Community Based management Plan

Solution:  see financials on Documents Link

Ala Wai Gross income 2011 to 2017: $31,409,004.29

Ala Wai Net income 2011 to 2017: $19,279,598.36 

1Community Based Non Profit Board like a Condo Association.  A 5 Member Board "Association" made up from elected boat owners in good standing in the Ala Wai Harbor, including one Board Member from the Hawaii Yacht club.  The Association will hire Professional property management to assist the board and manage the Ala Wai Harbor asset.  All income and expenses from boat owners and Hawaii Yacht Club shall be paid to and spent by the Association.  An Initial capital reserve account shall be funed by State releasing $19 million over  7 years back to the Association.  Only persons in good standing and Yacht club can vote for the board.  Hawaii Yacht Club members shall vote for the HYC club Board member only.

Included in the Association income, expenses, management and control are the following: All residential and commercial piers beginning at the edge of the public sidewalks, dock boxes, electric boxes, private bathrooms, all parking stalls currently marked in yellow as parking for harbor use only, water systems the provide water to the Association, and the land areas marked in "yellow".

Excluded from the Association income, expenses, management and control: All publicly accessed areas, all asphalt roadways and areas not marked in "yellow", all concrete or public sidewalks, water to any public areas including but not limited to the "surfer beach areas", public lighting and electrical systems, public restrooms and the boat ramp.

Vendor, maintenance and other 3rd party contract costs will be reduced through competent, bonded Association management and through streamlined bidding, accounting and inspections prior to final payment.

Hire a local property management company contracted to manage the harbor like any other asset assisting the Community Association Board of Directors.  State does this with public housing.  The $20million we have contributed to the general fund must then be placed in a capital reserve Letter of Credit to provide funds for harbor repairs that will increase annual income by over  $1million per year.  All future incomes and expenses must be kept in the Harbor capital reserve.  

This would satisfy DOBOR's plan to get out of the harbor management business and get Ala Wai off their management books.  Fuel dock and former boat yard will be leased by the Association to a developer.  HYC must be allotted reserved stalls for members and guests.

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