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RFP_Port of Dubuque Marina Startup and Operation Consultant ServicesMasterpiece on the Mississippi Dubuque kital All- America City II 111! 2012 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Marina Startup and Operation Consultant Services RFP Recommendation DATE: April 10, 2013 Three proposals were received in response to a Request for Proposal for Marina Startup and Operation Consultant Services. Leisure Services Manager Marie Ware and the RFP Review Committee recommend City Council approval of the selection of Westrec Marinas for startup and operation consultant services in the amount of $25,000. This is an unbudgeted item that will be paid for by savings from Leisure Services full time staffing vacancies. I concur with the recommendation and respectfully request Mayor and City Council approval. kri,„ Michael C. Van Milligen MCVM:jh Attachment cc: Barry Lindahl, City Attorney Cindy Steinhauser, Assistant City Manager Teri Goodmann, Assistant City Manager Marie Ware, Leisure Services Manager Masterpiece on the Mississippi TO: FROM: SUBJECT: DATE: I hibuqu, Extol .1P#MtIO CPI '1112 Michael C. Van Milligen, City Manager Marie Ware, Leisure Services Manager Marina Startup and Operation Consultant Services RFP Recommendation April 10, 2013 INTRODUCTION The purpose of this memorandum is to request approval of the RFP Committee's recommendation for marina startup and operation consultant services. BACKGROUND The RFP Committee included: M arse Ware ............................... Steve Fehsal ............................ Dan Kroger ............................... Bob Schiesl .............................. Ken TeKippe ............................ Dan Brown ............................... Rick Dickinson .......................... DISCUSSION Proposals received were asfollows: .... Leisure Services Manager Park Division Manager Recreation Division M anager Assistant City Engineer Finance Manager .... Fire Chief .... Greater Dubuque Development Lunde Williams, Fitchburg, WI $ 33,000 plus trawl reimbursement Marina's International, Dallas, TX Option 1: Consulting on per hour bass plus $15,000; one- time setup fee + softvLare license $12,000 - $18,000 Opliun 2: Mai lay ant Ajrumn ant 12 months - $6 ,50011n onth or 6% gross revenue, whichever Is greater plus $10,000 setup fee Westrer.. Marinas, Chir•.agn, II $75Jlftft The committee reviewed the three proposals it received. After review of the proposals and their fees the committee recommends Westrec Marinas of Chicago, Illinois to provide marina startup and operation consultant services. The recommendation is based on the following: • They are well qualified for the services requested. • Westrec Marinas has strong experience in successful marina operations, especially with the Chicago Park District but also across the country. • The Scope of Services outlined meets the RFP and provides services needed. • Experts within their company to assist with marketing, IT and systems setup, store setup, customer service, operations, administration, and financial management. The committee is confident Westrec Marinas will bring the expertise necessary to assist with startup and operations in this first critical year of operations. BUDGET IMPACT This is an unbudgeted item that will be paid for by savings from Leisure Services full time staffing vacancies. Budget Director Jenny Larson approves of this funding source. ACTION STEP The action requested is your approval of the selection of Westrec Marinas for startup and operation consultant services. MLW:et attachment — Westrec Marinas Proposal 2 ;�1 Westrec Marinas Qualifications Work with the Chicago Park District (a) For the past 16 years, Westrec has managed the 10 lakefront harborsthat make up the Chicago Park District Harbor System. We can provide multiple references from the Park District and other municipal agencies. Notaby, Alonzo Williams is the Director of Revenue and can be reached at (312) 742 -4641. The General Superintendent and CEO of the CPD is Michael Kelly and he can be reached at (312) 742 -4200. (b) We do not intend to use sub - consulting firms at this time. (c) We operate (4) convenience stores in the Chicago Harbors and provide both boating related products and convenience items. We typicaly purchase our boating supplies through Port Supply and our convenience and beverage productsthrough a variety of vendors. (d) We operate (4) fuel docks in the Chicago Harbors and are familiar with all aspects of that business. We typically sell our fuel with a fuel additive, Valvtect, for both diesel and gasoline. (e) We will satisfy the scope of services by the following: a. Key Staff will visit the marina i. E nz a Montano — Marketing Strategy H. Jay Korn— IT and Systems Setup Hi. Gina Rodrigues — Store Setup iv. Scott Stevenson — Personnel structure, hiring and supervision, pricing, etc. b. Once a manager has been chosen by the City of Dubuque, we will train that manager in Chicago at 3V Street and compile the systems necessary to open the marina. c. Supply staff in the days prior to opening to trouble shoot systems and to train staff. NAT u Westrec Marinas Pridng Proposal I We propose a fee of $25,000, billed at a rate of $5,000 per month, starting on April 1, 2013 which would cover the following: 1. Staffing plan 2. Startup of fuel dock operations, including inventory control, hours of operation, pricing and emergency procedures. 3. Startup and stocking of ship's store, including items to stock, store hours and procedures. 4. Recommendations fora reservation system and management of transient docking, including rates and procedures for transient docking. 5. Recomrnendation for marketing, including web site hosting, social media and advertising. 6. Recommendations for cash control procedures and an initial expense budget. 7. Training of manager assigned by City of Dubuque. 8. Monthly visits of the marina from April- August, by Westrec personnel to troubleshoot and improve the operations. Westrec Marinas 541 N Fairbanks, #1020 Chicago, IL 60611 312.742.8520 • Fax 312.747.6598 www.chicagoharbors.info April 9, 2013 Ms. Marie Ware City of Dubuque City Hall, 50 W 13th Street Dubuque, lowa 52001 Subject: Port of Dubuque Marina, Letter of Transmittal Dear Marie: Attached please find our proposal in response to your RFP for Marina Startup and Operation Consultant Services, dated March 28, 2013. We have read the RFP and visited the marina and can provide the services outlined in the RFP. Specifically, will provide the following services: 1. Staffing plan 2. Startup of fuel dock operations, including inventory control, hours of operation, pricing and emergency procedures. 3. Startup and stocking of ship's store, including items to stock, store hours and procedures. 4. Recommendations for a reservation system and management of transient docking, including rates and procedures for transient docking. 5. Recommendation for marketing, including web site hosting, social media and advertising. 6. Recommendations for cash control procedures and an initial expense budget. 7. Training of manager assigned by City of Dubuque. 8. Monthly visits of the marina from April- August, by Westrec personnel to troubleshoot and improve the operations. Please contact me with any questions or comments. In addition to the numbers listed above, please call me on my mobile at (312) 446 -6055. Sincerely, C. Scott Stevenson Executive Vice President Westrec Marina Management, Inc. V w cL H c.) w 3 MARINAS Navigating the good hje WESTREC BACKGROUND Founded by Michael M. Sachs in 1987, Westrec Marinas was created as a sister company of Public Storage, Inc., the nation's largest developer and operator of mini - warehouse facilities. At the time, Mr. Sachs was Executive Vice President, Director and General Counsel of Public Storage, Inc. Westrec Marinas was formed to capitalize on the existing shortage of boat slips in the face of continued growth in the number of recreational boats registered. Today, Westrec operates over $300 million in marina facilities across the United States. In June 1990, Mr. Sachs purchased the controlling interest in Westrec, becoming Westrec's principal shareholder and Chief Executive Officer. Since that time, Westrec has focused its property and marina management skills on further refining operating efficiencies, as well as expanding the base of operations through third party management contracts for marina facilities. Westrec has been extremely successful in creating public /private partnerships with government authorities, which transfer management and operational control to Westrec. A brief overview of the many types of private and public - private partnership marina facilities that Westrec is involved in is discussed in the following sections. Westrec not only operates marinas, the company also performs various other functions in the marina industry such as consulting, design, development and construction. Under the direction of its President, William Anderson, Westrec has assisted in the design, construction and renovation of over 100 marina properties. The consistent principle that Westrec has maintained in every one of these efforts has been to design facilities that focus on operations, with the goal of meeting and exceeding the wants and needs of the community. This fundamental concern for the needs of both the boating and non - boating community is reflected in the end marina product and has made Westrec a standard bearer in the industry. Westrec Marina Management, Inc. is the largest marina services company in the nation and currently operates in over 25 marina facilities throughout the United States. Areas of operation include California, Arizona, Nevada, Florida, Georgia and Illinois. Collectively, Westrec manages properties comprised of more than 12,000 wet and dry storage spaces, making Westrec, by far, the largest and most diverse operator of marinas in the world. Westrec has over 500 qualified employees, who represent a wide spectrum of marine knowledge and who provide the best possible delivery of services to our customers. Effective management and facilities operations have become the hallmarks of Westrec Marinas and Westrec's team has developed dedicated programs and systems that are tuned for success. Every Westrec marina and affiliate has the resources of a regional office and corporate division, available to respond to the various issues and challenges that arise in daily operational life. Westrec's highly trained and experienced staff provides expertise in all aspects of marina operation including: accounting and reporting, legal support, human resource management, construction, maintenance, environmental issues, risk management, and marketing and advertising. Due to the size of the Westrec portfolio, economies of scale can be achieved on these operational functions. Through the sharing of these resources across the entire Westrec portfolio, cost savings of up to 80% are possible when compared to the expenditures incurred by individuals who operate single marinas utilizing these same programs and services. 