Exhibit 19 provides an overview of the marina and adjacent facilities and grounds.

Transcription

1 Willow Berm 12 Willow Berm, located in Isleton (Sacramento County), is approximately 100 miles northwest of Lake Don Pedro. Willow Berm is a limited service marina that almost exclusively caters to boat slip services (houseboats and small vessels). Additional photos of these facilities are included in the back of this report in Appendix A. Exhibit 19 provides an overview of the marina and adjacent facilities and grounds. Exhibit 19. Willow Berm Marina Private Houseboat Slips. Willow Berm offers the largest number of private houseboat wet slips of all the marinas analyzed in this study, with 298 covered and uncovered slips that range in size from 14 to 20 wide and from 36 to 80 long. The average slip size is 18 wide and 56 long. The slips cater to long term renters with current occupancy at over 90% year round. Houseboat slip renters have access to electrical hookups (30 and 50 amp outlet connection), as well as water and sewage pump out. These services are included in the slip rental fee. While 12 Information concerning Willow Berm is based on an interview and site tour conducted with Vickie Baumann, Willow Berm s general manager, on December 18, 2013, as well as other background research. Lake Don Pedro Rate Comparability Analysis Page 31

2 rates vary based on the size of the slips, the 2014 average rate for private houseboat was $583 per month and $6,996 per year. Private Houseboat Buoy Moorage. marina. Private houseboat buoy moorage is not offered at this Other Services and Amenities. Willow Berm also provides covered and uncovered slips to berth smaller vessels, such as personal watercraft and fishing boats. The marina does not operate a boat repair and maintenance yard or dry boat storage, although many operators provide these services in the nearby area. Private houseboat owners are allowed to bring in mechanics and perform minor repairs while the boats are berthed at the slips. Mechanics and boat cleaning operators are allowed to come on site and perform limited work on the private houseboats in the water. There are five onsite fuel pumps and two boat launch ramps, which are services that are open to the public. Willow Berm provides very little in the way of food and beverage or retail service. There is a small space dedicated in the front office that sells a very limited amount of apparel, general supplies, candy bars and water. However, given the relatively urban location of the marina, numerous food and beverage and retail options are available in the nearby area. Note that the concessionaire does allow private houseboat owners to tie smaller vessels to the end of their houseboats when onsite. However, private houseboat owners are not allowed to permanently moor/tie smaller vessels to their houseboats and must rent out an individual small slip space for such purposes. Docks, Parking, Marina Access and Security and Protection. The docks were constructed in 1995 (although some portions are older than that) and appear to be in adequate condition. Based on conversation with the marina manager, there are no plans for major upgrades or expansion in the near future, aside from routine and ongoing repair and maintenance. As Willow Berm does not experience the same issues with water drawdown at the other marinas analyzed in this study, there is no apparent issue with accessing the docks and no steep grade. There is a significant amount of parking at the marina, with an approximate total of 266 parking spaces, many of which would be considered directly adjacent to the docks. A small amount of overflow parking is also available. Security and protection services include an on site watchman that patrols the marina facilities when the operation is closed. The operator also has security cameras, an alarm system and locked gates at all main entrances. Lake Don Pedro Rate Comparability Analysis Page 32

