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Item No. 3 (continued) Jack Vickerman, Vickerman, Zachary & Miller, marine architects and engineers, described the proposed improvements using wall maps depicting: 1) the Conceptual Maritime Master Plan overview of the Port; 2) Geological Survey; 3) details of improvements of Wharf #3. Bill Service, Harbor Engineer, stated that the Bay Conservation and Development Commission (BCDC) prefers that there be no mix of public and working parking arrangements and have asked the Port to reapply later for separate consideration of each type. Discussion followed and Mr. Dodge, Mr. Vickerman and Mr. Schricker replied to questions and commented concerning the size of vessels to be using the wharf; whether there will be public access at all time; the need to secure the Port area; the obligation to protect the public in the event of handling of such items as fuel and scrap; the need to protect the property of Port tenants; and the landscaped area and parking for public use. Bill Madison, Jones, Hall, Hill & White, attorneys, explained the position of the City Council with regard to the federal requirements for approval of the financing plan as an elected body and stated that the Pbrt has the legal ability to pledge revenue in surplus funds. Mr. Madison said that it is believed that the installment payment agreement to pay from surplus funds would be protected regardless of possible voter approval of a pending initiative measure. James Culver, First Municipal Leasing Corporation, described the financing arrangements, stating that the single investor is a large insurance company familiar with the Port, who is taking the risk that there will be sufficient surplus revenue to meet payments. Mr. Dodge also distributed photographs of the present Wharf #3 indicating the poor condition of pilings. In response to question, Mr. Schricker stated that Levin Metals now has a nonexclusive preferential right to use the wharf and will not be disturbed during construction. Mr. Vickerman reported that the Port site has been designated by both BCDC and MTC for "near term" development for bulk terminals and has one of the highest priorities for that use. Mayor Britschgi invited anyone else present who wished to speak to do so. No one wished to speak. M /S: Bury /Chandler to close the public hearing. Carried unanimously by voice vote and public hearing closed at 8:25 p.m. City Attorney Schricker said that modifications will have to be made to the proposed resolution in order to refer specifically to use of the Port by Levin Metals to meet Internal Revenue Code requirements. MEMO 7/12/84 Reg.Mtg. 7/2/84 Page 3 MINUTE BOOK NO. 45 Page No. 79