Waterfront Redevelopment. City Council Briefing May 15, 2006

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1 Waterfront Redevelopment City Council Briefing May 15, 2006

2 Topics Reason for this presentation Recap of recent waterfront events Marina/Park economic and feasibility evaluation Planned next steps

3 Recap of recent events GP operations Waterfront Futures visioning Port property acquisition for a marina (a permitted use) Port /City interlocal agreement Master planning Guiding Principles Concept alternatives Planning Commission recommendations Draft shoreline master program Economic analysis

4 Revitalizing the Waterfront New Downtown Marina

5 Aerated Stabilization Basin 35-acre wastewater treatment lagoon Built by G-P in 1979 Built on aquatic lands $36 million breakwater replacement value

6 2000 Our Changing Waterfront Pulp mill closes in 2000 ASB becomes surplus industrial property G-P proposes ASB as toxic disposal site

7 2004 The New Model Waterfront Futures Group

8 ASB Site Evaluation Not built or permitted for toxic storage No practical re-use for industrial or stormwater treatment High Brownfield risk Unique opportunity for aquatic land restoration and re-use

9 Demand Marina Evaluation Full capacity in slip demand by 2015 Location Examined 6 sites Restoration vs. new construction **ASB Identified as Preferred Marina Site** 2004

10 Port Actions Due-Diligence period Technical evaluation Consultation with City, Ecology, Tribes, DNR, NOAA, WDFW Environmental insurance (excluding ASB) Interlocal agreement Purchase and Sale agreement 2004

11 Clean Ocean Marina Transforming a contaminated lagoon into a community asset 2005

12 Marina Financing ASB Clean-up Costs $34 million 50% MTCA funding 50% moorage fees Facility Costs $18 million 100% moorage fees 2006

13 Economic Benefits Boating Community 80% local boat owners High demand for vessel moorage Marina-related Jobs 279 in Whatcom County Additional 59 w/ new marina 2006

14 Environmental Benefits MTCA Cleanup 350,000 cubic yards of industrial waste removed Habitat Restoration 28 acres of new aquatic land 4,000 feet of shoreline habitat Fish passage connections 2006

15 Community Benefits Removes toxic industrial waste Avoids Brownfields syndrome Expands waterfront economy Restores salmon habitat New waterfront public access Consistent with WFG and Bellingham Bay Cleanup **Revitalizing the Community Waterfront**

16 Marina Development Timeline 2006 RI/FS and Ecology Cleanup Decision Design and Permitting Phase 1 (re-shape ASB, dredge waterway) Phase 2 (ASB sludge removal) Phase 3 (open ASB, cap waterway) Phase 4 (marina development) Marina and Waterfront Park Open

17 Agency Review and Approval

18 Current Conditions

19 Future Conditions

20 Marina/Park Economic Evaluation Existing agreements Standard of cleanup and liability Habitat restoration Relative cost Sources of funds Key Issues

21 Existing Agreements City/Port Interlocal (ILA) ILA) Article I: The Port will assume the costs and risks associated with (i) Georgia-Pacific Pacific s responsibilities for the environmental remediation of the Georgia-Pacific property and the Whatcom Waterway, (ii) the environmental remediation to a higher standard suitable for redevelopment and (iii) the development of all marine infrastructure.

22 Article VI: Existing Agreements City/Port ILA The City agrees to design, construct and maintain at its cost landside public infrastructure as set forth in the NWDP (New Whatcom Develop Plan) The Port will be responsible for design, financing, maintaining, permitting, developing, and operating public marine infrastructure, marinas and visitor moorage facilities as specified in the NWDP.

23 Existing Agreements Waterfront Vision and Framework Plan The Vision for the City Center: The existing aeration stabilization basin (ASB) will be cleaned and opened up to accommodate either a new marina or a new marine habitat combined with stormwater treatment or some combination of those uses.

24 Waterfront Vision and Framework Plan: Preferred Marina Site - Potential for Natural Stormwater Treatment

25 Article VI: Existing Agreements City/Port ILA New Marina. It is anticipated that these facilities will include a new downtown marina within the existing ASB treatment lagoon. The Port will design the facility to maximize connectivity to the Downtown and Old Town commercial areas.

26 Standard of cleanup and liability Port acquisition of GP property based on removal of contaminated marine materials from ASB Dept of Ecology will determine what approach is acceptable for cleanup Filling in ASB to create a park would require the City to assume responsibility for clean-up

27 Habitat restoration Constructing the proposed marina would reclaim 28 acres of marine habitat If the ASB is filled in, it would require acquiring and reclaiming another site to achieve the same level of habitat restoration The expense of acquiring and reclaiming another site would likely be higher

28 Relative cost of 3 options Refer to Evaluation of Marina and Park Options Filling the ASB and creating a park out of it would cost the City over $84 million in taxes Constructing the marina as proposed and adding a 20 acre park outside the ASB would cost the City over $34 million in taxes In contrast, constructing the marina as proposed with a mile of trails and almost twice the area of Zuanich Park would cost the City about $3.5 million.

29 Sources of funds The entire cost of constructing and operating a marina would be recovered from moorage fees. The cost of constructing and operating a park would have to come primarily from City tax revenues.

30 Marina/Park Summary There is significant demand for a new marina adjacent to downtown The WFG Vision and Framework and City/Port ILA anticipated a marina in the ASB Moorage fees will cover the entire cost of constructing the marina and related facilities The marina would provide significant economic benefits

31 Marina/Park Summary continued Constructing the marina as proposed will create twice as much parkland as that existing in Zuanich Point Park The Port is the property owner of the ASB and a marina is a permitted used under the City s zoning regulations The proposed marina will create significant new aquatic habitat Constructing a marina as proposed by the Port is the only realistic option compared with alternatives proposed by others

32 Planned next steps Proceed with baseline economic analysis assuming marina Conduct Remedial Impact and Feasibility Study-Waterway and Lagoon Clean-up (6/15-8/30) Present economic analysis to City Council, Port Commission, and WAG in September Continue public hearings on SMP, EIS and proposed master plan through fall/winter