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Port of Garibaldi – Who are we?

Port of Garibaldi – Who are we?. Closest ocean port to Portland, Ore. Founded in 1910, the district totals 346 square miles and includes the cities of Bay City, Garibaldi and Rockaway Beach. 5,000 population. Total RMV of $971MM. Millage rate of 26¢.

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Port of Garibaldi – Who are we?

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  1. Port of Garibaldi – Who are we? • Closest ocean port to Portland, Ore. • Founded in 1910, the district totals 346 square miles and includes the cities of Bay City, Garibaldi and Rockaway Beach. 5,000 population. Total RMV of $971MM. Millage rate of 26¢. • Six employees, $1MM budget, $1.8MM in net assets. • First Port to complete it’s state-mandated Strategic Business Plan.

  2. Port of Garibaldi – Services • 277-slip marina. Largest between Warrenton and Newport. Fully leased. • Own and lease 30 waterfront parcels, street system, wharf/pier, storm drainage infrastructure. 95% leased. • Own and operate 60-space RV park. Acquired in 2011 through $150k IFA loan. • Advocate for continued maintenance of the Tillamook Bay jetty system. • USCG Station Tillamook Bay. Port of Safe Harbor.

  3. Port of Garibaldi – Economics • 250 jobs supported by 20+ businesses located on port property. • $54MM in annual gross sales (SOURCE: 2011 FCS Group, IMPLAN model.) • Successful, efficient hardwood mill. • 55 commercial fishing fleet. Three fish processing plants. • Key fishing and boating hub for tens of thousands of tourists and sportsmen. 11,000+ launches annually. 20,000 outbound bar crossings. • #1 Port for commercial clam landings.(2011 ODFW) • #1 Recreational ocean salmon landings. (2011 OCZMA) • #1 Oyster harvesting on state waters. (2010 Agripedia, EDA) • Oregon Coast Scenic Railroad, National Water Trail Designation, Rails AND Trails project with POTB, bird-watching and eco-tourism.

  4. Port of Garibaldi – Finances FY12 INCOME EXPENSES • “Positive and stable” financial outlook. (OBDD: Ports 2010) • Income: $1,095k; Expense: $1,032k; Net: +$63k. • Ending cash: $369k (4+ months of operating reserves.) Added to reserves in 8 of last ten years. • Diversified business holdings by adding RV Park which had positive operating income of $21k in first year. • Quick Ratio – 1.94; Debt/Equity Ratio - .46

  5. Port of Garibaldi – Wharf Project • Replacement of the Commercial Ave. Wharf has been the Port Commission’s #1 Goal since 2010 and is included in our IGA with the state as a priority project. • Built in 1941, 25,000 sf of wharf frontage has deteriorated to a barely usable state. PROJECT FUNDING Wharf $4.6MM COIV $1.6MM City Road $0.9MM EDA $3.0MM Contingency $0.5MM Enhance* $0.3MM TOTAL $6.0MM BALANCE $1.1MM Thank you, OBDD staff, for your continued support of the Port of Garibaldi! Happy Holidays!

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