* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting. [00:00:01] GOOD AFTERNOON. OH, AM I SUPPOSED TO USE THAT OR NOT? YES. YES. OKAY. SUPER. I'M GONNA, UM, GO AHEAD AND CALL THE MEETING TO ORDER OF THE FINANCE COMMITTEE OF THE MARINE ADVISORY COMMISSION. I'M MS. CARLIN. I GUESS I'M JOINED MEETING. MM-HMM. AND WE HAVE TO CALL THE RULE COMMISSIONER CARLIN. I TEMP HERE. COMMISSIONER ICK. COMMISSIONER MURRAY HERE. YOU HAVE A QUORUM. WONDERFUL. SO, UM, FORGIVE ME FOR ASKING FOR COACHING AS WE GO ALONG. I'M GONNA READ THE FIRST AGENDA ITEM IS THE RECOMMENDATION TO APPROVE THE MINUTES OF THE FINANCE COMMITTEE MEETING FROM THURSDAY, APRIL 9TH. I MOVE, THEY BE APPROVED AS DISTRIBUTED. I'LL SECOND THAT. OKAY. I WILL, WE WILL ASK FOR A VOTE. ALL THOSE IN FAVOR? AYE. AYE. DOES UNANIMOUS OKAY. DO WE HAVE TO HEAR NO DISCUSSION ON THAT. DO WE NEED TO CALL, ASK THE PUBLIC TO HAVE ANY COMMENTS? YOU COULD, YES, PLEASE. NO. DOES THE PUBLIC HAVE ANY COMMENTS ON OUR MEETING? OKAY. HEARING NONE WILL GO TO THE NEXT AGENDA ITEM. UM, NUMBER TWO, RECOMMENDATION TO RECEIVE AND FILE A RATING BUREAU OR QUARTERLY EXPENDITURE, REVENUE FINANCIAL REPORT FOR SO MOVED. SO, AND SECOND. ALL THOSE IN FAVOR? WELL, WE DON'T VOTE ON IT UNTIL AFTER WE GET IT. OKAY, WONDERFUL. AND I THINK WE HAVE TO CALL PORTION FORWARD. YEP. YEAH, WE'RE GONNA BRING, UH, MS. PORSCHE SMITH UP AND SHE WILL GO THROUGH THAT. OKAY. OH, THANK YOU. IS THIS GOOD? OH, THAT'S I, ALL RIGHTY. GOOD AFTERNOON EVERYONE. THIS IS THE FISCAL YEAR 26TH, FOURTH QUARTER FINANCIAL UPDATE MEETING FOR THE MARINA OPERATING FUND. BEFORE WE START THE MEETING, I JUST WANT EVERYONE TO KNOW THAT EVEN THOUGH IT'S PAST SEPTEMBER 30TH, AND THAT IS THE END OF FISCAL YEAR 26TH, SEPTEMBER ISN'T CLOSED YET, EVEN THOUGH WE'RE PASSED, IT WILL TECHNICALLY NOT BE CLOSED UNTIL DECEMBER. GIVING ADEQUATE TIME FOR REMAINING REVENUE AND EXPENSES TO BE RECEIVED AND PROCESSED BEFORE FISCAL YEAR 26 IS CLOSED FOR GOOD. WE SHOULD HAVE THOSE FINAL NUMBERS BY END BY OUR NEXT QUARTERLY MEETING. DO YOU ANTICIPATE ANY SIGNIFICANT CHANGES WITH THOSE LATE PAYMENTS OR LATE RECEIPTS? WELL, JUDGING BY, UM, I RAN A ETC YESTERDAY, JUDGING BY WHAT HAS COME IN SO FAR, I DON'T EXPECT ANYTHING OUT OF THE ORDINARY THERE. I, YOU KNOW, THIS IS THE END OF THE FISCAL YEAR, BUT I DON'T SEE ANYTHING JUMPING OFF THE RADAR, SO I THINK WE'RE ON TRACK. ALL