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Port approves $40M+ additional contract authorizations for Pier 27 cruise terminal; Phase 2 funding shortfall remains
Summary
The Port Commission approved contract amendments and budget changes for the James R. Herman Cruise Terminal (Pier 27), increasing Phase 1 and Phase 2 authorizations; staff said Phase 1 is funded but Phase 2 still has an approximate $4.2 million shortfall and proposed financing options including passenger facility charges and bonded debt.
Port Project Director Kim Von Blahn and Elaine Forbes, the Port’s CFO, told commissioners that Phase 1 construction of the James R. Herman Cruise Terminal is roughly 80% complete and on schedule for turnover to the America's Cup Authority on March 1, 2013. Staff requested and the commission approved contract and budget amendments to fund remaining Phase 1 work and to move Phase 2 into construction.
"Phase 1 construction of the core shell is about 80 percent complete and is on schedule for handover to the America's Cup Authority on 03/01/2013," Von Blahn said. She described Phase 2 work to finish U.S. Customs and Border Protection facilities, a 2.7‑acre Northeast Wharf…
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