2 QUALIFICATIONS AND EXPERIENCE Due to the size and diversity of its operations, Westrec has been able to assemble a comprehensive program for property management that is unmatched in the marina industry. Westrec's portfolio includes small marinas on freshwater lakes as well as large salt -water facilities; they include facilities with campgrounds and sites with full -scale resorts; marinas exclusively for slips in the water and others that offer dry stack storage only. Ancillary business facilities found within the Westrec portfolio are just as diverse and include: restaurants and bars, banquet facilities, hotels and lodging, ships stores and other retail establishments, deli operations, waterfront office space, fuel docks, launch ramps, and boat rentals among others. Westrec also operates boat repair facilities that range from do- it- yourself yards to full service marine repair operations for vessels up to 100 feet in length. Westrec is an industry leader in continually experimenting and expanding the products and services offered at the marina level, thereby increasing a marina's economic performance. Westrec has successfully integrated a number of programs that expand boating usage such as boat leasing, boat finance, boat rentals, regattas, tournaments and cruises. Westrec is also widely recognized for its numerous special events that attract boaters and non - boaters alike. Westrec promotes and supports eco- tourism, skin diving, snorkeling, wildlife tours, dinner cruises and other exciting elements for non - boaters at its marinas. Despite the differences of the individual properties in the portfolio, Westrec operates each facility with a consistent and uniform approach and philosophy. This philosophy is epitomized in our "Westrec Way" of doing business. The "Westrec Way" includes a highly intensive training program that encourages excellence in customer interaction. Westrec's devotion to providing each and every patron with exceptionally high levels of customer service is a common theme that permeates every marina which Westrec operates. The Westrec portfolio also consists of some of the most meticulously maintained and cared for marinas in the country. Not only are the marinas clean, but also the manner in which they are operated keeps surrounding ecosystems healthy and vibrant. In fact, in 1996, Westrec was awarded the first environmental award given to a marina industry company from the EPA, for our "Best Practices" in operation and maintenance of marinas. The daily pursuit of providing excellence in customer service to all tenants and guests has continually shaped and honed the company's strategic vision. Focusing on the service side of the marina industry, Westrec is the most comprehensive and authoritative source of marina operating information in the business. As a result, Westrec has a wealth of operating expertise n 3 the economically diverse environments that make up a marina. This expertise allows Westrec a significant competitive advantage over other marina operators. The operational information that has been compiled since the company was founded has allowed Westrec to operate its marina portfolio in the most profitable and efficient manner possible. Experience and data collection are just a few of the reasons why Westrec and its staff have been sought after by hundreds of marina operators to provide consulting services for facilities of various sizes, types and usages. Westrec is well recognized in the marina industry for its leadership roles in management training programs, operating practices, customer service training programs and innovative marketing techniques. Westrec is poised to continue its fast growth by continuing to abide by our corporate philosophy: To provide boaters with the best ever marina experience possible, while also preserving our precious natural resources for future generations to enjoy. Comparable Experience and Contacts Westrec's marina portfolio is an incredibly diverse and unique mix of properties that serves a wide variety of boating customers. These properties provide a wide array of services at each specific marina site. Here are some insights into our diversity: • Westrec's largest marina has 1,300 slips, the smallest has 20 slips. • Properties vary from year -round to seasonal wet storage. • Facilities include destination ocean resorts and rural campgrounds. • Westrec manages public launch ramps and complicated dry stack operations. • Westrec operates in coastal salt water and land - locked fresh water locations. • Westrec customers own sailboats and powerboats, 200' yachts and 18' runabouts. • National contracts, seasonal accommodations, and daily slip rentals are offered. • Marinas range from full service to storage -only facilities. • Westrec manages government owned as well as privately owned marinas. Westrec has extensive experience with recreational markets, including power boaters, PWC enthusiasts, sailors, anglers, and water skiers. In addition, Westrec and its staff have promoted, sponsored, hosted and marketed many events that cater to the boating public as well as communities surrounding the marina facility. Many of the events that Westrec is involved with have charitable and altruistic value as well, raising money for charities, sponsorships and special programs for the underprivileged. 4 Westrec's Public- Private Partnerships Westrec has successfully partnered with a variety of govemment and regulatory agencies to create marinas that provide public revenues, increase services, expand usage, and most importantly, increase the enjoyment and participation levels of the boating public. Westrec has partnered with over twenty such agencies across the U.S., including the Chicago Park District, Miami -Dade County, Florida, U.S. Army Corps of Engineers, as well as the Port Authority of Jamaica, and many others. Westrec was recognized for its highly successful partnership with the Chicago Park District and was honored by receiving the American Recreation Coalition's "Partners for American Outdoors" award. Westrec is very proud of its achievements in the area of Public - Private Partnerships. These relationships are the direct result of the company's philosophy. Westrec has operated numerous marinas where a government agency has had ownership rights to some portion of the marina, such as water or land rights. Some marinas in the Westrec portfolio, however, represent facilities that are 100% owned by a government agency and have required a unique approach upon the part of Westrec. In all of the cases where Westrec operates public facilities, the company has been selected through an extensive RFP process where multiple bidders have participated. Governmental Agencies While many parties choose not to involve themselves with facilities that involve government authorities and agencies, Westrec has openly sought out such partners. Government agencies and authorities that Westrec has successfully worked with include the following: • Army Corps of Engineers • Chicago Park District • City of Dania Beach, Florida • City of Fernandina Beach, Florida • City of Miami, Florida • City of New Orleans, Louisiana • County of Miami -Dade, Florida • County of Hall, Georgia • Puyallup Indian Tribe, Washington .U.S. Forest Service 5 THE WESTREC PORTFOLIO Chicago Park District Marinas, Chicago, Illinois, Introduction Fifteen years after privatizing its eight harbors along the Chicago lakefront, the Chicago Park District is reaping the benefits of an innovative approach to managing its harbors. This is possible because of its public - private partnership with Westrec Marinas, its harbor operator. The benefits are improved boating facilities and public amenities, improved operations and dramatically improved financial performance. This success has led the Park District to expand its harbor system, with the construction of two new harbors totaling $170 million, financed by revenue bonds. The harbor success story is one that other municipalities can emulate to tum problems into gems. The Harbor System The Chicago Park District's harbors stretch from Lincoln Park in the northern part of the city to Jackson Park on the south. These harbors, constructed in the early part of the 20th century, accommodate approximately 5,000 boats in a variety of berthing facilities including slips, moorings, star docks and dry mooring spaces. These harbors are unique when compared to commercial marinas because they are set in the public parks and do not include many of the commercial, retail and storage components found in other marinas. Prior to privatization, Park District personnel operated the harbors. These harbor employees were not trained to provide anything but rudimentary services to the customer and were viewed more as harbor enforcers than service providers. Harbor facilities had not been improved for many years. Some of the docks in the harbor system were as much as 60 years old and most of harbors were not designed to provide public access to the waterfront. Finally, there were significant complaints from boating groups about security and maintenance. Privatization The Chicago Park District, under the direction of Mayor Richard M. Daley, advertised an RFP for the management of harbors in 1994. Instead of advertising a long -term net lease for the harbors, a common approach in the privatization of marinas, the Park District chose a management structure under which all of the revenue and income for the harbors would accrue to the Park District, with management fees paid to the operator. After an exhaustive analysis, the Park District chose Westrec Marinas of Encino, California to manage the harbors. Westrec is the nation's largest owner and operator of marinas. Compensation to Westrec was based on a reasonable fixed monthly fee, plus an incentive for improved performance. 6 In 1995, the Park District entered an initial five -year management contract with Westrec Marinas to manage and improve the Chicago harbors (Westrec has been awarded the harbor contract each time the contract has been advertised since 1995). The improvements to harbor operations began almost immediately. Westrec chose to retain approximately 75% of the existing harbor staff and set out to retrain and improve the skills of the management personnel. In addition, Westrec instituted specialized financial controls, computer systems and safety programs in the harbors. Finally, Westrec redesigned the harbors and supervised the construction of over 3,500 new slips and numerous other harbor improvements, totaling $60 million dollars. perspective, the success can be seen The results of this privatization effort have been dramatic. Facilities, which had not been improved for decades, have been revitalized and beautified. Customer satisfaction and community relations are at all -time highs. The public spaces around the harbors have been dramatically improved and complaints about maintenance and security have been reduced significantly. From a boating in the waiting list of more than 1000 boaters trying to get slips in the harbors, at a time when other profit centers are struggling. Financial Improvements Perhaps the biggest change had been in the Park District's financial return from the harbors. In 1995 when the Park District operated the harbors, the total revenue was about $5 million, but operating costs ate up all of the revenue and the Park District was lucky to break even on the harbors. Since privatizing the harbors, harbor revenues have increased from $5 million to over $22 million. More importantly, income from the harbors has increased from zero to over $13 million per year. This has directly benefited the taxpayers in Chicago. Not only have the harbors been improved, but privatization has helped the Park District avoid tax increases at a time when municipalities are raising them. 7 New Harbors The financial and operational success of the harbors has given the Park District the confidence to undertake the construction of two new harbors and additional improvements to the existing harbors. Construction began a few weeks ago on 31st Street Harbor, a new $100 million dollar marina with 1,000 boat slips and will soon start work on a $70 million dollar, 300 slip marina at Navy Pier, called Gateway Harbor. These projects are proceeding, despite the current economic challenges, as there is a deep demand for slips and because of the financial success of existing harbors. In these days of budget deficits, the projects are not a drag on taxpayers as they are financed with alternate revenue bonds, relying only on harbor revenue for repayment. The Ftdur The success of the harbors since privatization has been more dramatic than anyone expected. Actual financial performance far outshined the financial projections. Boaters and public users of the lakefront enjoyed better facilities and more pleasant surroundings. The unique public - private partnership between the Chicago Park District and Westrec that was created 15 years ago, continues on today and will continue to benefit all parties for years to come. This model has been extended to skating rinks. Westrec now operates 9 outdoor ice skating rinks in the City for the Chicago Park District. 