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ALAMITOS MARINA REBUILD UPDATE
(April 15, 2013)
The construction for Basin 4 is 100% complete, and we have released the construction retention to the contractor.
The construction for Basin 1 is moving forward nicely. The original completion estimate for Basin 1 was April 30 for
Docks 1 and 2, and June 30 for Docks 3, 4 and 5. The contractor has told us that the docks will be in, including
all utilities and dock boxes, by April 30, and that we will be able to occupy. The only issue is we may not have live
power for a week or two into May.
Docks 3, 4 and 5 are also on schedule, and we are being told that they will be ready for occupancy in early July.
Our next phase is the rebuild of the 35-slip Basin 5. That is the next phase for the following reasons:
The World Special Olympics are coming to Long Beach in 2015, and the rebuild is needed to accommodate a
pre-Olympic trial event in 2014, and the Special Olympics in 2015.
We will be able to complete it with accumulated surplus funds and will not need to borrow to complete that phase.
The timing will be such that we can complete it in the off-season, avoiding a conflict with large local sailing
events such as Race Week.
We are also in discussions regarding Basins 2 and 3. We have agreed that the first phase for this large area would be rebuilding all of the utilities around the perimeter. We anticipate this will cost about $2 million. This will enable us to move forward on the rebuild of Basins 2 and 3 in smaller phases, and simply attach to the new utilities once complete, which will make the rebuild of that large section of the marina more manageable, and reduce impact to our customers.
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