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

2 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) • TEU = Twenty-foot Equivalent Unit

3 Ke Key Co Comp mpar arative ative Pe Perform ormanc ance Stat St atistics istics FY FY 2 201 017 7 an and FY 20 d FY 2016 16 Port Savannah Charleston Everglades (GA Ports (SC Ports Measure Miami Jacksonville Canaveral 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 0 159,243 Cruise Passengers FY 2016 3,826,415 4,980,000 197,295 4,248,296 0 150,826 % Change 1.0% 7.2% -10.1% 6.6% 0.0% 5.6% *Data as reported in the Florida Ports Council Five-Year Florida Seaport Mission Plan for 2017/2021

4 Port Ev Po Ever erglad glades es Re Recom omme mended nded Bu Budg dget et for or FY FY20 2019 19

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

6 Re Reven enue ue Bu Budg dget et Co Comp mpar arison ison FY18 FY19 9 Division ion Recom ommende mended d % C Change ge Project jected ed Revenue enue Budget dget* 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% * Includes average and contractual tariff increases of approximately $3.5 million

Summary mary of f Fo Forecasted recasted Op Operating rating 7 Expenses penses fo for FY FY2018 018 - $101, 01,887,710 887,710 $32,812,990 $23,341,700 Law Enforcement, Personnel Security & Fire 23% Rescue 32% $5,493,780 Professional Services $11,790,090 5% Crane Operations $5,016,600 12% Insurance 5% $8,128,160 $8,503,850 $2,712,700 $4,087,840 Other Repairs and Operating Materials Utilities 8% Maintenance & Supplies 4% 8% 3%

8 Ex Expe pens nse e Bu Budg dget et Co Comp mpar ariso ison FY19 Reco commended Expense se Cate tegory FY18 Adopte ted Budget % Change Budget Fire/EMS* 5.7% $9,785,000 $10,341,560 Security* 1.4% 22,156,000 22,471,430 Insurance -0.3% 5,033,000 5,016,600 Personnel* 12.4% 20,763,300 23,341,700 Crane Operations 5.8% 11,144,200 11,790,090 Professional Services 16.0% 4,735,000 5,493,780 Utilities -2.9% 4,211,500 4,087,840 Maint. & Repairs 53.1% 5,553,500 8,503,850 Other 35.8% 5,983,600 8,128,160 Materials & Supplies -22.3% 3,490,200 2,712,700 Seaport* -100.0% 2,645,800 0 Total 6.7% 95,501,100 101,887,710 * Pending negotiation of final budget based on request from BSO ** SEFM division budgeted in capital fund in prior years

9 Hi Histor torical ical Po Positio ition n Co Coun unt 300 *Includes the transfer of 20 251** 251 Seaport Engineering & 248* 224 224 226 218 Construction staff as a 250 221 218 result of a reorganization approved by the Board in 200 September 2016; **maintenance study recommendations included 150 in Adopted Budget and 3 new positions. 100 50 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 *FY17 requesting a transfer of 2 ETS positions to Port Security

10 FY FY20 2019 19 – FY FY20 2023 23 Re Recom omme mended nded CI CIP

11 Su Summ mmar ary of of Fo Forec ecas asted ted FY FY20 2019 19 – FY20 FY 2023 23 CI CIP P - $817,1 ,188,2 88,220 20 Cruise / Terminals $188,000,000 Cranes 23% $57,000,000 7% Midport Improvements Bulkheads $88,654,000 $144,276,500 11% 18% General Infrastructure / Misc. $60,835,000 7% Deepening & Widening Southport $96,125,000 Improvements Reserves 12% $150,297,720 $32,000,000 18% 4%

12 2014 Master/ er/Visio Vision n Pl Plan Pr Projec ects ts in FY FY2019- FY FY2023 CIP P – Cargo o 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

13 2014 Master/ er/Visio Vision n Pl Plan Pr Projec ects ts in FY FY2019 - FY FY2023 CIP P – Cruise se, Pe Petrole oleum, um, Other er Berths 1, 2, 3 New Bulkheads Berths 7,8 New Bulkheads CT# 2&4 Parking Garage Berths 14,15 New Bulkheads USACE Deepening & Widening Design & Berths 16,17,18 Construction New Bulkheads CT#21 Improvements/ Berths 19,20 Expansions New Bulkheads Berths 21,22 New Bulkheads Slip 1 New Bulkheads & Reconfiguration (Petroleum berths)

14 Pr Prior ority ity CI CIP Pro P Projec ects ts Southpo thport Turning rning Notch h Extension nsion/Crane ne Rail il Infra rastruct tructure ure • Upland land Mangr ngrov ove 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

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

16 Othe Ot her r Fu Fund nding ng Ini nitiativ tiatives es for or So Sout uthpo hport rt Tu Turni ning ng No Notch h Ex Extensi ension on Transpo ansportat rtation ion Infra rastructure structure Fin inance nce and d Innovat ovation 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

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

18 Deeper per (48 fe feet+1+1) t+1+1) and Wider der Channels nnels U.S. Army Corps of Engineers/Port Everglades Tota tal l Proje ject ct Cost* st* $389.3 .3M Anticipated Federal $198.9M funding Port Funding $190.4M Total eligible for State $138.2M funding based on current 75% criteria Appropriated State $55.0M funds Currently programmed $39.8M State funds *Updated to October 1, 2016 price levels