8 Cabrillo Way Marina, San Pedro, California Cabrillo Way Marina is located in Southern California. The Port of Los Angeles is conducting a two -phase revitalization project which will provide tenants with numerous amenities when it is completed in 2011. The project includes 40 acres of waterside improvements and 40 acres of landside development. An approximate 2.4 acres of new water space will be created, increasing the slip count of the marina from 520 to 700. A new slip mix will also be offered with the rebuild, allowing boats from 28 to 130 feet in length. The needed rebuild will provide each slip tenant with water and power hookups, as well as improved amenities on shore. Additional parking will be available, along with restrooms open to the public walking along the promenade. There will be approximately 90,000 square feet available for development opportunities. Upon completion Cabrillo Way Marina will be one of the premier marinas on the west coast. Westrec has leased and operated the old Marina since 1998 and is currently managing the marina for the Port of Los Angeles under a 9 -month agreement which expires on March 31, 2011. 9 Downtown Stockton Marina, Stockton, California The new Downtown Stockton Marina sits on the Delta in the heart of the City of Stockton next to historical Warehouse building, and adjacent to beautiful Weber Point, the arena and the Stockton Ports baseball field. The City completed the development of the Marina in the fall of 2009 as part of the Stockton Revitalization plan. Westrec was selected to operate the City's Marina and Morelli Park Boat launch after an extensive RFP process that was conducted prior to the facilities completion. the The marina is visually stunning with shaded canopies that soar over the slips. There are 48 shaded 50' berths and 18 open slips accommodating those yachts from sixty feet to eighty feet in length. There are two guest docks totaling 1,400 linear feet along the promenade that meanders through Weber Point Park. The guest docks are popular with both individual boaters and yacht clubs that spend the weekend attending events well within walking distance in Stockton. With a mild climate year round and, as a port in the California Delta river system, there are numerous waterways adjacent just waiting to be explored. In its first year of operation, the Downtown Stockton Marina has hosted Wine on the Waterfront, the Asparagus Festival, and local yacht clubs for New Year's Eve celebrations. It is also a prime location for marina guests and the local community to view the Delta Christmas Parade. In addition, to managing the Marina and the Morelli Park Boat Launch for the City, Westrec will operate the Morelli Park Dry Stack Storage presently under construction which is expected to be completed in late 2010. This new dry stack storage will accommodate 136 boats up to 30' in a fully enclosed building. Westrec has a five year agreement with the City and participates in all aspects of the property's management, operations, and maintenance and presently has a staff of four full time employees. 10 Tower Park Marina, Lodi, California Tower Park Marina is located on California's Sacramento Delta. Tower Park features 350 open and covered slips as well as RV campsites for vacationers. This facility offers a wide variety of wet and dry storage usages for both large and small boats. Providing access to the vast array of waterways on the inland Delta, this marina offers its tenants boat repair, fuel, boating supplies, a restaurant and boat rentals. Tower Park is in the process of a total marina renovation. Landside facilities including the restaurant, the nightclub and the store have all been remodeled to give them a fresh new look and the aged launch ramp has been completely replaced. The current phase of construction involves the renovation of all of the covered and open slips in the marina. Even with all these changes going on, Westrec has strived to maintain the agricultural heritage of the area in its Cannery Row style design and architecture. Tower Park hosts many events that draw in the local community. One such event, Tower Park's annual Delta Fest celebration, attracts over 15,000 visitors to the site, many of whom come back year after year. Other attractions include the Rockin' on the River concert, boat shows and water sports events. 2017). Westrec maintenance Westrec was acquired Tower Park in February 1988 and invested an additional $3,900,000 in improvements. In March 2007, Westrec sold the property and entered into an agreement with the buyer Kampgrounds of America, Inc. (KOA) to lease the marina portion of the property for 10 years (lease will expire in participated in all aspects of the property's management, operations, and capital improvements construction since 1988, and presently has a staff of 11 full time employees. Westrec continues to manage and operate the marina portion of the property and its renovation. 11 Kina -relanrl Rnenrt Stockton, California King Island Resort is loc Joaquin waterway, just 1 conditions coupled with destination for water skie ated at Honker Cut and Disappointment Slough in the heart of the San 5 minutes north of downtown Stockton. A mild climate and good water the Delta's vast open waterways make this an excellent year round rs, PWC enthusiasts and fishermen. This marina consists of 296 covered and open slips for vessels to 66' with accommodations for dry storage and trailer storage as well. The facility includes a 24 -hour launch, large guest docks, fuel dock, general store, and boat repair. King Island is the jumping off point on the Delta for the prestigious St Francis Yacht Club out of San Francisco. Members of the club are ferried to Tinsley Island, their weekend getaway on the Delta. King Island Resort continues to attract visitors through effective marketing programs. Boat shows and special events such as the Christmas boat parade are held at the resort throughout the year and attract many new as well as repeat visitors. Westrec acquired this property in November 1988. Since that time Westrec has been fully involved in all aspects of the facilities growth and development and has invested an additional $1,900,000 over the last twenty years. We presently have a full time staff of 7 and continue to own and operate this facility. 12 Lake Las Vegas Marina, Henderson, Nevada Located just ten miles from the Las Vegas Strip, the Lake Las Vegas Marina promises to be a favorite among resort vacationers. Westrec through Lake Las Vegas Marina, LLC, a Delaware LLC started this project in 2000 and to date $3,420,000 has been invested. A multi - billion dollar development that is still a work in progress, the Lake Las Vegas Resort will ultimately consist of 3,000 to 5,000 homes as well as 5 large five -star hotels complete with casinos. Retail outlets, tournament grade golf courses and other recreational components will ultimately round out this resort facility. Westrec partnered with the developer of the resort, Trans - Continental Corporation, to construct and operate the many marinas that are to be constructed at the resort. These marina facilities will be constructed in multiple phases and at different locations around the lake with each marina ultimately consisting of over 100 slips and each having its own landside improvements. In 2000, the first phase of marina construction was completed with 52 slips being built. With 6 full time employees, other amenities at this site include a launch ramp and a lighthouse store featuring gifts, sundries, marine hardware and bait and tackle. Westrec provides resort guests with recreational equipment available for rent on the lake on a year round basis. These rentals include electric boats, sailboats, windsurfers, kayaks, canoes, pedal boats and others. Fishing also promises to be a popular past time for anglers at the Lake Las Vegas Resort, as the lake is teeming with largemouth bass and trout. Westrec continues to participate in the on -going development and operations of the marinas at this resort. 13 Canyon Lake, Apache Junction, Arizona Canyon Lake Marina is located less than an hour's drive from Phoenix, in close proximity to Scottsdale and Tucson. The marina itself features 283 covered and open slips, 98 dry storage spaces, a launch ramp, a fuel dock and pump -out station and many other amenities. Westrec acquired the property in October 1987. Presently the marina has a staff of 14. When Westrec took over the marina it was in poor financial straits. Another success story, under Westrec's direction and management, revenues increased dramatically. Since the purchase of this marina, more than $4,250,000 has been invested into the facility because of Westrec's philosophy that well maintained facilities attract customers and keep them coming back. Whether you're into camping, boating or just relaxing and taking in the beautiful scenery, Canyon Lake is the place to be. Canyon Lake has more than 28 miles of unspoiled cactus dotted shoreline and local weather conditions make the marina a destination spot year round. Everything needed for a pleasant stay at Canyon Lake is made available for guests to experience. Vacationers can bring a boat or rent one to enjoy a leisurely lake cruise or to find a secluded cove to drop a line for exciting bass and trout angling. Visitors can also bring along the RV, or just a tent, for an overnight stay at the campground. Relax, sunbathe and swim at the beautiful Laguna Beach or pack a lunch and enjoy one of Canyon Lake's scenic picnic areas. Part of Canyon Lake Marina's charm and success is that the facility strives to feature something for everyone in the family. Restaurants and retail stores round out the marina and conveniently serve our guests. Westrec continues to own and manage this property, its on ongoing development, construction, capital improvements and the operations of all aspects of the facility. 