Bu Budget dget Wo Workshop kshop Presentatio sentation June - - PowerPoint PPT Presentation

Port t Everglades rglades Bu Budget dget Wo Workshop kshop Presentatio sentation

June ne 5, 2 2018 18

Po Port Ev Ever erglad glades es by by the he Nu Numb mber ers s

• #1 Seaport in Florida by revenue - $161.7 million (FY2017)
• #1 Container port in Florida (#10 in U.S.) by volume 1,076,912 TEUs (FY2017)
• #1 Seaport for exports in Florida - $12.1 billion (CY2017)
• #1 Refrigerated cargo seaport in Florida (#5 in U.S.) (FY2017)
• #1 U.S. gateway for trade with Latin America (FY2017)

(15 percent of all U.S./Latin American trade moves through Port Everglades)

• #2 Petroleum port in Florida –122.3 million barrels (FY2017)
• #3 Foreign-Trade Zone (warehouse/distribution exports) in the U.S. (CY2016)
• #3 cruise port for multi-day passengers in the World – 3.8 million (FY2017)

2 TEU = Twenty-foot Equivalent Unit

Ke Key Co Comp mpar arative ative Pe Perform

• rmanc

ance St Stat atistics istics FY FY 2 201 017 7 an and FY 20 d FY 2016 16

3 *Data as reported in the Florida Ports Council Five-Year Florida Seaport Mission Plan for 2017/2021

Measure Port Miami Jacksonville Canaveral Savannah Charleston Everglades (GA Ports (SC Ports Authority) Authority) Total TEUs FY 2017 1,076,912 1,020,000 1,033,068 2,745* 4,046,212 2,137,704 FY 2016 1,037,226 1,028,000 968,279 751* 3,644,521 1,943,170 % Change 3.8%

• 0.8%

6.7% 265.5% 11.0% 10.0% FY 2017 3,863,662 5,341,000 177,417 4,526,626 159,243 Cruise Passengers FY 2016 3,826,415 4,980,000 197,295 4,248,296 150,826 % Change 1.0% 7.2%

• 10.1%

6.6% 0.0% 5.6%

Po Port Ev Ever erglad glades es Re Recom

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mended nded Bu Budg dget et for

• r FY

FY20 2019 19

4

Summary mary of f Fo Forecasted recasted Op Operating rating Revenues venues fo for FY FY 20 2019 19 - $163,970,920 63,970,920

5

$35,855,080 Petroleum 22% $34,931,140 Containerized Cargo 21% $56,643,510 Cruise 35% $8,307,650 Bulk/Breakbulk 5% $16,548,760 Real Estate 10% $8,977,020 Parking 5% $2,707,760 Other 2%

Re Reven enue ue Bu Budg dget et Co Comp mpar arison ison

6

*Includes average and contractual tariff increases of approximately $3.5 million

Division ion FY18 FY19 9 Recom

• mmende

mended d Budget dget* % C Change ge Project jected ed Revenue enue Petroleum $34,814,400 $35,855,080 3.0% Containerized Cargo 34,041,880 34,931,140 2.6% Cruise 55,962,230 56,643,510 1.2% Bulk/Breakbulk 7,169,470 8,307,650 15.9% Real Estate 16,520,650 16,548,760 0.2% Parking 8,713,130 8,977,020 3.0% Other 2,738,410 2,707,760

• 1.1%

Total $159,960,170 $163,970,920 2.5%

Summary mary of f Fo Forecasted recasted Op Operating rating Expenses penses fo for FY FY2018 018 - $101, 01,887,710 887,710

7

$11,790,090 Crane Operations 12%

$23,341,700 Personnel 23% $32,812,990 Law Enforcement, Security & Fire Rescue 32% $5,493,780 Professional Services 5% $5,016,600 Insurance 5% $8,503,850 Repairs and Maintenance 8% $2,712,700 Operating Materials & Supplies 3% $4,087,840 Utilities 4% $8,128,160 Other 8%

Ex Expe pens nse e Bu Budg dget et Co Comp mpar ariso ison

8

*Pending negotiation of final budget based on request from BSO ** SEFM division budgeted in capital fund in prior years

Expense se Cate tegory FY18 Adopte ted Budget FY19 Reco commended Budget % Change Fire/EMS*

