPATION: H. FINANCIAL STATEMENT: Stanley Pace Assets Cash $1,500 Securities 113,920 Real Estate 93,000 TOTAL $268,270 (includes other) Liabilities Total Liabilities $23,600 Surplus 244,620 TOTAL $268,220 .▪ .m ==▪ . mm Easw- MEOW • r • FINANCIAL,._STA1'EMENT continued: Darwin Pace Astetg Proposal No, 6 M Page 2 i Li abirl iti es. Cash $26,000 Liabilities $120,830 N/R 15,000 Net Worth 429,21 Stocks & Bonds 245,101 Real Estate 201,000 TOTAL: $550,101 TOTAL $550,101 (includes other) L. CONSULTANTS: - M. FINANCE PLAN: - N. PROPOSED MARINA RATE CHARGES: - 0. PROPOSED IMPROVEMENTS: 1. To install an acceptable solution to the existing wave action and surge problem. 2. To improve the flow of water through the basin to help eliminate pollution and improve the cleanliness of the water. 3. To install a holding tank sewage pump out facility. 4. Construct a more efficient dock office. 5. To study the feasibility of operating a boaters' supply facility. 6. To operate and maintain the marina in a first class manner by supplying facilities, information and good will. 7. To keep abreast of the latest techniques and developments of marina operations. P. HIGHLIGHTS OF PROPOSAL: See Section 0 - Proposed Improvements Q. ISSUES TO BE EVALUATED: Prop...a1 No. 7 M MIAMARINA _PROPOSAL. SUMMARY A. PROPOSER: Miami Marina Management Corp, 500 Rushmore Ave, Mamaroneck, New York 10543 B. PRINCIPALS.: Gerld Berton - President Robert Bernstein - Vice President Warren Haber Joel Friedman Peter Fischbein Eric Rosenfeld C. REVENUE TO CITY: $51,000 Guarantee OR 22.1% of gross receipts Calculated at: 15.7% of first $325,000 50.0% of the excess over a base of $325,000 The $325,000 base is compounded 10% each year D. LENGTH OF LEASE: 5 years with five (5) 1 year automatic renewals After 10 years, option E. PROFESSIONAL INFORMATION: Marina Management & Operations 21 years F. RECENT OPERATIONS: 1. Nichols Yacht Yards, Mamaroneck 2. Nichols Yacht Yards, Rye 3. Marinas of the Future, Worlds Fair Marina 4. Marinas of the Future, Great Kills, Staten Island 5. Hudson Harbor 79th Street Boat Basin G. REFERENCES: 1. Manfred Seiden 2. Leo Silverstein 3. William Barrett All of New York H. MARINAS LEASED OR OWNED: 1. Nichols Yacht Yards, Mamaroneck 2. Nichols Yacht Yards, Rye 3. Marinas of the Future, Worlds Fair Marina 4. Marinas of the Future, Great Kills, Staten Island 5. Hudson Harbor 79th Street Boat Basin MME MEE MEM mmw NSAINIG OMR EOM lit OMM BEI 1= i Propo, No. 7 M Page 2 t1 MAPINAS_ MANAGEb_ OR OPERATED: 1. Nichols Yacht Yards, Mamaroneck 2. Nichols Yacht Yards, Rye 3. Marinas of the Future, Worlds Fair Marina 4. Marinas of the Future, Great Kills, Staten Island 5, Hudson Harbor 79th Street Boat Basin J. MARINA DEVELOPMENT PROJECT PARTICIPATION: 1. Developed marinas from unimproved lands. K. FINANCIAL STATEMENT: Personal Financial Statements from all the principals for a Grand Total of $6,967,900 in Assets. L. CONSULTANTS: - M. FINANCE PLAN: - N. PROPOSED MARINA RATE CHARGES: O. PROPOSED IMPROVEMENTS: 1. Computerize Miamarina's finances 2. Monthly status reports to the City concerning marina's day-to-day functioning and conditions. 3. Implement marketing and goodwill programs. 4. Establish organized and systematized standard procedures concerning each aspect of the marina's operation. P. HIGHLIGHTS OF PROPOSAL: See Section 0 - Proposed Improvements Q. ISSUES TO BE EVALUATED: 1. The City should look very carefully at the 10% escalator clause: a. it is too high b. they do not guarantee that they will increase revenues by 10% per year. c. they do not guarantee a gross receipts level high enough so as to make the 10% escalator clause less devastating on City returns. 