14 Fernandina Harbor Marina, Fernandina Beach, Amelia Island, Florida Westrec was selected by the City of Fernandina Beach through an extensive RFQ and RFP process in 2009 for the management and operation of this municipal owned marina located in the heart of the City, and assumed its fulltime operation in January 2010. Located at mile 716, Fernandina Harbor Marina was the first marina built on the Intracoastal Waterway (ICW) in Florida. It is located in Fernandina Beach's Downtown Historic District (which is on the National Register of Historic Places) where wide brick streets are lined with lanterns and boast many fine shops and restaurants. Officially designated as an historic "Preserve America" community, Fernandina Beach is a city of beauty, culture and diversity. Westrec oversees all aspects of this historic marina and is committed to providing seafaring visitors a welcoming port while those touring the restored seaport community will marvel at the vessels the marina and town attract. The Fernandina Harbor Marina has undergone a complete modernization over the past few years, part of the community's Waterfront Master Plan. The 6.2 million dollar renovation included 65,000 cubic yards of dredging (in 2006 and 2009) providing ample draft for large vessels, new docks, bathhouse with laundry and showers, electrical and potable water amenities, fire suppression services and complete landscaping. The Marina has 5,875 linear feet of dockage which provides 60 lineal side -tie "slips" and 20 moorings, a 25' depth at mean low water beyond the attenuator and 6' at inside slips allows yachts (up to 200') and boats of all sizes to take advantage of the most modern of marinas while enjoying the amenities the community offers. The Jacksonville International Airport is 35 minutes away and golf, tennis and the beach are adjacent to the property. The marina welcomes local boaters and transient yachtsmen as well as fishing, sailing and sightseeing charters, and ferries. In addition to wet slips, the marina also includes space for 30 boats with trailers and is open from sunrise to sunset seven days a week. A full -time staff of eight ensures smooth operations for all marina guests and slip holders. The City of Fernandina Beach and Amelia Island, have ranked in the top 10 destinations in Conde Nast's Traveler's Readers' Choice Awards for three years running. In May 2010, Westrec invested $55,000 in the development, construction, and installation of a retail convenience store directly on the fuel dock. This provides boaters and guests with a choice of a variety of sundry items, groceries, apparel or marine items just steps from their boat. 15 r 1987. Hall of Fame Ma nna, run Laudu ed ale Florida The Hall of Fame Marina is located in Fort Lauderdale, Florida and was acquired by Westrec Marinas in Decembe Hall of Fame Marin most well -known an Intracoastal than just a marina; it pleasures of life on Florida. Guests c boating, reef diving this location as wel finest. a has 43 slips and is one of the nd highly desired marinas on the Waterway. This facility is more s a gateway to the vast and varied the beautiful southern coast of an experience some of the finest and sport fishing in the world at as dining and shopping at their Providing slip spaces for the largest and most selective mega - yachts in the world, Hall of Fame offers dockage for vessels in the 80 to 120 -foot range. These super luxury yachts usually stay for a few months at a time before they cruise on to other international ports of call. With a staff of five, Westrec provides these boaters with superior customer service and a variety of concierge services that keep them coming back year after year. Since acquiring the facility, to date an additional $1,925,000 has been invested by Westrec in the property. Westrec continues to participate 100% in the development, construction, capital improvements and all aspects of management and operations for this marina. 16 Harbour Towne Marina, Fort Lauderdale, Florida Harbour Towne Marina in Fort Lauderdale is one of the most notable marinas in all of South Florida and is widely recognized as a model of efficiency and effective marina design. The facility encompasses 156 wet slips and nearly 687 dry stack spaces. In this marina, wet slips generally offer space for vessels 40 -ft to 200 -ft in length and the dry stack services boats in the 20 -ft to 50 -ft range. Besides the variety of storage options and boat services, the facility also includes 80,000 square feet of office and retail space available to a variety of businesses. These include boat maintenance and services, boat financiers, yacht and shipbrokers, various retailers, and insurance professionals among others. By combining all of these elements in one facility, Westrec can meet the needs of most boaters. Most of these businesses are interrelated and are economically dependent upon one another. This unique feature insures that boaters receive the highest level of service and tenant businesses reach their potential. Westrec's Harbour Towne Associates, a California General Partnership, acquired this property in December 1988 and to date in excess of $14,000,000 has been invested. Since 1989, the financial performance of this site increased dramatically as the bottom line has grown by more than 1,000°A within the last nineteen years. These results have been achieved through creative design and land use planning, effective communication with tenants, attention to detail and high levels of customer service to address their needs. A portion of the property which includes the facilities public launch ramps is on a long term lease expiring August 31st, 2040 with the City of Dania Beach. These four launch ramps operated by Westrec are available to the public for vessel launches 24 hours a day 365 days a year. Westrec collects the fees and maintains the ramps, the City receives a percentage of this income. Although these ramps are located in a private marina, almost 4,800 boaters utilized these ramps in 2008. 17 For the last five years Westrec has been focused on the design and development of a new dry storage building at Harbour Towne. The new dry -stack project at the marina is the first new commercial marina facility permitted in Broward County since 2004. For some four years, Broward County (where the marina is located) enforced a moratorium on new commercial boat slips, pending the adoption of the Broward County Boating Facility Siting Plan, which is part of the County's Manatee Protection Plan mandated by the State of Florida. The new 156 -slip dry -stack project is a state -of -the -art, environmentally friendly facility and can accommodate recreational boats up to 50 feet in length. Westrec had put together a development team utilizing local businesses to facilitate the building's construction. Companies that were involved since the projects conception include, Shutts & Bowen LLP (leaders in environmental and land use issues), an environmental consulting firm, The Chappell Group, Craven & Thompson, environmental engineers, and Paramount Engineering. For two years, Westrec and the development team worked with officials from Broward County, the City of Dania Beach, the South Florida Water Management District and the U.S. Army Corps of Engineers to process the necessary permits for the project. Westrec broke ground on the project in October 2008 and building was fully completed and operational by July 2009. With a staff of 43, Westrec continues to participate 100% in the development, construction, capital improvements and all aspects of management and operations for this 33 -acre marina. 18 The Dania Beach Marina, Dania Beach, Florida Westrec was selected by the City of Dania Beach through a comprehensive RFP process in early 2010 for the management and operation of this municipal marina located directly on the IntraCoastal Waterway, oceanside on Dania Beach The latest addition to the Westrec portfolio, Westrec assumed operation of the facility on October 1st 2010. The Marina is adjacent to John U. Lloyd State Park, and opposite Dania Beach Ocean Park and the Dania Beach Pier. Just minutes to Fort Lauderdale International Airport, the facility is just south of Port Everglades inlet. Formerly known as the SeaFair Marina, the facility was originally developed as part of a dining and entertainment complex built by a private company in the early 1980's. Today the building complex is now Sea Tech, the Institute for Ocean and Systems Engineering College of Florida Atlantic University. Westrec will provide interim management of the City's marina facility and then oversee the construction and complete renovation of this 92 slip marina expected to commence in late 2012. Tentative plans for the redevelopment of the marina include engineering, permitting, demolition, and construction of all docks, pilings and seawalls, as well as dredging 19 Sunrise Harbor Marina, Fort Lauderdale, Florida Sunrise Harbor is a luxurious residential community for those who insist on the best. This exclusive, upscale property is comprised of a full- service mega -yacht marina, 352 rental apartments, 17 guest suites and an assortment of retail outlets. As a winter home port, Ft. Lauderdale offers tranquil tropical weather, golden sand beaches, award - winning restaurants, leisure activities and entertainment second to none. With over 300 miles of inland waterways and more yacht services than anywhere else in the world, Ft. Lauderdale the World." s appropriately titled "The Yachting Capital of Sunrise Harbor proudly lives up to this tradition offering the anchorage and luxurious amenities that the mega -yacht market has come to expect and rely upon. Whether you join us for the season or if you're just passing through, you'll fall in love with Sunrise Harbor. The exclusive mega -yacht facility is located on the Intracoastal Waterway at Sunrise Boulevard. The 850,000 square foot development includes two 16 -story towers holding 352 rental apartments, 7,000 square feet of retail frontage, and six story parking garage located on eight acres surrounding the Marina. Amenities for the Marina include a controlled- access garage, 24 -hour valet parking, concierge service, climate - controlled wine room, health and fitness center, spa, tennis courts, and two heated pools. The private 22 -slip marina has 2,500 feet of parallel dockage accommodating yachts up to 180 feet in length, and is constructed of heavy concrete floating docks. The facility is directly across the Intracoastal Bridge from beautiful Fort Lauderdale Beach, adjacent to the chic Galleria Mall, and within walking distance to first class restaurants, shops, movies and parks. Westrec acquired this property in November 2002 by lease agreement with the property owner, Sunrise Harbor Multifamily Inc. With a full time staff of 3, this 22 -slip marina generates almost $2 million a year in gross revenues. Since the lease inception, Westrec has been 100% involved in all aspects of the marina's operations and management. 20 Holiday on Lake Lanier, Lake Lanier, Georgia Holiday on Lake Lanier, located just outside of Atlanta, was acquired Westrec in July 1987 and is leased from the U.S. Army Corps of Engineers under a lease that was recently extended to the year 2047. Set on forty sprawling acres of wooded land, this marina is the largest in the Westrec portfolio, with over 1,200 slips. Many of the boats housed at this facility are houseboats utilized as summer vacation homes by Atlanta suburbanites. Since these boaters tend to come and stay for extended periods of time on their vessel, Westrec has provided everything needed to make their stay at the lake more comfortable and enj oyable. Patrons of this marina can take advantage of great water skiing, jet skiing or sailing on over 40,000 surface acres of water. This lake is also a popular attraction for anglers. The lake has many secluded coves where you can cast a line for lunker bass, trout and other game fish species. Other features at this marina include boat rentals, boat repair, a huge 250' fuel dock, and even a chapel for weekend church services. Since acquiring the property, Westrec has fully operated and managed the site with a staff of 18. To date, we have invested in excess of $16,000,000 in its development, construction and capital improvements. 21 Allatoona Landing Marine Resort, Cartersville, Georuia Located 28 miles north of Atlanta, Lake Allatoona is a haven for boating enthusiasts and is also considered to be one of Georgia's finest waterways. The marina features 473 slips, 182 dry storage spaces, 130 RV spaces, a fuel dock and a private launch ramp and has a staff of 21 full time employees. Westrec acquired the property in September 1988. Since that time Westrec has invested in excess of an additional $3,000,000 in the facility. In the first year of operations alone, Westrec increased revenues by over 340% and to date revenues have increased by over 650 %. To achieve this success, Westrec focused on improving the facility and to better market it to the needs of the local boating community. These improvements include better access and parking, the addition of new dock facilities and the maintenance of existing slips. A new, much needed yacht repair facility complete with a rail lift was also added to the marina to increase revenues and provide a valuable, convenient service for boating patrons. This resort is an ideal family vacation destination with RV spaces as well as spacious, contemporary two- bedroom cottages available for overnight lodging. Boat rentals are available for lake cruising and fishing excursions and visitors are encouraged to pack a lunch or bring along food to barbeque at Allatoona's scenic picnic grounds. Restaurant and retail facilities round out the resort and offer guests a variety of convenient products and services. Westrec continues to own and manage this property and its on ongoing development and capital improvements construction. 