3 SUMMARY OF MARINA SERVICES, AMENITIES, FEATURES AND RATES The following provides a summary overview of the different services, facilities and rates at LDP Marina, MP Marina and the eight properties judged to be reasonably appropriate comparables. Services, Amenities and Features Checklist Exhibit 20 displays a checklist of services, amenities and features at each marina operation. Exhibit 20. Checklist of Services, Amenities and Features DON PEDRO LAKE MCCLURE NEW MELONES COMANCHE SHASTA DELTA Legend: Y=Yes N=No L=Limited Specific Marina Facilities and Features Moccasin Point Lake Don Pedro Barrett Cove McClure Point New Melones Comanche North Comanche South Shasta Marina Bridge Bay Rsrt. Willow Berm Slip and Buoy Moorage Rental Private Houseboat Slips Y Y Y Y Y N N Y Y Y Small Boat Slips Y Y Y Y Y Y Y Y Y Y Buoy Moorage Y Y Y Y Y Y Y N N N Dock Utilities Electrical (30 or 50 Amp Outlet Connection) Y Y Y Y Y Y Y N Y Y Water Y Y Y Y Y Y Y Y Y Y Sewage Pump Out Y Y Y Y Y Y Y Y Y Y Wireless Internet Connection at Marina L L Y N Y Y L N L Y Cell Phone Coverage L L L L L L L Y Y Y Additional Vessel Support Services at Marina Fuel Pumps Y Y Y Y Y Y Y Y Y Y Boat Launch Ramps Y Y Y Y Y Y Y N Y N Ferry Transport to Buoy Moorage Fields Y Y Y Y Y Y Y N N N Vessel Towing Services Y Y Y Y Y Y Y Y Y Y Vessel/Equipment Rental Houseboat Rental L Y L N Y N N Y Y N Smaller Boat Rental (fishing boats, kayaks, etc.) Y Y Y L Y Y Y Y Y N Boat Equipment Rental (i.e., life vests) Y Y Y L Y Y Y Y Y N Boat Yard (Repair, Maintenance and Cleaning) Repair and Maintenance Yard Open to HB Owners Y Y Y Y L L L N L N Certified Mechanics Available During Marina Hours L Y Y Y L N N N L N Dry Storage Facilities Covered Y Y N N Y N N N N N Uncovered Y Y Y Y Y Y Y N N N Food and Beverage Lake Don Pedro Rate Comparability Analysis Page 33

4 DON PEDRO LAKE MCCLURE NEW MELONES COMANCHE SHASTA DELTA Legend: Y=Yes N=No L=Limited Specific Marina Facilities and Features Moccasin Point Lake Don Pedro Barrett Cove McClure Point New Melones Comanche North Comanche South Shasta Marina Bridge Bay Rsrt. Willow Berm Grocery Items Y Y Y Y Y Y Y L Y N Limited F&B Service Cooked & Grab and Go Café/Snack Shop Y Y Y Y L Y Y N Y N Restaurant N N N N N Y N N Y N Ice Machines Y Y Y Y Y Y Y N Y Y Retail Marine/Boating Equipment and Supplies Y Y Y Y Y Y Y L Y L Gifts/Souvenirs Y Y Y Y Y Y Y L Y L Apparel/Clothing Y Y Y Y Y Y Y L Y L Overnight Accommodations Camping (RV and/or Tent) Y Y Y Y Y Y Y N N N Hotel/Motel/Cabin N N N N N Y Y N Y N Parking and Marina Access Parking Adjacent to HB Marina Docks (During High Water Levels) L Y Y Y L Y Y Y Y Y Paved Parking (Closest to HB Marina Docks) Y Y Y N N Y Y N Y Y Overflow Parking Available Y Y Y Y Y Y Y Y Y Y Additional Site Amenities and Features Restrooms (at Marina) Y Y Y Y Y Y Y Y Y Y Showers (At Marina or Immediately Adjacent) Y Y Y Y N Y Y N N Y Laundry Facilities (At Marina or Immediately Adjacent) N Y N N N Y Y N N Y ATM N N N N N Y Y N N N Picnic Site Area Y Y Y Y Y Y Y Y Y Y Designated Swimming Area N Y Y Y Y Y Y N N N Security Night Patrol/Watchman N Y L L L Y Y Y Y Y Lock/Coded Gate at Marina Entrance Y Y Y Y Y Y Y Y Y Y Security Camera Y Y Y Y N Y Y Y Y Y Alarm System Y N N N N Y Y Y N Y Hazard and Navigation Safety Signage for Hazard and Safety Navigation Y Y Y Y L Y Y Y Y Y Fire Protection and Water Equipment Y Y Y Y Y Y Y Y Y Y Permits and Fees Transferrable Houseboat Permits Y Y Y Y N Y Y Y Y N Vehicle Entrance Fee Y Y Y Y Y Y Y N N N Dock System Docks Constructed or Significantly Upgraded in Last 15 Years Y Y N Y Y Y Y Y Y N Hours of Operation Marina Facilities Open Year Round Y L Y L L Y L L Y Y Lake Don Pedro Rate Comparability Analysis Page 34