$9,785,000 $10,341,560 5.7%

Security*

22,156,000 22,471,430 1.4%

Insurance

5,033,000 5,016,600

• 0.3%

Personnel*

20,763,300 23,341,700 12.4%

Crane Operations

11,144,200 11,790,090 5.8%

Professional Services

4,735,000 5,493,780 16.0%

Utilities

4,211,500 4,087,840

• 2.9%
• Maint. & Repairs

5,553,500 8,503,850 53.1%

Other

5,983,600 8,128,160 35.8%

Materials & Supplies

3,490,200 2,712,700

• 22.3%

Seaport*

2,645,800

• 100.0%

Total

95,501,100 101,887,710 6.7%

Hi Histor torical ical Po Positio ition n Co Coun unt

9

*FY17 requesting a transfer of 2 ETS positions to Port Security *Includes the transfer of 20 Seaport Engineering & Construction staff as a result of a reorganization approved by the Board in September 2016; **maintenance study recommendations included in Adopted Budget and 3 new positions.

224 224 218 218 221 226 248* 251** 251

50 100 150 200 250 300 2011 2012 2013 2014 2015 2016 2017 2018 2019

FY FY20 2019 19 – FY FY20 2023 23 Re Recom

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mended nded CI CIP

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Su Summ mmar ary of

• f Fo

Forec ecas asted ted FY FY20 2019 19– FY FY20 2023 23 CI CIP P - $817,1 ,188,2 88,220 20

11 Reserves $32,000,000 4% Deepening & Widening $96,125,000 12% Bulkheads $144,276,500 18% Cruise / Terminals $188,000,000 23% Cranes $57,000,000 7% Midport Improvements $88,654,000 11% General Infrastructure / Misc. $60,835,000 7% Southport Improvements $150,297,720 18%

2014 Master/ er/Visio Vision n Pl Plan Pr Projec ects ts in FY FY2019- FY FY2023 CIP P – Cargo

• Pr

Projec ects ts

Neobulk Storage Yard Southport Phase 9A Container Yard Foreign Trade Zone Relocation

Southport Turning Notch Extension Super Post-Panamax Cranes

New Crane Rails (Berths 30, 31, 32)

West Lake Mitigation

12

2014 Master/ er/Visio Vision n Pl Plan Pr Projec ects ts in FY FY2019 - FY FY2023 CIP P – Cruise se, Pe Petrole

• leum,

um, Other er

Berths 1, 2, 3 New Bulkheads CT# 2&4 Parking Garage USACE Deepening & Widening Design & Construction CT#21 Improvements/ Expansions Berths 21,22 New Bulkheads Slip 1 New Bulkheads & Reconfiguration (Petroleum berths)

13

Berths 7,8 New Bulkheads Berths 14,15 New Bulkheads Berths 16,17,18 New Bulkheads Berths 19,20 New Bulkheads

Pr Prior

• rity

ity CI CIP Pro P Projec ects ts

14

Southpo thport Turning rning Notch h Extension nsion/Crane ne Rail il Infra rastruct tructure ure

• Upland

land Mangr ngrov

• ve

e En Enhanc ancem ement ent

• Fee simple land transfer completed in August of 2017
• Wes

estlak lake Park rk Mitig itigation ion

• Design completed
• Construction procurement to begin in early fall 2018 due to permit

modification

• Turn

rning ing Notch ch/Cran Crane e Rail il Infrast astru ructure cture Cons nstruction truction

• Agreement for Managing General Contractor approved by the

Board in May of 2017

• Pre-construction commenced in June 2017
• Berth 31-32 crane rail construction underway, estimated

completion June 2019

• Construction completion estimated September 2021

So Sout uthpo hport rt Tu Turni ning ng No Notch h Ex Extens ension/Cra ion/Crane ne Ra Rail Inf nfrastr rastruc ucture ture

Tota tal l Estima imate ted GMP $437.5 .5M

State grants* $86.8M TIFIA Loan Proceeds** $132.8M Port funds/bond proceeds $217.9M

15

*A portion of this funding was used for mitigation **LOI submitted in June of 2017 and under USDOT review

Ot Othe her r Fu Fund nding ng Ini nitiativ tiatives es for

• r

So Sout uthpo hport rt Tu Turni ning ng No Notch h Ex Extensi ension

• n

Transpo ansportat rtation ion Infra rastructure structure Fin inance nce and d Innovat

• vation

ion Act (TIFI FIA) A)

• In June 2017, the Port submitted a Letter of Interest for a

TIFIA Loan through USDOT

• The estimated loan for TIFIA eligible project components is

$132,755,442

• Results in interest cost savings as compared to traditional

bond financing

• Currently evaluating the impact of “Buy American”

requirement associated with the use of Federal funding

16

Priority CIP Projects (Cont’d)