RIGHTY. SO I'LL CALL YOUR ATTENTION TO THE PACKET THAT I JUST HANDED OUT. I WILL GIVE A QUICK OVERVIEW OF THE PAGES AND WORKSHEETS IN THE PACKET. THE FIRST PAGE IS THE SUMMARY. THAT'S WHAT WE'RE GOING TO CONCENTRATE ON MOSTLY TODAY. BUT I WANT TO LET YOU KNOW WHAT THE OTHER PAGES ARE AND JUST KNOW THAT THE REMAINING PAGES ARE FINANCIAL REPORTS THAT FEED THE DATA ON THE SUMMARY. SO THAT SUMMARY IS A B THE WORKSHEET. B WORKSHEET IS THE MARINA OPERATING FUND REVENUE. THAT IS ALL THE REVENUE THAT HAS BEEN COLLECTED FROM, COLLECTED INTO THE MARINA OPERATING FUND, REGARDLESS OF ORIGIN. NEXT, WE HAVE WORKSHEET C. THAT IS THE MARINA OPERATING FUND EXPENSES THAT WERE INCURRED SPECIFICALLY BY THE MARINE BUREAU. SO THESE ARE EVERYONE HERE. EXPENSES, SHEET D, THESE ARE MARINA OPERATING FUND EXPENSES INCURRED BY OTHER DEPARTMENTS. AND FINALLY WE HAVE WORKSHEET E, WHICH IS THE MARINA OPERATING FUND, DEBT SERVICE, AND FINANCIAL COSTS. THIS IS, UH, TECHNICALLY IT'S CALLED DEPARTMENT 70, BUT IT'S ALSO CHARGED SOME MARINA OPERATING FUND. IT'S WHERE WE PAY THE DEBT SERVICES AND THE GENERAL CITY OVERHEAD. IT COMES OUT OF THIS FUND, I MEAN, I'M SORRY, OF, UH, DEPARTMENT 70, [00:05:01] WHICH IS THIS REPORT. SO ON THE FINAL ACCOUNTING ON THAT, THE THINGS THAT'LL COME IN, UM, ARE THERE ANY DEPARTMENT 70, WILL THERE BE ADJUSTMENTS TO OVERHEAD? YES. YES, BECAUSE WE ARE, WHAT IS IT, EIGHT DAYS INTO OCTOBER? SO YEAH, EVERYTHING HASN'T HIT YET, SO EVERYTHING IS STILL OPEN AND MOVING. TO ME, THAT WOULD SEEM LIKE AN AREA OF GREATEST RISK WOULD BE YOUR OVERHEAD COSTS. WELL, IF YOU LOOK AT 'EM, THERE'S NOTHING THAT JUMPS OUT THAT'S MORE, IT'S SOMETHING WE HAVE NO CONTROL OVER. OH, THAT IT'S COMING OUT AND ALL THAT. EXACTLY. IT'S THE PERCENTAGE THAT FINANCIAL MANAGEMENT CALCULATES. RIGHT. SO YEAH, NOT MUCH CHOICE IN THAT. ALL RIGHT. SO NOW WE TURN BACK TO FOCUS ON THE SUMMARY SHEET. I'LL GIVE A QUICK GUIDE FROM THE SUMMARY SHEET. ALRIGHT. WE'LL START WITH THE COLUMNS. THE FIRST FOUR COLUMNS ARE THE FISCAL YEAR ACTUALS FOR THE PAST THREE YEARS. THEN IF YOU NOTICE, JUST TO REMIND YOU, IN FISCAL YEAR 25, WE DID THE BOND REFINANCING. SO THERE ARE TWO COLUMNS. THERE IS THE FIRST ONE SHOWING WITHOUT THE BOND REFINANCING TRANSACTIONS. IF THE BOND REFINANCE NEVER HAPPENED, THIS IS WHAT OUR NUMBERS WOULD LOOK LIKE. THE NEXT COLUMN IS WITH THE BOND REFINANCING