22 Sunrise Cove Marina, Gainesville, Georuia The Sunrise Cove Marina is located on Lake Lanier just 30 miles outside of Atlanta. Westrec acquired this property in June 1988. Since that time an additional $3,250,000 has been invested in the facility to improve, beautify and maintain the marina. Revenues and net income nearly doubled in the first year under Westrec management. Westrec's full time staff of 6 provides excellent customer service to their guests. Due to the popularity of the marina, four new docks have been constructed, along with a floating store and fuel dock, a Clubhouse, and two new bathhouses. ,.:P'.'-.t..111.itttr . This marina now contains over 750 open and covered slips that are nestled in a beautifully wooded park -like setting. Visitors can hike, fish or pack a lunch and enjoy the natural beauty of the picnic areas that are scattered along scenic paths and walkways. A restaurant is also available for our guest's dining pleasure. Westrec continues to own and manage the property its operations, development, and capital improvements construction. 23 Grove Isle Marina, Coconut Grove, Miami, Florida staff of 5 insures ten-ace lounge, Har -Tru clay tennis courts, meeting and party rooms and the 50 room luxury Noble House Hotel. excellence in customer service. Grove Isle Marina is one of Miami's finest marinas. Located in the heart of beautiful Coconut Grove, the Marina is situated on a 20 -acre private island surrounded by Noble House Hotel's Grove Isle Resort. There are no fixed bridges between the Marina, Biscayne Bay, and the Atlantic Ocean. Grove Isle Marina boasts state of the art 24 -hour security, an electronic weather station, and is home to the 5 -star rated Baleen Restaurant. Grove Isle Marina has a limited number of its 85 slips available for purchase. A full time The club facilities include a large pool with Grove Isle became a Westrec Affiliated Marina in 1995. Affiliate Marinas participate in Westrec programs such as risk management, customer service and advertising for an annual fee but are not operated by Westrec. In 2005, Grove Isle became a Westrec Marina through a management agreement with the facility's owner HMG Courtland Properties, Inc. Westrec participates 100% in overseeing the operations and management of the marina only. 24 Crandon Park Bait and Tackle and Fuel Dock, Miami, Florida Crandon Park Bait and Ta Park on Key Bis c April 1st, 1997 under a per County Depat This retail o adjacent to one of the mc recreation areas in ackle and Fuel Dock Facilities ayne in Miami, Florida. rmit agreement with artment of Parks and peration is located ost popular marinas Florida — Kev Biscayne. Westrec has 4 full time staff ensuring excellent customer service for our retail and fuel dock operations at this location. In 2002 the County issued RFP No. 304 which included the retail bait and tackle store the fuel dock, and boat rental operations. Westrec responded and was chosen through the RFP process and is the prime contractor. are located in Miami -Dade County's West ec began management of this site on - Since December 1st 2004, Westrec has operated this facility under a five year Lease Agreement with the County with an option to renew for an additional five year term. Under the permit agreement from April 1997 through February 2004, Westrec paid Miami -Dade County $260,676 in base rent and percentage rent for the time period. Since March of 2004 through August 2008 we have paid Miami -Dade County $2,959,958 in percentage rent and net fuel proceeds. Under our new agreement, Westrec receives 50 cents per gallon of fuel pumped, the County handles all fuel ordering and invoices and receives 100% of the fuel sales. Westrec also pays 10% of the retail store's gross revenues. We estimate our payments to the County will be approximately $700,000 through the initial term ending in December 2009. While the facility only generates a fraction of the income of a typical marina in the Westrec portfolio, it illustrates how Westrec is continually on the lookout for opportunities to utilize our experience to improve boater services and satisfaction. When Westrec first assumed operations in 1997, we immediately re- merchandised the store, retrained employees in Westrec's customer service program and set about revamping the fuel dock. This resulted in a dramatic increase in customer service and retail sales, and ultimately the revenue to the County. In the summer of 2007 the County began the renovation of the county operated marina area and uplands as part of the parks master plan. Our retail operations have since moved into a temporary trailer until such time that construction of the new building is complete: 25 Haulover Marine Center and Haulover Point, North Miami Beach, Florida Currently, Westrec operates the Haulover Marine Center and Point, located at Haulover Park in Miami - Dade County. This facility has been under Westrec management since March 1995. The initial term was for ten years and there are two five -year options to renew. Presently Westrec is in the middle of its first five year option, having renewed in 2005. Since April 1995 through September 2008, Westrec has paid the County a total of $1,101,864 in base and percentage rent. Through the end of the current option period (March 2010), Westrec estimates their lease payments will be approximately $594,000 to the County. Located within an oceanfront county public park and comprising two separate locations, both sites in the Park are leased to Westrec, Haulover Marine Center on the north end and Haulover Point at the southernmost end of the Park. Westrec has a staff of 16 full time employees at this property. The site at the southern end, Haulover Point, is adjacent to the inlet and directly across from one of the most popular inland sandbars in South Florida. Haulover Marine Center Haulover Point houses a retail store, gas and diesel fuel dock, restrooms and sanitary pump -out. Haulover Point stocks extensive bait and tackle, and marine fuel products. The North location, Haulover Marine Center, is 1/z mile from Baker's Haulover Inlet. It presently consists of an open rack dry storage building for 268 boats up to 40 feet in length and personal watercrafts. The Marine Center also features a retail store, gas dock, bait shop, boat rentals, marine service department, and restaurant. This property is located adjacent to one of south Florida's busiest boat ramps and across from one of the nicest beaches in Miami -Dade County. The site had previously been victim of mismanagement and disrepair. Before Westrec took the site out of bankruptcy in 1994, average dry storage occupancies were hovering at 30% capacity. Westrec immediately set out on a plan to restore the site services and has invested nearly $1 million into expanding marine services and amenities to meet the current needs of boaters and non - boaters alike. Today, dry storage occupancy levels are in the mid 90% range of capacity year round. Through effective controls and improved customer service, the Marine Center and retail areas continue to receive compliments from all sectors of the local community regarding the improved level and quality of service since Westrec's takeover. Westrec has also been proactive in sponsoring local events at this marina. The Kite Festival, held twice a year, draws a crowd of some 2,500 young people who come to the south end of the Park to fly kites, listen to music, and have a great time. Westrec provides music, sponsors giveaways, and provides food and refreshments for this semi - annual celebration. Another park event, the annual Coconuts Festival, involves the North Dade Chamber's "Big Fish" tournament, reggae music, a youth talent search, and much more. Westrec and the Marine Center are both the hosts and sponsors for this event, which draws anglers and park visitors from all over south Florida. 26 In addition, Westrec, through Haulover, is a Platinum sponsor of Miami —Dade County Parks and Recreation Department's Annual Blue Water Fishing Classic held each June. Haulover has been a top sponsor of this event (now in its fourth year) for the last three years. The tournament is operated from all six county marinas. It is a great opportunity for Haulover Marine Center customers and those boaters utilizing the Park's launch ramps due to the excellent location adjacent to Baker's Haulover Inlet with easy quick access to the Atlantic Ocean. Through the Marine Center and our retail and fuel dock operations at Crandon Park, Westrec also sponsors Miami -Dade County's Department of Environmental Resource Management's annual "Baynanza" at the "Bay Saver" sponsorship level. The focus of this event is a waterway clean -up of the waters and shorelines of Biscayne Bay through the coordination of thousands of volunteers. This community event held every April promotes environmental awareness and public education on the problems of marine pollution and how to prevent it. Our support helps to provide volunteers with water, trash bags, and other items needed for the clean -up event. In addition, each year the Marine Center has offered a boat shuttle for volunteers from Haulover to the nearby mangrove islands on the Intracoastal along the sandbar opposite the inlet, to insure these heavily trafficked areas are not overlooked in some volunteers enthusiasm to clear more remote locations along the waterway. Since Westrec began lease operations at the park in 1995, the entire area surrounding this County Park has experienced a renaissance as a number of strip malls and mom & pop hotels were demolished to make way for a number of high -rise condominiums, upscale shops, and restaurants. Westrec has drawn extensive plans to build a new 500+ slip dry storage facility at the site pending county approval. The closest marina to Haulover Marine Center in the area was Sunny Isles Marina on the ICW just a 1/2 mile to the north. Since Hurricane Wilma, it has been demolished, and the location is now set to become a new condo development. It was a fully - enclosed dry storage facility similar in size to the proposed new dry storage and was 100% occupied. Over the last ten years, two other dry storage marina facilities in the immediate area were also replaced with condominium developments. This has contributed to an already existing shortage of dockage and boat dry storage space. Westrec believes construction of a new building in such an ideal location will go far to meet the demands and satisfy the needs of the public. 