5 Current Rates for Private Houseboat Slips The following exhibit summarizes 2014 private houseboat monthly slip rates at each of the six marina operations (plus the two LDP marinas) analyzed which rent houseboat slips. The rates are presented in terms of the total monthly fee and in terms of dollars per square foot to enable an apples to apples comparison. It is important to emphasize that Dornbusch applied square footage calculations in determining slip sizes and not linear feet (which would only apply the length of the finger pier or length of the houseboat, and does not consider width). In determining length, Dornbusch applied the length of the houseboat (and did not consider the length of the finger pier). For LDP Marina, this calculation does not make a difference, as the maximum allowable boat length is 56, which is the length of the finger pier. However, for MP Marina, this does have an impact given that the length of the finger pier is 32. However, as 100% of the 20 houseboats at MP Marinna extend past the finger pier, slip renters are utilizing additional space. Based on information provided by the concessioner, approximately 60% of the houseboats are 55 to 56 long, and the remaining 40% are 50 to 54 long. The width calculations were more straightforward, with Dornbusch applying the full width of the slip. For all of the other comparable marinas, we applied the same assumptions, in that we applied square footage calculations (length of houseboat multiplied by the width of the slip). As several marinas do not have finger piers, such as the operations at Lake Shasta (Shasta Marina Resort and Bridge Bay), this allowed for more appropriate and equitable comparisons in rates. Note that Barrett Cove, McClure Point, New Melones, and Shasta Marina Resort offer slip renters the option of paying an up front total fee for the full year. However, since no rate discount for full annual payment is offered by the LDP concessionaire, the discounted rates at those marinas were not considered in this analysis. Exhibit 21. Private Houseboat Monthly Slip Rates January 2014 Marina Total HB Slips HB Slip Size Monthly Slip Rate Monthly Rate Per S.F. LDP X 56 (Single Loaded) $525 $0.36 MP X 56 HB < 20 $298 HB < 20 $0.24 (Double Loaded 13 ) HB > 20 $391 HB > 20 $0.27 Barrett Cove 8 48 X 58 (Double Loaded 14 ) $354 $0.25 McClure Point X 58 (Double Loaded) $354 $ Assumes double loaded slip can accommodate two vessels 20 x 56 in 22 x 56 slips. For vessels larger than 20 in width, it is assumed that one slip size would be 26 x 56 to accommodate one vessel 24 x 56 and another slip size would be 18 x 56 to accommodate one vessel smaller than 16 width. 14 Assumes double loaded slip can accommodate two vessels 20 x 58 in slips. Lake Don Pedro Rate Comparability Analysis Page 35

6 Marina Total HB Slips HB Slip Size Monthly Slip Rate Monthly Rate Per S.F. New Melones X 56 $395 $0.41 Shasta Marina Resort X 56 $460 $0.48 Bridge Bay X 56 $560 $0.59 Willow Berm X 56 $583 $0.58 Current Rates for Private Houseboat Buoy Moorage The following exhibit summarizes 2014 private houseboat monthly buoy rates at each of the five marina operations (plus the two LDP marinas) analyzed which rent houseboat mooring buoys. Note that Barrett Cove, McClure Point, New Melones, and Camanche North and Camanche South offer buoy renters the option of paying a one time up front total fee for the full year. However, since no slip rate discount for full annual payment is offered by the LDP concessionaire, the discounted rates at those marinas were not considered in this analysis. Exhibit 22. Private Houseboat Monthly Buoy Moorage Rates January 2014 Total Buoy Mooring Marina Balls 16 Buoy Mooring Size 17 Monthly Buoy Rate Monthly Rate Per Square Ft. LDP x 56 $258 $0.21 MP x 56 $258 $0.21 Barrett Cove x 58 $298 $0.26 McClure Point x 58 $298 $0.26 New Melones x 56 $313 $0.37 Camanche North Shore Camanche South Shore x 55 $325 $ x 55 $325 $ There is no official size limit on the Delta. The largest houseboat length at Willow Berm is 78, However, the majority of houseboats are smaller than this (between 50 to 60 ). 16 Note that this denotes the number of buoy ball moorings at the closest buoy field to the marina. 17 As there is not an exact square footage calculation for buoy mooring, it is assumed each space is the maximum allowable houseboat size at each marina operation. Lake Don Pedro Rate Comparability Analysis Page 36

