
COMMISSION AGENDA
Tay Yoshitani, Chief Executive Officer
04-01-2011
Page 4 of 5
Effect on business
performance
Operating expenses for 2011 are increased by $375,500
as a result of this project. However, the project was
included in the 2011 Operating Expense Budget so
operating expenses and Net Operating Income (NOI)
remain in line with 2011 Budget.
ECONOMIC IMPACTS AND BUSINESS PLAN OBJECTIVES:
Maintaining this fire protection system now is beneficial to ensure the safety of the
Bell Street Central Garage and the tenants that utilize this parking garage. Delaying
the replacement of the fire protection system could potentially cause a risk of system
failure during a fire emergency or potential material cost increases. Additionally, this
could lead to not only loss of property, higher rebuilding costs, but also could lead to
loss of life.
STRATEGIC OBJECTIVES:
The proposal supports the following Port Strategies and Objectives:
Exhibit Environmental Stewardship through our Actions by assuring our facilities
comply with local fire codes.
Be a High-Performance Organization by efficiently maintaining our properties to
achieve maximum benefit at the minimum cost.
The proposal also supports the Real Estate and Land Use Principles of the Century
Agenda by contributing to the stewardship and management of publicly owned assets,
and protecting the building infrastructures to ensure operational requirements of tenants
are being met.
TRIPLE BOTTOM LINE:
This parking garage is utilized by its leased tenants, but also as a 24/7 valet for cruise
ship passenger vehicles. Maintaining the fire protection system is essential to a safe
environment for our community.
Promotes safety of the Port assets, employees, tenants and surrounding community.
Utilizes expertise of Port crews instead of outside vendors for installation and
maintenance.
ALTERNATIVES CONSIDERED AND THEIR IMPLICATIONS:
Alternative 1: Request authorization $375,500 to award a material bid for the
replacement of the two sprinkler (fire protection) systems at Bell Street Central
Garage. This authorization amount would also include Marine Maintenance labor to
install these systems. This is the recommended alternative.
Alternative 2: No change. This is not recommended. The fire protection systems are
past their life expectancy and have shown signs of deterioration. A failure of the
system(s) is subject to happen during a future inspection/fire emergency. This could