TRANSACTIONS. WHAT WE'LL FOCUS ON TODAY IS FISCAL YEAR 26. AS YOU CAN SEE, THE FISCAL YEAR 26 BUDGET. NEXT IS THE ONE THAT, AND THIS IS AS OF I RENT THE FINANCIAL REPORT ON MONDAY. SO THESE NUMBERS ARE AS ACCURATE AS OF MONDAY. SO THE FISCAL YEAR, 26 YEAR TO DATE, WE ARE GOING TO GO INTO MORE DETAIL WITH THAT ONE. STARTING WITH THE TOP LEFT GROSS REVENUES. OKAY. ALL OF THE SLIP REVENUE COLLECTED FOR ALL OF OUR MARINAS IS $26,170,841. THE TOTAL RENTALS AND CONCESSIONS COLLECTIONS OF REVENUE IS $1,951,563. THEN WE HAVE OTHER REVENUE, WHICH TOTALS $2,450,000, SIX $450,698 FOR A GRAND TOTAL OF $30,570,101. JUST WANNA REMIND YOU THAT THE BOOKS AREN'T CLOSE. SO WE'RE STILL EXPECTING TO GET APPROXIMATELY ANOTHER MONTH OF REVENUE IN. GO AHEAD. WHAT WOULD BE AN EXAMPLE OF OTHER REVENUE? OH, ALRIGHT. ALL RIGHT. OTHER REVENUE? I'M TRYING TO SEE BECAUSE IT'S ON . OKAY. OTHER REVENUE WOULD COME FROM, DID I GIVE YOU THE BREAK? OH, YEAH, YEAH. IT'S ON THE REVENUE. OKAY. RENTALS AND CONCESSIONS GENERAL, IF LEMME SEE, GIVE YOU THE WORKSHEET. IT IS B, B, YES. GO TO WORKSHEET B AND YOU SEE BREAKDOWN OF OTHER REVENUE UHHUH. SO THAT'S EVERYTHING THAT INCLUDES IF WE WERE TO ADD PARKING METERS IN ARMOR MARINA LOTS, WOULD THE REVENUE FROM THOSE PARKING METERS SHOW UP THERE? NO, BECAUSE WHEN I RUN THE REPORT, I DON'T SEE, UH, REVENUE FOR PARKING METERS LISTED OUT. SO NO, IT WOULDN'T SHOW UP HERE. NO, I DON'T THINK, DO WE HAVE PARKING METERS? RIGHT. BUT DOES THAT GO TO THE CITY GENERAL FUND OR DOES THAT STAY IN OUR, UM, BUDGET? IS THAT WHAT YOU'RE ASKING? I I'M ASKING IN THE FUTURE. OKAY. SHOULD WE BE PUTTING THOSE PARKING METERS IN THIS BASIN WHERE WE ARE RIGHT NOW? WOULD THAT REVENUE THEN APPEAR ON YOUR WORKSHEET, BE AS OTHER REVENUE? IF THE REVENUE WAS ATTRIBUTED TO US AND IT WAS IF THE REVENUE WENT TO US, THEN YES, IT WOULD, UM, APPEAR IN FUND 7,700, WHICH IS THE MARINA OPERATING FUND. BUT SINCE IT'S NOT HERE CURRENTLY, IT'S NOT. BUT YOU SAID IN THE FUTURE. SO, UH, YES. IF THEY ATTRIBUTE IT TO US, IT MAY WOULD SHOW UP HERE. THANK YOU. MM-HMM . ALL RIGHT. SO HOW DO WE MAKE IT ATTRIBUTABLE? ? I THINK THAT'S BEYOND THE SCOPE DECISION. YES. THAT'S A VERY DECISION OF MINE, BUT IT WAS A GOOD POINT OF CLARIFICATION. THANK YOU. YOU'RE WELCOME, JULIE. NOTED. OKAY. NOW MOVING ON TO THE EXPENSES SECTION FOR FISCAL YEAR 26 YEAR DATE ACTUALS. THE MAINTENANCE, UH, TOTAL