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Title:
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Ordinance amending Ordinance No. 244-16, regarding a Project Partnership between the U.S. Army Corps of Engineers and the Port to allow federal dredging of the Central Basin adjacent to Pier 70, to: 1) change the project dredging depth from 32 feet to 35 feet; 2) increase the estimated initial project cost from $8,971,000 to $11,690,000; 3) increase the Port’s 25% project contribution from $2,242,740 to $2,922,500; 4) change the frequency of maintenance dredging from every four years to every two years, and at an estimated cost of $2,080,000 instead of $1,026,000 for each maintenance dredge episode; 5) increase the Port’s additional 10% matching contribution from $897,100 to $1,169,000; 6) increase the estimated total cost of dredging during the first 30 years from $12,195,000, to $31,300,00; and 7) authorize the Port Executive Director to reserve a contingency fund of $409,150 (equivalent to 10% of the Port’s total estimated cost contributions of $4,091,500), to expend in case of future unanticipated increases in project costs, for a total expenditure authorization not to exceed $4,500,650.
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