Revised Public Access Investment Plan to be Presented to Harbor Commission on Feb 19th

FOR IMMEDIATE RELEASE

Contact:
Phillip Sanfield
Director of Media Relations
(310) 732-3568
psanfield@portla.org
________________________________________

REVISED PUBLIC ACCESS INVESTMENT PLAN TO BE PRESENTED TO HARBOR COMMISSION ON FEB. 19TH

Community Input Leads to Revamped Plan Offering Defined, Accountable and Sustained Approach to Public Investment
SAN PEDRO, Calif. — February 11, 2015 — After a series of public meetings and extensive community input, the Port of Los Angeles has significantly revised and streamlined its original draft funding policy and reshaped it into a Public Access Investment Plan. The proposed plan is intended to create a sustainable and predictable approach to the Port’s yearly investment in non-cargo related, public-serving projects and programs.

The proposed Public Access Investment Plan will be presented to the Harbor Commission for consideration at its February 19th meeting. The public is again invited to comment at the 8:30 a.m. meeting, which will be held at the Port’s Harbor Administration Building, 425 S. Palos Verdes Street, San Pedro.

“I greatly appreciate all of the feedback that we’ve received in public meetings and conversations over the past two months,” said Port of Los Angeles Executive Director Gene Seroka. “The revised plan reflects that spirited input and has led to a framework plan that outlines the Harbor Department’s financially significant, year-over-year investment to advancing a broad range of public-serving projects and programs.

“We are committed to helping transform and create more public access along the LA Waterfront,” Seroka added. “I’m particularly grateful for the work of the Neighborhood Councils, community leaders and local chambers of commerce and look forward to working closely with them as we move forward.”

The plan proposes allocation of approximately $400 million over the next decade. Based on community input, the following six projects have been identified and will be incorporated into the Port’s planning for its 10-year Capital Improvement Program:
– Sampson Way and 7th Street intersection improvements
– Town Square at 6th Street connecting Downtown Harbor to Ports O’ Call
– Ports O’ Call Promenade and parking
– Wilmington Waterfront Promenade and repurpose or demolition of former Catalina Freight building
– Harry Bridges Blvd. beautification between Island Avenue and Avalon Blvd.
– Wilmington Waterfront Pedestrian bridge

The proposed plan provides budget guidelines to Harbor Department staff for capital development of public access projects and initiatives. Generally, the plan proposes to allocate 10 percent of the Harbor Department’s annual operating income from the latest available fiscal year for the capital development of public access projects. If approved, the plan would altogether allocate $39.4 million in Fiscal Year 2015-2016, of which $22.1 million would be invested in capital projects. Under the plan, this approximate investment level may be enhanced in subsequent years based on the Port’s commercial performance.

The revised plan has been streamlined to simplify allocation calculations, commits to seeking additional outside funding where appropriate, and to the maximum extent possible, previously approved contracts and mitigation projects will be separate from the approximately $400 million estimated in the plan.

The Port of Los Angeles is America’s premier port and has a strong commitment to developing innovative strategic and sustainable operations that benefit the economy as well as the quality of life for the region and the nation it serves. As the leading seaport in North America in terms of shipping container volume and cargo value, the Port generates more than 830,000 regional jobs and $35 billion in annual wages and tax revenues. The Port of Los Angeles – A cleaner port. A brighter future.

# # #