7 CRITERIA FOR QUALITATIVE PARAMETER SCORING The following section details the criteria used to determine the point value spread for rating the relative quality of each parameter (service, amenity or quality feature). The parameters listed are considered the factors that likely affect the rates charged for private houseboat slip and/or buoy moorage to some, but varying, degree. Point spreads were characterized into three main categories to help classify the quality level of a given service, amenity or feature: Low, Moderate and High. Low scores under a given parameter received 1 to 3 points, Moderate scores received 4 to 6 points and High scores received 7 to 9 points. While some of the parameters can be characterized and rated objectively (such as the number of small boat slip spaces available), some clearly require more subjective evaluation (such as the condition of marina facilities), requiring judgment. Note that the same Dornbusch staff evaluated all the marinas presented in the comparability matrix to ensure consistency with the scoring process. Marina Services Utilities. The following classifies the level of utility services available at each marina operation: Exhibit 23. Utility Services Low (0 3 pts) Moderate (4 6 pts) High (7 9 pts) At least one of the main utility services (electrical, water and sewage pump out) is not provided at or nearby the houseboat docks. Additional features, such as wireless internet connection or cell phone coverage, are not provided or have limited capabilities. All main utility services (electrical, water and sewage pump out) are provided at or nearby the houseboat docks. Extra features, such as wireless internet connection or cell phone coverage, are not provided or have limited capabilities. Shasta Marina Resort LDP, MP, Barrett Cove, McClure Point, New Melones, Camanche North, Camanche South, Bridge Bay All of the main utility services (electrical, water and sewage pump out) are provided at or nearby the houseboat docks. Extra features, such as wireless internet connection or cell phone coverage, are provided with moderate to high service levels. Willow Berm Repair and Maintenance. The following classifies the level of repair and maintenance services at each marina operation: Lake Don Pedro Rate Comparability Analysis Page 37

8 Exhibit 24. Repair and Maintenance Services No boat yard available on site or boat yard onsite that has significant restrictions (in terms of allocated space, operating hours, type of work performed, etc.) concerning private houseboat owners use. Boat yard onsite that has moderate restrictions (in terms of allocated space, operating hours, type of work performed, etc.) concerning private houseboat owners use. Boat yard onsite that has few to no restrictions (in terms of allocated space, operating hours, type of work performed, etc.) concerning private houseboat owners use. Camanche South, Shasta Marina Resort, Willow Berm New Melones, Camanche North, Bridge Bay LDP, MP, Barrett Cove, McClure Point Small Boat Slip Rental. The following classifies the number of slips available for small vessels (pwc, fishing, ski, etc.) at each marina operation: Exhibit 25. Boat Slips for Small Vessels 0 50 slips available for small vessels. May be covered or uncovered slips available for small vessels. May be covered or uncovered. 101 or more slips available for small vessels. May be covered or uncovered. MP, Barrett Cove, MClure Point, Camanche North, Camanche South New Melones, Shasta Marina Resort LDP, Bridge Bay, Willow Berm Dry Boat Storage. The following classifies the level of dry boat storage services available at each marina operation: Exhibit 26. Dry Boat Storage Services 0 50 dry storage units available. May be enclosed or open dry storage units available. May be enclosed or open. 101 or more dry storage units available. May be enclosed or open. Barrett Cove, McClure, Camanche South, Shasta Marina Resort, Bridge Bay, Willow Berm MP, Camanche North LDP Boat Rental. The following classifies the level of boat rental (small boat, houseboat, boat equipment) services available at each marina operation: Lake Don Pedro Rate Comparability Analysis Page 38

