Title:
Title
Agreement Amendment: Sacramento Marina, South Basin Construction Loan Agreement
End
FileID
File ID: 2019-01176
Location
Location: Sacramento Marina, District 4
Recommendation:
Recommendation
Pass a Motion authorizing the City Manager or the City Manager's designee to execute Amendment No. 7 to the Sacramento Marina, South Basin Construction Loan Agreement with the State of California Department of Boating and Waterways.
Contact: Lucinda Willcox, Program Manager, (916) 808-5052, Department of Public Works
Body
Presenter: None.
Attachments:
1-Description/Analysis
2-Agreement Amendment No. 7 to South Basin Construction Loan Agreement
Description/Analysis
Issue Detail: The Sacramento Marina (the "Marina") is a full-service City-operated facility. The Marina operates as a special revenue fund, which requires the facility to use the revenue it generates to cover its operating and debt service costs. The City has a number of loans for capital improvements at the Marina. The largest of these, the South Basin renovation loan (City Agreement No. 2005-0307) is a $9 million loan the City received from the State of California Department of Boating and Waterways (DBAW) for a project to implement major improvements at the South Basin of the Marina.
The project included demolition of 40-year old wooden berths and construction of a reconfigured system containing approximately 171 slips and berth covers, installation of gangways, construction of a new restroom, replacement of utilities, dredging, addition of fuel dispensers, construction of a dock connector between the two basins, installation of a fire sprinkler system, and addition of a security system. The original loan $6.2 million agreement was executed in May 2005 with an initial loan installment of $850,000; additional amendments and additional loan amounts occurred as the project proceeded. The City Council approved acceptance of a total loan amount of $9 million in May 2008. The project ...
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