REVENUES TOTALED $6,081,363 [00:10:03] PARKS AND RECS OPERATIONS. UH, TOTAL $6,917,594. MARINE SAFETY, WHICH IS A LIFEGUARD, OUR PORTION IS $3,053,772. THE MARINE PATROL, WHICH IS OUR MARINE POLICE, UH, $3,272,514. OTHER EXPENSES. OKAY, THIS ONE IS GONNA, I'M GONNA EXPLAIN THIS IN A LITTLE BIT. OTHER EXPENSES, TOTAL $2,407,863. OKAY, SO THAT'S NOT QUITE THE TRUE NUMBER. THE 2.4 MILLION INCLUDES IF YOU LOOK AT THE NEXT LINE, WHICH IS THE CAPITAL IMPROVEMENT PROJECTS, IT INCLUDES THAT, UM, CAPITAL IMPROVEMENT PROJECTS, AND THEN I BACK IT OUT ON THE NEXT LINE. THIS IS JUST FOR VISIBILITY SO THAT YOU KNOW THAT THE PROJECT IS GOING ON, BUT IT DOESN'T ACTUALLY COUNT TOWARDS OUR ANNUAL BUDGET. SO THAT'S WHY I BACK IT OUT. IT'S NOT REALLY COMING OUT OF OUR ANNUAL BUDGET. IT IS A MARINA PROJECT, SO THAT'S, BUT WE WANT IT ON THE RADAR SO YOU CAN SEE IT. OKAY. TOTAL. AND DO WE HAVE VISIBILITY? UM, ARE WE ABLE TO, TO, UM, DRIVE DOWN AND LOOK WHAT INDIVIDUAL PROJECTS AND THAT WHAT THEY'VE BEEN OF THAT 814 K TO PHYSICALLY SEE THE WORK THAT THEY'VE BEEN DOING? WELL, OR, OR BY PROJECT, YOU KNOW, SO MUCH WAS, UM, ADDITIONAL SLIPS IN THE FRONT OF THE MARINA OR ANY OF THOSE? ARE YOU SAYING, UH, BY PROJECT INVOICES, THAT KIND OF THING, JUST TO SPLIT IT BY PROJECT? OR IS IT JUST ONE LUMP SUM OF ANYTHING THAT'S ACCOUNT? OH, NO, NO, NO, NO. THIS IS JUST ONE PARTICULAR PROJECT. OKAY. THIS SO YOU CAN DRILL DOWN AND GET THE INDIVIDUAL PROJECT. YES. THIS IS THE MARINE MAINTENANCE DOCK REPLACEMENT PROJECT. THIS IS, IS THAT ONE, IT'S JUST THE MARINE MAINTENANCE DOCK? JUST THIS ONE? YES. IT WAS ACTUALLY, UH, BUDGETED FOR $1.1 MILLION, BUT AS OF NOW, WE'VE ONLY SPENT THE 814,000 THOUSAND OF IT. AND I DO NOT BELIEVE THAT IT WILL BE FINISHED BY THE END OF THIS YEAR. SO IT'LL PROBABLY BE CARRYING ON. AND YOU'LL BE FINISHED IN FISCAL YEAR 27. OKAY. SO THEN WE GO TO TOTAL EXPENSES. SO FAR, $20,918,937. THAT LEADS US WITH NET REVENUES, WHICH IS REVENUES MINUS EXPENSES OF $9,654,165. OUT OF THAT NET REVENUE, WE PAID THE BOND DEBT SERVICE OF $7,623,963, GIVING US THE GRAND TOTAL DEBT SERVICE COVERAGE OF 1.27. THAT IS WHERE IT STANDS TODAY. BUT LIKE I MENTIONED EARLIER, WE DO NOT HAVE ALL OF OUR REVENUES IN AND WE, UM, ARE EXPECTING THE REVENUES TO BE ON TRACK. SO I DID, UH, RAN A LITTLE SCENARIO AND WE ARE GOING TO, I THINK IT'S GONNA REACH BETWEEN, OUR DEBT