9 Exhibit 27. Boat Rental Services Limited inventory and number of boat rentals. May offer small boat rental and equipment rental but does not offer houseboat rentals. Moderate inventory and number of boat rentals. Offers houseboat rentals in addition to small boat and boat equipment rental. McClure Point, Camanche North, Camanche South, Willow Berm MP, Barrett Cove, Shasta Marina Resort Large inventory and number of boat rentals. Offers houseboat rentals in addition to small boat and boat equipment rental. LDP, New Melones, Bridge Bay Additional Vessel Services. The following classifies the level of additional boat services (fuel docks, launch ramps, boat towing services) available at each marina operation. Exhibit 28. Additional Vessel Services Moderate level of Limited additional vessel additional vessel services. services. For example, may Includes at least one fuel offer fuel pumps and boat pump and one launch ramp, towing, but no launch ramps. as well as boat towing. well as boat towing. Camanche South, Willow Berm, Shasta Marina Resort MP, Lake McClure, New Melones, Camanche South High level of additional vessel services. Includes more than two fuel pumps and two launch ramps, as LDP, Barrett Cove, Bridge Bay Food and Beverage. The following classifies the level of food and beverage services (grocery, café/snack bar, and restaurant) available at each marina location: Exhibit 29. Food and Beverage Only offers very limited grocery items. Moderate level of food and beverage options, such as a café and/or snack shop, as well as sale of groceries at marina store. No fullservice restaurant. High level of food and beverage options, such as a café and/or snack shop, sale of groceries at marina store, and full service restaurant. Willow Berm MP, LDP, Shasta Marina Resort, New Melones, Barrett Cove, McClure Point, Camanche South Camanche North, Bridge Bay Lake Don Pedro Rate Comparability Analysis Page 39

10 Retail. The following classifies the level of retail services available at each marina location: Exhibit 30. Retail Limited retail options. Willow Berm Moderate inventory and square footage of retail services, such as sale of boat supplies, apparel, souvenirs and gifts. MP, LDP, Shasta Marina Resort, New Melones, Barrett Cove, McClure Point, Camanche South, Camanche North High level of retail options, such as sale of boat supplies, apparel, souvenirs and gifts (inventory and square footage). May be more than one location that such services are offered. Bridge Bay Camping. The following classifies the amount of camping services adjacent to each marina location: Exhibit 31. Camping No camping facilities and services offered. Camping facilities and services, but less than a 150 sites. Both full and nonelectrical hookups. Camping facilities and services, with 150 sites or more sites. Full and nonelectrical hookups. Shasta Marina Resort, Willow Berm, Bridge Bay MP, McClure Point, Camanche North LDP, Barrett Cove, New Melones, Camanche South Additional Recreation Services. The following classifies the availability of additional recreation services (i.e., picnic sites, swimming area, and sports infrastructure) at each marina location: Exhibit 32. Additional Recreation Services High range of recreational services, such as picnic Limited range of additional Moderate range of sites, designated recreational recreational services, such swimming area, etc. May services/facilities. Does not as picnic sites, designated offer additional features have a picnic area. swimming area, etc. such as tennis courts, playground, lounge, etc. Lake Don Pedro Rate Comparability Analysis Page 40

11 MP, Barrett Cove, McClure LDP, Willow Berm, Bridge Shasta Marina Resort Point, New Melones, Bay, Camanche South Camanche North Additional Support Amenities. The following classifies the level of additional support amenities (restrooms, showers, laundry, ATM) at each marina location: Exhibit 33. Additional Support Amenities Providing none or only one of the following amenities: restrooms, showers, laundry and ATM. Providing at least two of the following amenities: restrooms, showers, laundry and ATM. Providing at least three of the following amenities: restrooms, showers, laundry and ATM. Shasta Marina Resort, Bridge Bay Parking and Accessibility to Marina MP, New Melones, Barrett Cove, McClure Point LDP, Willow Berm, Camanche North, Camanche South Parking. The following classifies the amount of parking services available at each marina operation: Exhibit 34. Parking Parking that is not considered directly adjacent to the marina during high water levels or considered adequate (given demand). May or may not be paved. Adequate parking (given demand) that is directly adjacent to the marina during high water levels but is not paved. Overflow parking is available. Adequate parking (given demand) that is directly adjacent to the marina during high water levels that is paved. Overflow parking is available. MP, McClure Point, New Melones, Shasta Marina Resort LDP, Barrett Cove, Camanche North, Camanche South, Bridge Bay, Willow Berm Accessibility to Marina. The following classifies the level of accessibility (in terms of grade of road and difficulty of traveling up and down a slope to the docks) at each marina operation: Exhibit 35. Marina Accessibility Steep grade and difficult decline of road to docks Moderate grade and moderate to difficult Low to no grade and easy access on road to docks Lake Don Pedro Rate Comparability Analysis Page 41