27 Melia Resort Marina, Angra dos Reis, Rio de Janeiro, Brazil The Melia Angra Marina & Convention Resort is located in the exclusive region of the Costa Verde of Angra dos Reis right alongside Canal do Pimenta Beach. This area, known for its scenic boating and excellent dive locations is a three -hour drive from downtown Rio de Janeiro. Angra is home to a variety of upscale shops, malls, hotels, and restaurants and a playground for the well - heeled. The Marina is situated in a well protected area and has 30 wet slips for vessels up to 70' in length and dry stack storage for 300 vessels up to 55' in length utilizing a 40 -ton gantry crane system and 28,000 lbs negative marine fork truck. Westrec has a staff of 15 at this location. The property offers full service marine repairs with Volvo and Mercury authorized shops, a crew lounge, boat rental, and scuba dive center, restroom and shower facilities, restaurants, bars, boutique shops and convenience store on site. The facility is adjacent to the 200 room four star resort and convention center, has 24 -hour security and is a gated property with controlled entrance. A fitness center, spa, and private sandy beach round out the list of top- notch amenities at this marina which opened in July 2007. Westrec is began its involvement in this 10 million (US) dollar project through its Westrec Marinas Latin America (WMLA) division in June 2003 under the leadership of its Director there, Ronaldo Souza. This project was under development by Associacao Marina Costabella - Melia Resorts. Westrec participated in the design, development, and construction of the marina and continues operations and management of the facility by agreement. Westrec's investment in the project equaled approximately 1% professional consulting services provided in kind throughout the project's inception and development. Opening with a 30% occupancy in 2007, the marina is expected to achieve 95% occupancy within four years with an annual net income of $650,000 (US). of the project cost for 28 Premium Marina Frade, Antra dos Reis, Rio de Janeiro, Brazil Premium Marina Frade, is located in the elite region of the Costa Verde of Angra dos Reis on the Canal do Frade. This area is a three -hour drive from downtown Rio de Janeiro and a five hour drive from Sao Paulo. A chic vacation destination, Angra is known for its scenic waterways, pristine waters, calm beaches, great snorkel and dive spots as well as the rain forests touching the sea. A variety of fashionable upscale shops, hotels, restaurants, and malls cater to a variety of tastes. There is a small airport for regional flights. 4 2INA -FRADE iif11tII This marina is located five minutes from Melia resort. It has 60 dry storage spaces for power and sport fish vessels ranging from 30' to 60 ' in length. Haul out operations include a 50 -ton gantry crane system and a 100 -hp marine tractor. This facility is a very private, boutique -type marina targeted towards high end consumers looking for an exclusive location and specialized attention for their boat. Westrec's staff of 9 ensures attention to detail for every boat owner and their guests. The dry storage building is fully enclosed which is not common in Brazil and adds to the location's desirability. The marina features a crew lounge, rest room and shower facilities, and a convenience store. The property is fully gated with 24 -hour security, security camera surveillance system, and limited access. The next phase of construction will be a fuel dock and ship's store for marina patrons. Westrec, through Westrec Marinas Latin America, became involved in the initial stages of the development of this $4,500,000 US project by Marina do Frade de Angra in 2002. Westrec's investment consisted of in -kind professional consulting services in exchange for a management agreement. Westrec participated in the design and construction phases of this facility which opened in September 2006, and presently operates and manages the facility. The project's outcome saw the marina net $270,000 in its initial year of operation. Once the fuel dock is completed, Westrec expects net operating income will be in excess of $750,000 due to demand in the area. 29 The Errol Flynn Marina, Port Antonio, Portland, Jamaica In 2003 Westrec was selected, through the Port Authority of Jamaica's tender process, for the operation and management of their new mega -yacht complex at Port Antonio, Jamaica. Westrec's scope of work for this development incorporated the start -up of all the upland amenities including, but not limited to, the restaurant, boatyard and repair facilities. The marina encompasses a 32 -slip state of the art mega - yacht complex that accommodates yachts up to 350 LOA with a maximum depth of 17 feet, as well as the 55 -slip former Henry Morgan Marina. Boat repairs and maintenance are available at the full- service boat yard, which features a 100 -ton boatlift, the only one of its kind in the Western Caribbean. The marina offers long term and hurricane storage with a new 50 -bay dry storage facility accommodating up to 100 -foot boats. It also boasts single and three -phase power, three telephone lines at each berth, crew bar, billiards, swimming pool, and shore storage and is an official Port of Entry with 24 -hour Customs and Immigration. Westrec was instrumental in bringing Norma's at the marina, at full service gourmet restaurant to the complex. This restaurant was featured in Conde Nast Traveler's 2005 Hot List and overlooks the marina and Navy Islands, once home to Errol Flynn. A perfect deep -water harbor in a perfect setting of ultimate beauty, the Errol Flynn Marina is a jewel in the Western Caribbean. This property was sold by the Port Authority as part of an upland development deal in late 2007. Through mutual agreement with the new owner, Westrec continued to manage and operate this facility until the five year lease with the Port Authority just recently expired in November 2008. Since acquiring this property under a management agreement, Westrec was fully involved in all aspects of the facilities development, management and operations, overseeing a staff of 18 full time employees. Westrec provided all recommendations for capital equipment purchases and the establishment of boatyard and repair facilities at the site. By agreement all capital improvement purchases were funded by the Port Authority. Westrec was paid a management fee equal to a percentage of gross revenues or a minimum fee. 30 Westrec Marinas Tearn Members and Statement of Experlence Key Staff Westrec realizes that good people are the key to our success. The dedication, focus and creative efforts of Westrec's qualified team members have ensured steady company growth and happy customers who understand that Westrec staff is working to improve the enjoyment oftheir marinas. Westrec instillsthe spirit of teamwork in every aspect of service and operations undertaken by its employees, from seasonal dockhandsto senior corporate staff. Westrec invests in our people. We train themto manage effectively. We help them to adjust to the rapidly changing market and customer needs. We provide training that fosters professional growth and creativity. We require our staff, including our Harbor Masters, to participate in off-site training educating them on the latest information on industry trends, marketing, human resources and new products and services. Our training approach leverages experiential learning so that our managers learn how to manage more effectively. Scott Stevenson, Executive Vice President Scott joined Westrec 20 years ago, leading the Chicago office for the past 16 years. He has 30+ years of experience in the marine industry with direct responsibility managing more than 40 marinas and designing and building marinas in the United States, Hong Kong, Mexico and Japan. Scott's broad experience is unparalleled in the marine industry providing Chicago with the most comprehensive leadership in marina management available today. His experience contributes to Scott's success in Chicago, working with the boating community to satisfy their needs while overhauling the marina facilities and providing economical, efficient and substantial facilities for all Chicago boaters. Scott holds both an MBA and Bachelor of Arts degree from Brigham Young University. As part of his contribution to the Chicago Park District operations, Scott has • Developed the Harbor Improvement Plan for the nine Chicago Harbors • Supervised engineering and project management for $80 million of harbor improvements from 1997 through 2012 • Implemented changes and programs resuKing in an increase of $13,000,000 in operating income from 1995 through 2012, which supports Chicago Park District programs district -wide • Supervised the operation and development of eight outdoor skating rinks, including the rink Millennium Park and Wrigley Field. • Developed accurate budgets, beneficial sales and marketing plans for the harbors and successful retail stores in the harbors and recreational centers. Westrec Marinas • Serves actively on Mayor Daley's Harbor Task Force, Chicago River Task Force and Fishing Advisory Committee aswell asworking closely with the Chicago Yachting Association and Friends of the Marine Community Kirk Kliest, Operations Manager Kirk has been with Westrec for 13 years years and has served the Chicago Park District since 1983 working in various positions in beaches and pools, and as a scuba diving supervisor. Kirk oversees operations, maintenance and management of the 10 lakefornt harbors. Additionally, Kirk has served as a Master Scuba Diver Trainer since 1977. He is the scuba trainer for the Chicago Police Marine Unit, Chicago Fire Department Squads, Illinois State Police Marine Unit and Department of Conservation Marine Unit. He has a Bachelor degree from Northeastern University, with a major in math and a minor in physics. Jay Korn, Administration Manager Jay oversees all ofthe administratWe functions within the Chicago region, including information technology, systems and procedures, payroll, and purchasing. Jay oversawthe conversion of our accounting software to FSM in 2011. Prior to joining the administrative team, Jay was the Harbor Master at Burnham for two years and previously was the Harbor Master at DuSable Harbor for three and a half years. Jay has an MBA and Bachelor of Science Management degree from University of Illinois Chicago. Jay joined the Chicago Harbor System and Westrec from the Park District's Life Guard Service. He was a seasonal lifeguard from 1984 until 1991, and worked full -time in the lifeguard service from 1991 until 2002. Jay is a PADI certified Open Water DWer and Instructor in the American Red Cross First Aid, CPR and AED programs. Mary Sullivan, Regional Controller Mary has been with Westrec for nearly 20 years contributing a corporate financial management approach to managing the Chicago Harbor System. Mary has developed and implemented solid financial controls, cost reduction, budgeting and forecasting as well as personnel development for Westrec. She contributes her insights and experience from manufacturing environments. She is skilled in financial reporting, cash management, budgets, operation funding and special projects. She understands the critical importance of systems management, customer service, retail reporting and tax filings. Enza Montano, Assistant General Manager Enza has been with Westrec for almost 10 years and currently oversees the marketing, promotions and customer service activities In the region. For the opening of the new 31st Street Harbors, she developed the Lakeshore Lifestyle concept and videos, organized the Chicago In -Water Boat Show and was instrumental in using electronic media to reach customers. For the past 10 years, she has supervised the region's customer service programs and training. Prior to Joining Westrec, she worked as the Finance Manager of the Chicago Park District's Lakefront Services division. In that position, Enza oversaw the financial reporting of all privatized companies, which generate more than $50 million in revenues to the Chicago Park District. She has a Bachelor degree in economics from Northern Illinois University. 