Recommendation to increase appropriations in the Tidelands Operations Fund (TF 401) in the Economic and Property Development Department (EP) by $1,702,448 for a transfer of Queen Mary lease revenue to the Queen Mary Fund (TF 410); and Increase appropriations in the Queen Mary Fund (TF 410) in the Public Works Department (PW) by $1,702,448 for various capital and historic preservation projects, offset by the transfer of Queen Mary lease revenue. (District 2)
Thank you. There's been a motion and a second. Members, please cast your vote. Motion carries. Thank you. Item 21 Report from Economic and Property Development. Recommendation to Increase Appropriations in the Tidelands Operations Fund in the Economic and Property Development Department by $1.7 million for a transfer of Queen Mary lease revenue to the Queen Mary Fund District two . Thank you. Councilman Price. Too many. I have no comment. Thank you, sir. Mr. Marco Staff Report. Mr. Mike Gove. The Staff Report. Vice Mayor, Members of the City Council. This item relates to ongoing funding for the Queen Mary Historic Preservation and Capital Improvement Program. You may recall in November. Of last year, City Council authorized the. Preparation of a restated and amended lease with Urban Commons LLC under certain terms and conditions. One of the terms was to direct funds equivalent to the passenger fees collected. From Carnival Corporation by. Urban Commons into the Historic Preservation and Capital Improvement. Program Fund. Rather than relying on percentage rent. This mechanism creates a reliable, ongoing source of funding to continue to preserve, restore and maintain the Queen Mary. Because the restated lease has not yet been executed. Staff believes it is appropriate to capture a percentage rent for Flight 14. Into the Historic Preservation and Capital. Improvement Program Fund. In lieu of the passenger fee equivalent until such time as the restated and amended lease is executed and the alternate funding source is established. These funds will be critical to continue to repair and restoration of the Queen Mary. Recently, certain expansion joints had been discovered to. Be severely rusted, affecting the structural. Integrity of the ship and resulting in the temporary closure of the Promenade Cafe until repairs can be made. These repairs are estimated at $625,000. Remaining funds will be used for other anticipated emergency repairs or to fund repairs of items identified on the approved capital improvement program list. So staff request. City Council approved the. Recommended action and this concludes my report. Thank you. So any member of the public that wishes to address Council on item 21. CNN members cast your vote. Motion carries. Item 22 Report from Financial Management Recommendation to award a contract to Cape Toyota for the purchase of 32 Toyota RAV4 hybrid utility vehicles in a total amount not to exceed $1 million citywide.