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. PORT OF REOWOOD ~lh San Francisco Boy Page 2 675 Seaport Boulevard Redwood City, Colifoml'J.!:24O:'J:t.9~r 650306 4750 FAX 650 369 7636 [-mall: portofrc@redwoodcltyport.COII j MEMORANDUM DATE: April 20, 2006 APR 2 0 2006 TO: Mayor Barbara Pierce and City Council FROM: Larry Aikins, Chairman of Port Commission (~t'T";/ SUBJ: Future Funding for Ferry Service Recently Councilwoman Diane Howard requested information from the San Francisco Bay Water Transit Authority (WT A) regarding the funding of future ferry service in Redwood City. The Port had an opportunity to review this information in the context of the Port taking the lead on ferry service for Redwood City as described in my memo to you of March 22nd. Although we have not gone into a detailed analysis of the cost of ferry service with the WTA, several things are clear. In the short term, over the next 2-3 years, the Port will take the lead, in cooperation with the WTA, on planning a terminal location and undertaking an environmental review. The planning effort is estimated to cost $200,000-$300,000 and it will be funded by the Port and WT A. The environmental studies, including the preparation of an EIR/EIS, are estimated to cost $ I -million. The Port will work closely with WT A in preparation of these documents, and assuming the WT A is the lead agency for the EIR/EIS, the majority of the cost will come from sources of funding available to WT A. The impact on the Port's finances by undertaking the ShOli term planning and environmental studies will not be significant and will not affect subvention payments by the Port to the City. In the long term, increased capital investments will be required for water transit services, including the construction of a ferry terminal and the purchase of new ferry boats. Tenninal construction and two 149-passenger fast ferries are estimated to cost in the range of $20-$24 million. Funding for these capital investments will come from a variety of regional, state, and federal sources. Some of these sources have been identified, such as the renewed San Mateo County t~ Sales Tax for transportation projects, which goes into effect in 2008. Other specific sources have yet to be identified but are expected to become available in the future. As part ofthe Port's role in taking the lead on implementing new ferry service, we will do what is necessary to be in a state of readiness to access these funding sources. In conclusion, the primary Port resources that will be used for developing ferry service, both in the short tenn and in the long term, will involve staff resources and the possible contribution of land and water areas at the Port. Hopefully, this clarifies any questions that may have been raised concerning the financial impacts on the Port when taking the lead on ferry service in Redwood City. If you or your fellow members of the City Council need any further information, please do not hesitate to contact us. Port Commissioners Larry R. Aikins Jack Castle Richard "Dick- Dodge Ralph A. Garcia, Jr. Lewis D. Miller