12 throughout the year decline on road to docks throughout the year. (regardless of water levels). during low water levels. MP, LDM, Barrett Cove, McClure Point, New Melones, Camanche North, Camanche South, Shasta Marina Resort, Bridge Bay Willow Berm Security and Safety Features Security. The following classifies the level of security services (alarm system, night patrol, cameras, locks, etc.) at each marina operation: Exhibit 36. Security Provides two or less of the following services: night patrol, security camera, alarm system and locks at dock entrance gates. Fire suppression system is provided. Provides three of the following services: night patrol, security camera, alarm system and locks at dock entrance gates. Fire suppression system is provided. Provides all four of the following services: night patrol, security camera, alarm system and locks at dock entrance gates. Fire suppression system is provided. Marina Facility Characteristics MP, LDP, Barrett Cove, New Melones Camanche North, McClure Point, Bridge Bay Shasta Marina Resort, Camanche South, Bridge Bay Docks System. The following classifies the level of dock system quality, especially considering how recently components have been replaced: Exhibit 38. Condition of Docks Dock system has not been Dock system has been Dock system has been replaced or significantly replaced or significantly replaced or significantly upgraded in the last sixteen upgraded in the last 10 to upgraded in the last nine or more years. Docks appear 15 years. Docks appear to years. Docks appear to be to be old and in need or some be in moderate condition in good condition. level of repair. with some level of wear. MP, Barrett Cove, McClure Point, Shasta Marina Resort, Bridge Bay, Willow LDP, New Melones, Camanche North, Camanche South Lake Don Pedro Rate Comparability Analysis Page 42

13 Berm Finger Piers. The following classifies the quality of protection and access to houseboats from docks as provided by fingers piers at each marina operation. Exhibit 39. Finger Piers Finger piers for houseboat Finger piers for houseboat No finger piers for houseboat slips but vessels typically slips that vessels typically slips. extend past the pier by extend past the pier. more than 10%. Shasta Marina Resort, Bridge Bay MP LDP, Barrett Cove, McClure Point, New Melones, Willow Berm Other Marina Facilities. The following classifies the visible condition of the overall marina facilities (other than the docks) at each marina operation: Exhibit 40. Condition of Other (non Dock) Marina Facilities Visible condition of the Visible condition of the marina facilities (not marina facilities (not Poor visible condition of the including docks) indicates including docks) indicates marina facilities (not facilities are relatively well facilities are very well including docks). maintained with moderate maintained with some level of wear. level of wear. Additional Fees and Permits MP, LDP, Barrett Cove, McClure Point, New Melones Bridge Bay, Shasta Marina Resorts, Willow Berm, Camanche North, Camanche South Vehicle Entrance Fees. The following addresses vehicle entry fees at each marina operation: Exhibit 41. Vehicle Entrance Fees Daily vehicle entrance fees with no discount for seasonal or annual use. Vehicle entrance fee with discount given for seasonal or annual use. No vehicle entrance fee. Lake Don Pedro Rate Comparability Analysis Page 43

