la waterfront - cmanc$219 . $222 . $224 . $226 . $228 . $231 $233 . n/a . fy 17/18 . year 3 . fy...
TRANSCRIPT
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LA Waterfront
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Waterfront Development Strategy
DEVELOP PRIVATE
INVESTMENT
ACTIVATE PROGRAMS AND EVENTS
BUILD PORT INFRASTRUCTURE
PROJECTS
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San Pedro Waterfront
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Wilmington Waterfront
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$600M INVESTMENT EXISTING
Commitment to Continued Investment
$400M FUTURE PAIP INVESTMENT
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Welcome Fountain
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Cabrillo Way Marina
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Public Access Investment Plan
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Public Access Investment Plan Port revenues, expenses, and income
$400M REVENUES
$200M EXPENSES
$200M INCOME
- =
10% OF ANNUAL OPERATING
INCOME
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$219 $222 $224 $226 $228 $231 $233 N/A
FY 17/18 YEAR 3
FY 18/19 YEAR 4
FY 19/20 YEAR 5
FY 20/21 YEAR 6
FY 21/22 YEAR 7
FY 22/23 YEAR 8
FY 23/24 YEAR 9
FY 24/25 YEAR 10
$21.7 $21.9 $22.2 $22.4 $22.6 $22.8 $23.1 $23.3
Operating Income Under PAIP We are in year two. Years three through ten are projections.
FY 15/16 YEAR 1
FY 16/17 YEAR 2
$215
$21.3 $21.5
$217
$42.8 10%
Income 10% Allocation Allocation Bank
$222.8 PROJECTED
ALLOCATION
FY 14/15
$213
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11
Port Success Means Community Success
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Waterfront and Commercial Leasing Guidelines • Private Financing Dependent - Waterfront/Commercial developments are heavily dependent
on private financing from banks, insurance funds and equity funds which are sensitive to limitations on term length.
• Development Life Cycles - Economic life cycles for visitor serving commercial developments
are dynamic and heavily influenced by shifting market demand, competition, and the economic environment.
• Proactively Address Market Decline – Economic obsolescence must be addressed proactively in order to limit periods of stagnation or blight that can impact the overall momentum and branding of the district.
• Unique Lease Provision Issues – Issues regarding subleasing, assignments and leasehold financing, are critically different in the private development context.
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LA Waterfront Capital Investments
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Private Investment IS COMING TO THE LA WATERTFRONT
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Events along the LA Waterfront
Visitors Along the Waterfront
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USS Iowa slide
Battleship USS Iowa
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Fleet Week slide
Fleet Week
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GRC slide
Global Rally Cross
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LA Waterfront Visitor Growth
2.46 million 2.61 million
4.5 million
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Current Development Activity
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©2017 3/29/2017 96
SAN PEDRO PUBLIC MARKET 100% Schematic Design
San Pedro Public Market Promenade
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AltaSea
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AltaSea
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Cabrillo Way Marina and Warehouse 1