SERVICE RATIO IS GONNA REACH BETWEEN 1.3, 1.32 BY THE END WHEN THEY CLOSE THE BOOKS. SO IT'LL MORE THAN EXCEED OUR GOAL RATIO OF 1.25. AND RIGHT NOW OUR NET REVENUE AFTER DEBT SERVICE PAYMENT IS THE $2,030,202. NOW, I DO WANT TO JUST LIGHTLY TOUCH ON FISCAL YEAR 27 BUDGET. THE BUDGET FOR THE REVENUE IS BASED ON A 4% SLIP INCREASE FOR FISCAL YEAR 27, WHICH IS ONLY 1% MORE IN THE FISCAL YEAR. 26 FISCAL YEAR 26 WAS 3%. FISCAL YEAR 27 IS 4%. SO THAT'S INCORPORATED HERE. AND WE'RE EXPECTING A, OF COURSE NOT HIGHER, UH, REVENUE INTAKE AT THE END OF THE YEAR. NOW THE, UH, BUDGET FOR THE EXPENSES, SINCE IT'S A NEW, A NEW FISCAL YEAR, AND WE HAVE, EVEN THOUGH THE BUDGET HAS BEEN ADOPTED AND ACCEPTED, NOT ALL OF THE BUDGET LINES HAVE COME OVER INTO OUR SYSTEM. SO THIS IS THE BASE BUDGET THAT'S SHOWN HERE FOR THE EXPENSES. IT SHOULD BE, IT SHOULD HAPPEN VERY SOON. I MEAN, THIS, IT'S OCTOBER THE EIGHTH, SO IT SHOULD HAPPEN VERY SOON THAT ALL THE LINES ARE GONNA COME OVER AND NEXT MEETING THAT WE HAVE, THEY SHOULD BE RIGHT THERE. DO WE ANTICIPATE ANY CHANGE, UM, WITH THE IMPACT OF ALL THE OVERTIME ON RELATED TO THE RECENT STORMS THAT THERE'LL BE SOME, A BUDGET SUPPLEMENT OR SOMETHING COMING THROUGH? WELL, WITH [00:15:01] THE STORMS THAT HAVE HAPPENED SINCE IT HAPPENED BETWEEN FISCAL YEARS, 'CAUSE IT HAPPENED, SOME HAPPENED IN OCTOBER. SOME EPTEMBER THAT I WOULD ANTICIPATE WOULD BE SOME OF THE LATE CHARGES THAT'LL COME IN. YES, YES. THEY ARE GONNA HIT BECAUSE THEY WEREN'T STANDARD PAYROLL. THEY WERE COMING THROUGH AS OVERTIME. EXACTLY. THEY ARE GOING TO HIT FISCAL YEAR 26 AND, UH, THE BEGINNING OF FISCAL YEAR 27. YES. AND CAN WE SEPARATE SOME OF THOSE COSTS OUT? DO YOU MEAN BY PAYROLL PERIOD? BY FISCAL YEAR, YOU KNOW, UM, TO KNOW THAT, THAT THAT POLO COSTS US ANOTHER 2 MILLION IN OVERTIME OR SOME BALLPARK. OH, GO AHEAD. UH, THEY ARE TRACKING THAT, YES. UH, FOR THESE DIFFERENT STORM EVENTS, UH, WITH, WITH CERTAIN LIKE GL STRINGS. YES. UH, SO WE WILL BE ABLE TO TRACK THE IMPACT IN INCREASINGLY FOR THOSE STORM EVENTS. SO FOR OUR, I, I KNOW WE'RE GONNA BE INCORPORATING THIS MEETING PROBABLY INTO OUR STANDARD MAG MEETINGS MM-HMM . THAT AS A REQUEST. UM, I'D LIKE TO SEE THOSE LINE ITEMS AND THE IMPACT OF THE STORMS, UM, BOTH IN AND EQUIPMENT AND IN MANPOWER. OKAY. MAYBE LONG FOR THAT, READ THE REPORT. OKAY. OTHER THAN THAT, I DON'T BELIEVE I HAVE