1 runnzi AAA 'It is my pleasure b inform you b)at the Hariwrmaster ... haw/lee/the problem well, containing the alspi! wilhubnost efficiency." GaryJanowil2, Belmon!Harbor Westrec Marinas Customer Service Training Program Westrec's Customer Service Program, The Westrec Way, is a program that represents excellent customer service in every facet of marina operations. Our customer service training program is a key element in keeping our associates attuned to this concept. Two manuals were created to assist in training: the Supervisor's manual Creativa the Westrec, ',Sand an Associate manual, Providing the Westrec Way. Both are easy to read and stress Attitude, Awareness and Action, the triple AAA standard of quality service. They are available in Spanish to supplement training. Our associates are required to complete Customer Service Training within 30 days of beginning work. Refresher courses are required yeary, and Westrec Chicago holds monthly meetings to discuss components of customer service. An incentive program instills excitement for high quality customer service among our associates, providing a sense of achievement through regional and nationwide recognition. Customer Survey Cards Postage -paid survey cards, addressed directly to the President of Westrec, are provided at key points in all marinas. These cards are a good source of information for correcting issues quickly with Westrec staff and our facilities. Evaluations/ Management Recommendation A customer service attitude is a major element in the hiring of personnel and a customer service component has been added to the evaluation of associates. The committee seeks input from each manager when awards are being discussed. Customer Appreciation Day Customer Appreciation Days are held at the Chicago Harbors and other Westrec marinas. The purpose of these events isto assist boaters and marina staff in getting to know one another on a personal level and promoting a family -like, friendly atmosphere at each harbor. Westrec uses these eventsto thank boatersfortheir support of the harbor and harbor staff. The eventsvary by location but often include complimentary barbeques, live music and raffles for products and services. These events are successful and build pleasant camaraderie. Westrec is committed to the expansion of Customer Service Programs. Westrec believes that these programs are instrumental in helping to maintain leading status in the marina industry. On the following page, we are sharing with you the design of a foldout laminated card each of our staff carries with them every day. It shows you Westrec's approach to training our staff to understand their customers and their complaints, and the importance of finding solutions that make them happy. Westrec Marinas Westrec is a Marina Industry Leader Westrec manages 31 large marinas through the world. This broad experience ensures that we have the capability and experience in the operation, maintenance and management of harbor systems comparable in size to that of the District's harbor system. Westrec performs various other functions in the marina industry such as consulting, design, development and construction. The consistent principle that Westrec has maintained in every one of these efforts has been to design facilities that focus on operations, with the goal of meeting and exceeding the wants and needs of the community. This attention to service contributed to the quality of Chicago's Harbor System. Westrec is an industry leader continually experimenting and expanding the products and services offered at the marina level and working to increase each marina's economic performance. Westrec has successfully integrated a number of programs that expand boating revenue such as boat rentals, regattas, tournaments and cruises. Westrec is recognized for its numerous special events that attract boaters and non - boaters alike. Westrec promotes and supports eco- tourism, snorkeling, wildlife tours, dinner cruises and other exciting elements for non - boaters at its marinas. Westrec Experience Westrec excels at the critical elements needed to manage, operate and maintain high - quality marinas. These include: • Wet Slips. Many marinas in the Westrec portfolio were in poor shape prior to being operated and managed by Westrec. Westrec redesigned and refurbished marinas. Today, these marinas to achieve the highest market rates due to demand for newfacilities with state of the art amenities. • Boat Launches. Boat launches allowthe public the opportunity to launch boats conveniently and inexpensively. These facilities either have a ramp that drops straight into the water or a crane that lifts boats and launches them gently in the water. A fee is charged for each launch as well as for parking privileges. • Retail. Westrec strives to cater its retail establishments to meet the needs and wants of the customer base of the marina in which it is located. By following this strategy, revenues are maximized while inventories are reduced. Westrec's retail stores range from small convenience stores selling snacks and beverages to larger stores that carry everything from marine supplies and clothing and gifts, to fishing tackle, water toys, wake boards and water skis. • Fuel Docks. Westrec- operated fuel docks engage some of the most stringent environmental controls in the business. Our fuel docks employ double walled hoses, effectively preventing fuel spills in the event that a Westrec Marina s hose leaks or bursts under pressure. Absorbent booms are stationed at fuel docks to be easily accessible in the event of any fuel or oil spill into the water. Vapor recovery units are also used in certain areas to contain gasoline fumes, conserve fuel and to keep fumes from entering the atmosphere. Westrec policy is to have emergency action plans in place prior to any incident that may occur. • Pump out Services. Westrec has pump out services at most marina locations. Cheap, convenient and easy for customers to use, these services promote healthy practices for aquatic ecology and the environment and reduce the need or desire for boaters to dump holding tanks offshore. Westrec proudly serves as a watchdog for our properties and the environment. • Environmental Responsibility. Our philosophy is "to provide boaters with the test ever manna experience possible, while also preserving our precious natural resources for future generations to enjoy." W e create specific policies and procedures to ensure that the environment is left pristine and minimally affected by our operations. Westrec was awarded a certificate for "Best Practices" from the U.S. Environmental Protection Agency, the first environmental award ever given to a company in the marina industry. Westrec was also given the "Clean Vessel Act Excellence Award" sponsored by the U.S. Fish & Wildlife Service for the role played in keeping waterways clean through the availability of quality pump out services at Westrec- managed marinas. • Recycling Programs. Westrec is proud of its long track record of providing recycling systems and programs for our tenants. Making hazardous material disposal inexpensive and convenient ensures that harmful materials are not disposed of improperly or illegally. Hazardous Material Recycling programs at Westrec- operated marinas help to tum used oil back into new, and to safely dispose of paints, chemicals and solvents so that they don't end up in gutters or washed down drains. Safe battery disposal is promoted at Westrec Marinas where battery pick up services are utilized. Consumer recycling programs at Westrec marinas deal with non - hazardous waste. These programs tun used plastics, glass, aluminum and paper into items that can be used again, for items such as park benches, post consumer packaging and other products. Westrec Marinas Westrec's Best Customer Technique - Our People By far, the single most effectWe marketing tool that Westrec has at its disposal is its associates and their devotion to the needs of the customer. Westrec has found that one of the best and most effective methods of generating increased awareness to our marinas is by word of mouth. We all know a satisfied customer tells one friend, while a dissatisfied customer tells 10. By establishing our marinas as recreation hospitality centers, Westrec positions its personnel to engage in winning customer service interactions each and every day. By providing fast responsesto maintenance requests, assisting boaters with supplies and materials to their boats, courteously answering all questions, and providing visitors with the same warm feeling of belonging that tenants enjoy, the Westrec team strives to create a desire for the guest to return to the marina again and again. Westrec realizes that good people are the key to our success. All of our growth depended on the dedication, focus and creative efforts of Westrec's qualified team members. Fromthe president of the company down to part time dockhands, Westrec strives to instill the spirit of teamwork in every aspect of service and operations. Westrec Operational Staffing and Organizational Structure Westrec's primary method of operating a new marina facility is to draw on the vast experiences of its personnel, across all of its marinas. The Westrec team consists of individuals who are at the leading edge of marina industry expertise in the areas of customer service, marina design, construction, financial evaluation, accounting controls, marketing, special events planning, insurance and all other elements that ensure successful marina management. These key people support the Westrec staff in Chicago and act as resources for new information. Their involvement helps W estrec run the most efficient management program in the industry. William W. Anderson, President Westrec Marina Management, Inc. provides vision and leadership for Westrec Marinas. He is responsible for all operating issues involving the Westrec portfolio, including staffing and management. Mr. Anderson has been involved in the negotiation, development, construction and management of over 75 marina properties. Prior to coming to Westrec, Mr. Anderson served the National Park Service for over ten years as a management specialist and was responsible for over 50 miles of waterfront parks and recreational facilities. He was also involved in many diverse projects such as the restoration of the historic wooden ships at Fisherman's W harf's Hyde Street Pier and the development of the Golden Gate Recreation Area. At Westrec, he works closely with Regional Managers and on site Managers to ensure that all Westrec facilities deliver the "best ever marina experience "to their tenants on a daily basis. As a nationally recognized figure in the industry, Mr. Anderson is often requested to speak at national gatherings of marina industry professionals on a variety of topics. Westrec Marinas Jeffrey K. Ellis, CFO - Westrec Financial, Inc. hasvast experience in maintaining relations with investors and corporate lenders. Mr. Ellis effectivey negotiatesfinancing for acquisitions and capital improvements for Westrec and its affiliated partnerships. He has been involved in raising over $40 million in capital for Westrec marina acquisitions and ventures. Sandy Russell, Vice President of Human Resources is responsible for Westrec's human resource functions, which include employee/labor relations, staffing, training, the resolution of employee issues and conflicts, employee benefits, and other related areas. One of her primary goals isto provide formal training programs to marina managers and other site personnel to effectivey communicate roles and functionsvital to the operation. Ms. Russell has 18 years of experience managing human resource departments and employee benefits. She is the author of our employee and supervisory manuals and a regular speaker at industry workshops. She is the company's liaison on DOL, EEOC and DFEH matters and is the primary union negotiator for Westrec. Navel Lassiter, Director of Construction Projects is responsible for the evaluation, planning, design, permitting, project costing and contractor management of construction projects. Mr. Lassiter ensures that all construction projects are cost effective and that Westrec gets the highest quality materials and craftsmanship for the capital invested. He ensuresthat all marina construction, projects and