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Port staff outlines costs and options for South Beach Harbor after redevelopment transfer; tenants protest proposed rate increases
Summary
With management of South Beach Harbor transferring to the Port after dissolution of the Redevelopment Agency, staff reported a roughly $800,000 operating deficit and potential BCDC‑mandated capital needs of about $10 million; a market appraisal recommending large rate increases drew strong opposition from tenants, who said the process was rushed and would displace longtime and lower‑income berth holders.
Port staff told commissioners that the Port will assume day‑to‑day management of South Beach Harbor and related redevelopment properties effective July 1, 2012, and presented financial analyses that show the facility operating at a projected deficit unless rates or revenues change.
Peter Daley, Deputy Director of Maritime, said South Beach Harbor is a 700‑slip marina built in 1986 with a current wait list and high occupancy. He said the original financing included about $24,000,000 in revenue bonds and an approximately $8,000,000 California Department of Boating and Waterways loan, and noted a later $10,000,000 improvement program. Daley said port staff’s analysis, including an appraisal by David Tattersall & Company, shows the harbor is under market and that capital needs — including Bay Conservation and…
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