Channel annel Deepe epening ning and d Wid idening ening

• In-kind Memorandum of Understanding and Design Agreement

executed on September 19, 2015

• Congressional authorization included as part of the Water

Infrastructure Improvement for the Nation Act (WIIN) of 2016

• Pre-construction engineering and design (PED) phase underway

with estimated completion mid-2019

• Of the estimated $5.6 million cost of pre-construction engineering

and design, the Port has received $3.6 million from the State

• The Port has also received $55 million* from the State for

construction, with an additional $39.8 million programmed in FDOT’s 5-year Work Program

17

*Includes supplemental Joint Participation Agreement for additional $28.9 million to be brought to the Board for approval on June 12, 2018

Deeper per (48 fe feet+1+1) t+1+1) and Wider der Channels nnels

U.S. Army Corps of Engineers/Port Everglades

18 Tota tal l Proje ject ct Cost* st* $389.3 .3M

Anticipated Federal funding $198.9M Port Funding $190.4M Total eligible for State funding based on current 75% criteria $138.2M Appropriated State funds $55.0M Currently programmed State funds $39.8M

*Updated to October 1, 2016 price levels

Ot Othe her r CI CIP Pro P Projec ect t Up Upda date tes

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Cruis ise Termina inal l 25 Renovatio ations ns

• Construction is underway with estimated completion in October of 2018

in time for the arrival of the new ship Celebrity Edge

New Inter ternat ation ional l Logis istic ics s Center er

• The Board approved the amendment to the agreement for design,

construction, financing, operation, and maintenance of the facility on March 20, 2018

• Planning and design is currently underway with completion estimated

for the fall of 2020

Terminal inal 2 & & 4 P Parkin king Garag age

• The Board approved the selection committee’s final ranking of firms for

managing general contractor on March 20, 2018

• Negotiations are currently underway; anticipate construction agreement

to Board in August 2018.

Cap apital ital Proje roject ct To Tota tals ls

20

Project

Previously Funded FY 19 FY20-FY23 CIP Total CIP USACE Deepening and Widening (Design/Construction/Mitigation) * $111.5 $41.40 $54.70 $207.60 *Includes cost for upfront mitigation in West Lake Park Cruise Terminal 21 (Design/Construction) 12.5 30 30 72.5 Southport Electrical Sub-Station (Construction) 17.6

• 17.6

Logistics Center Milestone Payment (FTZ Relocation) (P3)

• 2.5

2.5 Multimodal Facility Phase 1 (Design/Construction) 3 38.9 41.9 Neo-Bulk Storage Area (Design/Construction) 7.7

• 7.7

Post Panamax Cranes - SP8, SP9 and SP10 (Design/Construction) 54.7

• 30

84.7 New/Replacement Bulkheads Berths- 1,2,3,14,15,16,17,18,19,20,21,22 18.2 11.6 80.9 110.7 (Design/Construction) Slip 1 New Bulkhead at Berths 9 &10 Ph. I (Design/Construction) 83.9 10.5

• 94.4

Slip 1 New Bulkhead at Berths 7 & 8 Ph. II (Design/Construction) 2.8 20.6 20.6 44 Cruise Terminal 25 (Design/Construction) 115

• 115

Southport Phase 9A Container Yard (Design/Construction) 0.9 15.8 16.7 Terminal 2 & 4 Parking Garage(s) - Deck Expansion (Design/Construction) 25 52 44 121 Southport Turning Notch Extension (Design/Construction/Crane Rail) 334.5 103 437.5 New Public Works Facility Building (Design/Construction) 3.6 6 6 15.6 Grand Total $790.90 $290.90 $307.60 $1,389.40

Re Recom

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mended nded FY FY20 2019 19 Bu Budg dget et Ap Appr prop

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iations

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. Adopted FY18 Budget (Dollars in Millions) Recommended FY19 Budget Variance Inc/(Dec) (Dollars in Millions)

Operating Budget $92.9 $101.9 $9.0 Capital Budget 291.2 311.2 20.0 Debt Service Budget 21.3 22.9 1.6 Includes Required Debt Service Debt Service Reserves 10.3 10.3 0.0 Reserves 23.4 24.9 1.5 Operating Capital Renewal & Replacement 14.2 20.0 5.8 Total $453.3 $491.2 $37.9

Co Conc nclusio lusion: n: Ke Key Fo Focus us Ar Area eas

External ernal:

• Competition among Florida Ports
• Parity of State contributions to Florida Ports
• Environmental stewardship

Inter ernal nal:

• Continue collaboration between Port, CVB, and Airport
• More efficient approach to execution of capital program
• Improve alignment between capital construction and recurring

preventative maintenance programs

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