upgrades are completed within projected timelines and within budget constraints. Mr. Lassiter is also responsible for keeping up to date on and complying with various State's Government Building and Safety Codes in the development of every one of Westrec's marinas. Mr. Lassiter has been invoked in over 130 such projects in the Westrec system. Scott Stevenson, Executive Vice President, Northern Region, Westrec Marina Management, Inc. became associated with Westrec in 1991 and now oversees operationsfor Westrec Marinas in the northeastern United States. From 1988 to 1991 Mr. Stevenson acted as President for Marina Ventures International, Ltd., an international marina development and management company. His experience encompasses developments in Hong Kong, Mexico and the United States and includes construction, management and marketing responsibilities. Acting as Director of sister company, Marina Ventures, Ltd., Mr. Stevenson gained experience as a designer and manufacturer of floating marinaswith over 250 projects constructed worldwide. Awarded a MBA from Brigham Young University in 1983, he also holds a Bachelor ofArts in International Relationsfromthis same University. Westrec Regional Managers. Other Westrec regional managers may also lend their experiences and expertise to other marina properties. As a matter of fact, Westrec looksto replicate past successes in its portfolio to each marina it operates. However, rather than completely copy another marina's operating and marketing programs, Westrec looks to flexibly integrate these programs into the other marina's individual character. In this way, Westrec insures that each marina can capitalize on its own uniqueness, while gaining from the benefits of other successes. Westrec Marinas Westrec Marina Managers situated across the U.S.; managers are involved in both formal and informal methods of assisting each other in operating strategies and successful programming. These managers often informaly contact each other to trade knowledge and to keep updated on the latest issues, technologies and techniques in the industry. W estrec's annual manager meeting creates a formal process of this information and knowledge transfer. This meeting is an intensive four -day seminar that ushers in a variety of guest speakers to discuss industry developments and assists in the development of new management skills in the areas of construction, motivation, leadership, financial evaluation, marketing etc. No other company in the industry offers its managers this continued challenge and improvement to their skills, which makes a Westrec manager superior to our competitor's management teams. ACc °r CERTIFICATE OF LIABILITY INSURANCE 4/30/2013 DATE (MM/ 13 ) THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(Ies) must be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder In Ileu of such endorsement(s). PRODUCER Lockton Insurance Brokers, LLC CA License #0F15767 Two Embarcadero Center, Suite 1700 San Francisco CA 94111 (415) 568 -4000 p NAMEACT (NC, No, Ext): I (NC, No): E -MAIL ADDRESS: INSURER(S) AFFORDING COVERAGE NAIC # INSURER A : The Continental Insurance Company 35289 INSURED Westrec Financial, Inc. 1067293 and Subsidiaries and Affiliates 16633 Ventura Blvd. 6th Floor Encino CA 91436 INSURER B: Philadelphia Indemnity Insurance Company 18058 INSURER C : Navigators Insurance Company 42307 INSURER D : EACH OCCURRENCE INSURER E : DAMAQE TO RENTED PREMISES (Ea occurrence) INSURERF : MED EXP (Any one person) COVERAGES WESFI • • THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSR LTR TYPE OF INSURANCE ADDL INSR SUER WVO POLICY NUMBER POLICY EFF (MWDD/YYYY) POLICY EXP (MWDD/YYYY) LIMITS A GENERAL — X LIABILITY COMMERCIAL GENERAL 1CLAIMS-MADE LIABILITY X OCCUR N N MB7600084 11/30/2012 11/30/2013 EACH OCCURRENCE $ 1,000,000 DAMAQE TO RENTED PREMISES (Ea occurrence) $ 1,000,000 MED EXP (Any one person) $ 10,000 PERSONAL & ADV INJURY $ 1,000,000 GENERAL AGGREGATE $ 2,000,000 $ 1,000,000 GGEjEN'L AGGREGATE LIMIT APPLIES PER: 1 POLICY JEC I LI I LOC PRODUCTS - COMP /OP AGG $ B AUTOMOBILE X _ X X LIABILITY ANY AUTO AUT OWNED HIRED $1K Comp. X X X SCHEDULED AUT OSWNED $1K Collision N N PHPK889254 7/1/2012 4/30/2013 (Ea aBcaldeDno INGLE LIMIT $ 1,000,000 BODILY INJURY (Per person) $ XXXXXXX BODILY INJURY (Per accident' $ XXXXXXX Pea EinDAMAGE (Per accident) $ XXXXXXX — $ )000000( C X UMBRELLA LIAB EXCESS LIAB X OCCUR CLAIMS -MADE N N SF12LIA95582801 11/30/2012 11/30/2013 EACH OCCURRENCE $ 25,000,000 $ 25,000,000 $ XXXXXXX AGGREGATE DED 1 I RETENTION $ WORKERS COMPENSATION AND EMPLOYERS' LIABILITY y / N ANY PROPRIETOR/PARTNER /EXECUTIVE OFFICER/MEMBER EXCLUDED? (Mandatory in NH) If yes, describe under DESCRIPTION OF OPERATIONS below N / A NOT APPLICABLE VAC STATU- (TORY LIMITSI 1°Z-1- E.L. EACH ACCIDENT $ XXXXXXX E.L. DISEASE - EA EMPLOYEE $ )00(XXXX E.L. DISEASE - POLICY LIMIT $ XXXXXXX A MOLL N N MB7600084 11/30/2012 11/30/2013 $1,000,000 DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES /(Attach ACORD 101, Additional Remarks Schedule, if more space is required) As a Request for Proposal without the contract yet awarded, the attached Certificate is in evidence of Insurance Policy(s) currently in effect and can otherwise be in compliance per the Insurance Schedule C attached for such coverages included herein. Upon awarding of the RFP to Westrec during the Consultant Selection on/about 4/15/2013, such coverage otherwise Evidence herein will be amended to comply with such terms required under Insurance Schedule C. CANCELLATION 12291747 City of Dubuque, Iowa c/o Leisure Services Department 2200 Bunker Hill Road Dubuque IA 52001 ACORD 25 (2010/05) SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELNERED IN ACCORDANCE WITH THE POLICY PROVISIONS. AUTHORIZED REPRESENTATIVE ©1988 -2010 ACORD CORPORA N. All rights reserved The ACORD name and logo are registered marks of ACORD AC?R°" CERTIFICATE OF LIABILITY INSURANCE 7/1/2013 DATE (M4/9/2013 ) THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(les) must be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder In Ileu of such endorsement(s). PRODUCER Lockton Insurance Brokers, LLC CA License #0F15767 Two Embarcadero Center, Suite 1700 San Francisco CA 94111 San (415) 568 -4000 NAMEACT Ext): FAX ' No): E-MAIL ADSS: INSURER(S) AFFORDING COVERAGE NAIC # INSURER A : Darwin Select Insurance Company 24319 INSURED Westrec Financial, Inc. 1071504 and Subsidiaries and Affiliates 16633 Ventura Blvd. 6th Floor Encino CA 91436 INSURER B: NOT APPLICABLE INSURER C INSURER D : j XXXXXXX $ XXXXXXX INSURER E : INSURER F : MED EXP (Any one person) • • THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSR LTR TYPE OF INSURANCE ADDL INSR SUBR WVD POLICY NUMBER POLICY EFF (MM/DDIYYYY) POLICY EXP IMM /DD/YYYYI LIMITS GENERAL — LIABILITY COMMERCIAL GENERAL LIABILITY NOT APPLICABLE EACH OCCURRENCE j XXXXXXX $ XXXXXXX PRA MISES (Ea occurrence) CLAIMS -MADE ❑ OCCUR MED EXP (Any one person) $ XXXXXXX PERSONAL & ADV INJURY $ XXXXXXX GENERAL AGGREGATE $ XXXXXXX GEN'L AGGREGATE LIMIT APPLIES PER: —1 POLICYn JEC F7 LOC PRODUCTS - COMP /OP AGG $ XXXXXXX $ AUTOMOBILE — LIABILITY ANY AUTO AUTOS OWNED AUTOS HIRED AUTOS — _ SCHEDULED NON-OWNED NOT APPLICABLE COMBINED SINGLE LIMIT (Ea accident) $ XXXXXXX BODILY INJURY (Per person) ${XXX BODILY INJURY (Per accident $ XXXXXXX (Per PROPERTY DAMAGE $ XXXXXXX $ UMBRELLA LIAB EXCESS LIAB _ OCCUR CLAIMS -MADE NOT APPLICABLE EACH OCCURRENCE $ XXXXXXX AGGREGATE $ XXXXXXX DED I I RETENTION $ $ WORKERS COMPENSATION AND EMPLOYERS' LIABILITY Y / N ANY PROPRIETOR/PARTNER /EXECUTIVE ❑ OFFICER/MEMBER EXCLUDED? (Mandatory in NH) If yes, describe under DESCRIPTION OF OPERATIONS below NIA NOT APPLICABLE WC STATU- OTH- ITORY LIMITSI I ER E.L. EACH ACCIDENT $ XXXXXXX E.L DISEASE - EA EMPLOYEE $ XXXXXXX E.L. DISEASE - POLICY LIMIT 5 XXXXXXX A Professional Liability N N 03057414 7/1/2012 7/1/2013 $1,000,000 Limit $ 50,000 Deductible DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES /(Attach ACORD 101, Additional Remarks Schedule, if more space is required) Certificate is issiued as evidence of insurance only. R CANCELLATION 12291772 City of Dubuque, Iowa C/0 Leisure Services Department 2200 Bunker Hill Road Dubuque IA 52001 SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. AUTHORIZED REPRESENTATIVE ACORD 25 (2010/05) 01988 -2010 ACORD CORPORA . All rights reserved The ACORD name and logo are registered marks of ACORD City of Dubuque Insurance Requirements for Professional Services Insurance Schedule C APPENDIX B 1. Lockton Insurance Brokers, Inc. shall furnish a signed Certificate of Insurance to the City of Dubuque, Iowa for the coverage required in Exhibit I prior to commencing work and at the end of the project if the term of work is longer than 60 days. Providers presenting annual certificates shall present a Certificate at the end of each project with the final billing. Each Certificate shall be prepared on the most current ACORD form approved by the Iowa Department of Insurance or an equivalent. 2. All policies of insurance required hereunder shall be with a carrier authorized to do business in Iowa and all carriers shall have a rating of A or better in the current A.M. Best's Rating Guide. 3. Each Certificate shall be furnished to the contracting department of the City of Dubuque. 4. Failure to provide minimum coverage shall not be deemed a waiver of these requirements by the City of Dubuque. Failure to obtain or maintain the required insurance shall be considered a material breach of this agreement. 5. Subcontractors and sub subcontractor performing work or service shall provide a Certificate of Insurance in accord with Exhibit I. 6. All required endorsements to various policies shall be attached to Certificate of insurance. 7. Whenever a specific ISO form is listed, an equivalent form may be substituted subject to the provider identifying and listing in writing all deviations and exclusions that differ from the ISO form. 8. Provider shall be required to carry the minimum coverage /limits, or greater if required by law or other legal agreement, in Exhibit I. Page 9 of 11Marinaconsultantservicesmarch2013 City of Dubuque Insurance Requirements for Professional Services Insurance Schedule C (continued) Exhibit I A) COMMERCIAL GENERAL LIABILITY General Aggregate Limit $2,000,000 Products - Completed Operations Aggregate Limit $1,000,000 Personal and Advertising Injury Limit $1,000,000 Each Occurrence $1,000,000 Fire Damage Limit (any one occurrence) $ 50,000 Medical Payments $ 5,000 a) Coverage shall be written on an occurrence, not claims made, form. All deviations from the standard ISO commercial general liability form CG 0001, or Business owners form BP 0002, shall be clearly identified. b) Include ISO endorsement form CG 25 04 "Designated Location(s) General Aggregate Limit" or CG 25 03 "Designated Construction Project (s) General Aggregate Limit" as appropriate. c) Include endorsement indicating that coverage is primary and non - contributory. d) Include endorsement to preserve Governmental Immunity. (Sample attached). e) Include additional insured endorsement for: The City of Dubuque, including all its elected and appointed officials, all its employees and volunteers, all its boards, commissions and /or authorities and their board members, employees and volunteers. using ISO form CG 2026. B) AUTOMOBILE LIABILITY $1,000,000 (Combined Single Limit) C) WORKERS' COMPENSATION & EMPLOYERS LIABILITY Coverage A Coverage B Statutory —State of Iowa Employers Liability Each Accident $100,000 Each Employee- Disease $100,000 Policy Limit - Disease $500,000 a) Policy shall include an endorsement providing a waiver of subrogation to the City of Dubuque. b) Coverage B limits shall be greater if required by Umbrella Carrier. D) UMBRELLA LIABILITY $1,000,000 E) PROFESSIONAL LIABILITY $1,000,000 Page 10 of 11Marinaconsultantservicesmarch2013