4 1 MIAMARI,iA PROPOSAL_.._ UMMARY A. PROPOSER: BPRINCIPALS: C. REVENUE TO CITY: D. LENGTH OF LEASE: ProNjsal No. 8 M New World Marinas Inc. Suite 1021, City National Bank Bldg, 25 W. Flagler St. Miami, Florida 33130 Gladys Dubbin - President Dorothy Dubbin - Secretary -Treasurer Thomas R. Post - Vice President . Director Irvin J. Stephens - Director $40,500 minimum OR 10.5% of gross 15.0% of gross 20.0% of gross receipts up to $750,000 receipts between $750,000- $1,000,000 receipts over $1,000,000 20 years with an additional 20 year option SEE PERSONAL INFORMATION DOCUMENTS IN PROPOSAL FOR FOLLOWING CATEGORIES: E. F. G. H. I. J. PROFESSIONAL INFORMATION RECENT OPERATIONS REFERENCES MARINAS LEASED OR OWNED MARINAS MANAGED OR OPERATED MARINA DEVELOPMENT PROJECT PARTICIPATION K. FINANCIAL STATEMENT: Assets Cash $50,000 Prepaid Expenses 5,000 TOTAL: $55,000 Also included personal financial L. CONSULTANTS: - M. FINANCE PLAN: - N. PROPOSED MARINA RATE CHARGES: Liabilities Liabilities Capital Stock TOTAL: $40 ,000 15,000 $55,000 statements for Gladys & Dorothy Dubbin. wow MOW IIMD MEW UMW VAT NiCT MMM MIPMPr • ImiEw Ear mm m mmm mm MOP bmr EM MEM MEM MEW sm mimmx maw - EEG MEE BED 1 Ek MO BB= ME MM MM Propota" a. 8 M Page 2 0. PROPASED IMPAOVEMENTA! 1. Beautification program to include repair, painting and a continual basin cleaning operation. 2. Development program designed to provide full service marina facilities including fuel dock, ship stores, laundry, information center and telephone, mail & message services. 3. Program to increase number of transient and permanent boat slips. 4. Remodel and enlarge dock office possibly to include a 2nd floor for maximum management view of the marina and better security. 5. Provide facilities for a marina shuttle and taxi service to serve Watson Island, downtown Miami and Dade County. 6. Enhance the marina security by augmenting it with a security service and new security equipment. 7. Institute an agressive promotional and advertising program. 8. Implement financial control systems utilizing public accountants and strict control procedures. 9. Develop small boat launching facilities. 10. Staff with competent, qualified, responsible personnel. 11. Expand Civic use of facility by participating in City and County programs, special events and celebrations. 12. Enhance physical plant maintenance program to preserve the marina properly. 13. Manage Watson Island Marina pending its replacement. 14. Provide a pump out service for newly Coast Guard required marine sanitation services. P. HIGHLIGHTS OF PROPOSAL: See Section 0 - Proposed Improvements Q. ISSUES TO BE EVALUATED: `' ` Prop I No. 9 M MIAMARINA._PROP SAL-_..$ 111A,RY A. PANZER: Russell Properties, Inc. 2920 Inkster Road Inkster, Michigan 48141 8, PRINCIPALS: Jack E. Russell - President Irving J. Resnik C. REVENUE TO CITY: $24,000 OR 10% of gross receipts for first $335,000 and 15% of gross receipts over $335,000 Also: 1% of gross receipts from yacht sales and brokerage D. LENGTH OF LEASE: 10 years with two (2) 5 year options E. PROFESSIONAL INFORMATION: Marina Management & Operations 3 years F. RECENT OPERATIONS: 1. Crystal Harbor Marina, Glen Arbor, Michigan G. REFERENCES: 1. Creith & Woodford Co., Inkster, Michigan 2. Eurich Clock, Inc., Dearborn, Michigan 3. Acme Diesel, Inc., Inkster, Michigan H. MARINAS LEASED OR OWNED: None I. MARINAS MANAGED OR OPERATED: 1. Crystal Harbor Marina, Glen Arbor, Michigan J. MARINA DEVELOPMENT PROJECT PARTICIPATION: K. FINANCIAL STATEMENT: Assets AND Liabilities Real Estate $550,000 Real Estate Mortgages Cash 5,000 (Unaccounted) Accounts Receivable 3,000 Fixtures 2,000 TOTAL: (Unaccounted) 5,000 TOTAL: $565,000 Proposal ..J, 9 M Page 2 L. CONSULTANTS: M, FINANCE PLAN: N. PROPOSED MARINA RATE_ CHARGES: O. PROPOSED IMPROVEMENTS: 1. New and modern traffic control office with a public address system 2. Additional signage so that Miamarina could be identified from the water 3. Ongoing annual piling repair and/or replacement program 4. Higher standards of cleanliness for restroom and laundry facilities 5. Possible installation of a wave -barrier system 6. Shop for transients on the marina 7. More parking for marina P. HIGHLIGHTS OF PROPOSAL: See Section 0 - Proposed Improvements And; 1. Miamarina is zoned P.R. and not subject to a property tax. If this status is changed, tax payment would be deducted from proceeds of the lease payment. Q. ISSUES TO BE EVALUATED: l& MM