ANY OTHER NOTES. LET ME JUST MAKE SURE. AND REMIND ME, WHEN DID YOU TRANSFER OVER TO THE MARINE BUREAU? THAT WAS THREE YEARS AGO IN AUGUST. IT WAS THREE YEARS. YES. IT'S BEEN THREE YEARS. UH, AND YOUR GROWTH AND KNOWLEDGE, UM, HAS JUST BEEN SO IMPRESSIVE. THANK YOU FOR THOSE FIRST REPORTS, DEAR AND THE ORGANIZATION. I MEAN, THERE SO MUCH MORE IS SO MUCH EASIER FOR US TO UNDERSTAND. OH, PERFECT. AND, AND THEN THE WAY YOU JUST FLAWLESSLY ARE ABLE TO ADDRESS QUESTIONS. UM, THANK YOU. I APPRECIATE THIS. I REALLY DO. MUCH APPRECIATED. THANK YOU GUYS. ALRIGHT. I'LL SEE YOU IN THREE MONTHS. CAN I HOPE FOR THE QUESTION? GO AHEAD. MOTION ON. GO AHEAD. ARE WE SUPPOSED TO TALK ABOUT THIS MARINE BUREAU SLIP REVENUE BY SIZE? OR IS THIS JUST FOR OUR INFORMATION? INFORMATION? I SPECIFICALLY REQUESTED THAT TO REFLECT UPON WHEN WE DID THE MARINA REBUILD, WE WERE TOLD THAT THE SMALLER BOATS WEREN'T AS POPULAR AT THAT POINT AND THAT THERE WAS A LONGER WAITING LIST AND MORE NEED FOR LARGER BOATS. AND SO THEY RECONFIGURED PORTIONS OF THE MARINA TO ADD THOSE SLIPS. AND SO WITH ALL THE TRENDS AND WITH WHAT PEOPLE ARE DOING, I WAS CURIOUS WHETHER THAT WAS A GOOD DECISION OR NOT. AND BASED UPON THIS REPORT, IT LOOKS LIKE IT WAS AWESOME. THANK YOU. PIA. OH, SO NOW WE HAVE TO TAKE A VOTE, RIGHT? PUBLIC? AYE PUBLIC COMMENT. WE'LL OPEN THIS PUBLIC COMMENT, BRUCE. RIGHT. UH, WITH THE CITY COUNCIL APPROVING 1800 PARKING SPACES IN THE MARINA DISTRICT, UH, THAT WAS APPROVED, THAT IS MOVING FORWARD BECAUSE THOSE FUNDS ARE GONNA BASICALLY FUND THE BOND, UH, FOR THE POOL. UH, BECAUSE THERE'S A $25 MILLION DEFICIT ON THE POOL. I KNOW IT STILL HAS TO GO TO COASTAL COMMISSION. UH, AND THAT'LL START RELATIVELY SOON, UH, FROM WHAT WE, WHAT WE'VE GATHERED. UH, ANY COMMENTS ON THAT? ON THE FEASIBILITY THAT USUALLY BELMONT SHORE STAYS IN BELMONT SHORE AND THOSE THINGS, THIS ONE IS GONNA GO STRICTLY TO THAILAND FUNDS FOR THE POOL. JUST WONDER IF YOU HAVE ANY KNOWLEDGE OF THAT AT ALL. THE 1800 PARKING SPACES? YES, MA'AM. OH, GUESS WE WALKED INTO THE PERFECT TIME. THIS IS A TIME QUESTION. . OH, TODD MAY KNOW. PLEASE REPEAT THE QUESTION. WELL PLAYED FIRST, THE CITY COUNCIL HAS APPROVED, UH, 1800 PARKING SPACES, UH, FOR THE MARINA LOS ALAMITOS, UH, MARINA AREA. ALL THE FREE PARKING SPACES WOULD BE TWO HOUR PARKING. UH, UM, WELL TWO HOUR, $2 AN HOUR. SO $2 AN HOUR, UH, PARKING, I THINK ON THE SECOND STREET. IT'S LIKE $3 AN HOUR. UM, AND IT WAS STATED IN THE COUNCIL MEETING WHEN THEY PASS IT, THAT THOSE DOLLARS WILL GO TO HELP FUND THE BOND FOR THE OLYMPIC POOL. UM, AND I'M JUST WONDERING IF IT NEVER CAME THROUGH US. LAST TIME IT CAME THROUGH US, I BELIEVE. NOT US. I PUBLIC. SO IT NEVER CAME THROUGH THE COMMISSION. UH, AND IT, IT, IT DID LAST TIME AND IT WAS SHUT DOWN DURING, UH, I BELIEVE, UH, MAYOR ROBERT GARCIA'S [00:20:01] TIME. BUT NOW IT HAS ALREADY BEEN APPROVED BY, UH, THE CITY AND I BELIEVE IS VOID THE COASTAL COMMISSION FOR FINAL IMPROVEMENT. SO, UH, THE PARKING STUDY'S STILL UNDERWAY. I FIGURED THAT SEASON RIGHT NOW, WHICH IS THE, THAT FALL SEASON TO GET, UH, PARKING, UH, COUNTS. UH, ONCE THAT STUDY IS COMPLETE, WE WILL BRING, UH, UH, PUBLIC WORKS REPRESENTATIVES TO REVIS COMMISSION TO DETAIL THE PARKING MANAGEMENT PLAN. UH, EVERYTHING'S STILL ON THE TABLE. UH, YOU KNOW, WE'RE, WE REALLY NEED TO GET THE STUDY COMPLETED BEFORE NEXT STEPS. UH, SO AGAIN, UH, THE EXPECTATION IS WE'LL HAVE A PRESENTATION IN THE COMING MONTHS FROM, UH, UH, PUBLIC WORKS AND ECONOMIC DEVELOPMENT IN REGARD TO A PARKING MANAGEMENT PLAN FOR THE ALBINA BAY, UH, MARINA PARKING BETWEEN BASINS ONE AND THREE AND EXTENDED OUT FROM THERE. BUT RIGHT NOW, UH, IT'S STILL AT THAT, THAT HIGH LEVEL WHERE YES, THERE IS FUNDING THAT WILL GO TO FROM A PARKING MANAGEMENT PLAN. UH, MONEY HAS BEEN EARMARKED TO SUPPORT A BELMONT POOL. BUT MY UNDERSTANDING, IT'S NOT MONEY TO GO TO THE BOND. IT'S MONEY TO SUPPORT OPERATIONS. UM, ONCE THE POOL IS OPENED, UM, UH, PARKING MANAGEMENT PLAN REVENUE WILL GO TO OFFSET THE COST OF OPERATING THE DUMP WITH LIFEGUARDS MATERIALS. THANK YOU. ANY OTHER MEMBERS OF THE PUBLIC WISHING TO COMMENT? YES, MA'AM. I TURN THE DOOR OPEN. . SO, UM, I'D JUST LIKE TO GET A LITTLE BIT OF A CLARIFICATION FROM THE SLIP HOLDERS. UM, THERE'S $26 MILLION OF REVENUES GENERATED JUST FROM BY THE SLIP HOLDER. MM-HMM . AND WHAT THE EXPENSES THAT ARE SPECIFICALLY RELATED TO THE SLIP HOLDERS, CERTAINLY MAINTENANCE. DOES MAINTENANCE, IS THAT JUST MAINTENANCE OF THE MARINAS OR IS THAT OTHER KIND OF MAINTENANCE? SAME THING WITH OPERATIONS SAFETY. AND THEN YOU SAID IT'S A PORTION THAT, UM, I CAN'T READ MY WRITING . UM, THAT, UH, THERE'S SAFETY THERE, THAT 3.5 AND SOMETHING AT 3.7 AND SOMETHING AT 2.7. SO MY BOTTOM LINE OF MY QUESTION IS HOW MUCH REVENUES ARE GENERATED BY THE SLIP HOLDERS AND HOW MUCH IS SPECIFICALLY TO THE BENEFIT OF THE SLIP HOLDERS? 'CAUSE LIFEGUARDS AREN'T NECESSARILY A BENEFIT FOR THE SLIP HOLDERS. UM, THE, AND THEN SOME OF THESE EXPENSES ARE JUST, ARE A PORTION LIKE, LIKE, UH, BUT NEW MARINE PATROL, THAT'S, I DON'T THINK WE PAY A HUNDRED PERCENT OF THAT. RIGHT. WELL, THE MARINA OPERATING FUND IS FOR EVERYTHING ASSOCIATED WITH MAINTAINING THE MARINAS AND THAT BENEFITS ALL THE SLIP HOLDERS, BUT THAT'S ALSO THE LIFEGUARDS, WHICH THEY'RE, WE DON'T USE LIFEGUARDS IN THE MARINA. IN THE MARINA ARGUE THAT THEY DO RESPOND TO THE FIRES. SO I THINK WE, THE VOTERS DO SEE DIRECT BENEFIT FROM, FROM OUR LIFEGUARDS IN THOSE EMERGENCY SERVICES, THEIR SAFETY. IT'S NOT A, IT'S SHARED BENEFIT THOUGH. I MEAN, IT'S SHARED BENEFIT. SO I MEAN, DOES WHERE THE LIFEGUARDS HANG OUT USUALLY AT BEACHES, DO THE BEACHES GENERATE ANY MONEY TO COVER THOSE LIFEGUARD EXPENSES? WELL, I APPRECIATE THE COMMENT, BUT UM, NORMALLY DURING PUBLIC COMMENT WE JUST HEAR THE COMMENT AND THERE'S NO, THAT'S BECAUSE OF THE BROWN ACTORS RESPOND. OKAY, FINE. YOU CAN ACTUALLY TALK OFFLINE, BUT JUST WANNA KEEP IT MOVING. WELL, I WAS JUST TRYING TO GET A PART OF CLARIFICATION EXACTLY HOW MUCH OKAY. UNDERSTAND. THANK YOU. OKAY. ANY OTHER PUBLIC COMMENT? OKAY. UM, SEEING NONE, UM, I BELIEVE, LET ME LOOK AT THE AGENDA BACK TO THE QUESTION. ALL IN FAVOR? OH, WE HAVE TO CALL THE QUESTION AND WE'LL CLOSE THAT OUT. YES. ALRIGHT, SO NOW WE NEED TO TAKE A VOTE ON NUMBER TWO. RIGHT. OKAY. AND WE HAVE THE FIRST AND THE SECOND. SO ALL THOSE IN FAVOR? AYE. AYE. AND THAT PASSES. OKAY. NOW WE'LL TAKE REGULAR PUBLIC COMMENT OPEN TO ANY OPPORTUNITY TO ADDRESS THE MARINE ADVISORY FINANCE COMMITTEE ON ANY NON AGENDA ITEMS. EACH SPEAKER IS ALLOWED THREE MINUTES TO MAKE THEIR COMMENTS UNLESS EXTENDED BY THE CHAIR. SO ANY COMMENTS THAT WE HAVEN'T HEARD THAT FOLKS WOULD LIKE TO SPEAK ON THE PUBLIC RECORD? YES, MR. RAG. I JUST WANNA SAY, LIZ, YOU AN I'LL SIT DOWN NOW. THANK YOU. [00:25:03] UH, OKAY. ANY OTHER PUBLIC COMMENTS? OKAY. UM, WE, UH, ANY ANNOUNCEMENTS? ANY ANNOUNCEMENTS FROM THE PUBLIC, ANY ANNOUNCEMENTS FROM CITY STAFF? ANY ANNOUNCEMENTS FROM THE BOARD? OKAY. HEARING NONE, UH, WE WILL TAKE A VOTE TO ADJOURN. ALL THOSE IN FAVOR? AYE. OKAY. * This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.