14 MP, LDP, Barrett Cove, McClure Point, New Melones, Camanche North, Camanche South Shasta Marina Resort, Bridge Bay, Willow Berm Private Houseboat Permits. The following addresses the requirement for houseboat permits and their transferability at each marina operation: Exhibit 42. Private Houseboat Permits Permit required for private houseboats that is nontransferrable. Permit is required for private houseboat that is transferrable. May or may No permit is required. not have an annual fee and/or transfer fee. New Melones MP, LDP, Barrett Cove, McClure Point, Camanche North, Camanche South, Shasta Marina Resort, Bridge Bay Willow Berm Demand Considerations Average Annual Visitation. The following classifies the level of annual visitation at each lake/river where each of the marina operations is located: Exhibit 43. Annual Historical Visitation Lake or river receives average annual visitation of less than 500,000 (historical average). Assumed limited level of additional services in regional area. Lake or river receives average annual visitation of more than 500,000 but less than 1 million (historical average). Assumed moderate level of additional services in regional area. Lake or river receives average annual visitation of 1 million or over. Assumed high level of additional services in regional area. MP, LDP, Camanche North, Camanche South Barrett Cove, McClure Point, New Melones Shasta Marina Resort, Bridge Bay, Willow Berm Lake Don Pedro Rate Comparability Analysis Page 44

15 Environmental Considerations Scenic Environment. The following classifies the level of the environmental quality (in terms of the desirable access to nature/wilderness versus the undesirable effect of environmental disturbances) at each marina operation. Exhibit 44. Scenic Environment No close access to wilderness/nature. In relatively urban setting with some level of noise pollution in the nearby area. Close access to wilderness/nature. Mild to moderate level of environmental disturbance (i.e., noise pollution). Immediate access to wilderness/nature. Very little environmental disturbance (i.e., noise pollution). Willow Berm, Bridge Bay MP, LDP, Barrett Cove, McClure Point, New Melones, Camanche North, Camanche South, Shasta Marina Resort Water Level Conditions. The following classifies the influence of water level and its effects at each marina operation. Exhibit 45. Current Water Level Conditions Currently water capacity Currently water levels are Water levels are slightly levels are significantly lower moderately lower than lower than historical than historical averages (by historical averages (by 20 averages or at historical more than 20 percentage percentage points or averages. points). lower). MP, LDP, Barrett Cove, McClure Point, New Melones, Camanche North, Camanche South Lake Shasta, Bridge Bay Willow Berm Lake Don Pedro Rate Comparability Analysis Page 45

16 COMPARABILITY MATRICES Based on the parameters described above and relevant information collected for those parameters at each marina, Dornbusch developed a summary comparability matrix. Note that Dornbusch created two separate matrices, one for private houseboat slips and one for buoy moorage. For each matrix, the Lake Don Pedro concessionaires are listed first on the horizontal axis of the matrix (MP Marina and LDP Marina), followed by the comparable marinas. The vertical axis of the matrix lists the parameters for which the marinas are scored based on the points applied for each level (Low, Medium, High) of a given service, amenity or feature. In addition to assigning each of the marinas parameters a rating (1 to 9), the matrix presents the assigned relative weighting of each parameter, thereby reflecting the relative importance of each. In other words, the weighting expresses the degree of value perceived by houseboat owners of a service, amenity or feature. For example, in conducting interviews with the marina operators, on average, private houseboat owners are more likely to regularly use, and therefore value, food and beverage services over boat rental services (such as houseboat or ski boat rental). As such, food and beverage is assigned a higher weighting relative to boat rental. Based on the combined ratings and weightings of each parameter for each marina, as compared with those ratings and weightings for the LDP marinas, we determined the relative representativeness of the houseboat slip and buoy rates of the comparable marinas in other words, their relative comparability. Clearly, the process of scoring (applying a parameter rating and a weighting) is hardly an exact science, relying as it does on subjective judgment. These judgments were derived from interviews and surveys of both houseboat owners and others familiar with houseboat owners preferences, including marina operators, as well as our own professional judgment and experience in evaluating the relative attraction of, and competitive rates at, numerous marinas nationwide. Still, we recognize that a reader may wish to apply their own judgments about those ratings and weightings, and therefore how those measures influence the relative importance of slip and buoy rates at those marinas. Therefore, we present both our process and the values applied for the readers consideration. Exhibit 46 presents the Rate Comparability Matrix for Private Houseboat Slips. As shown, multiplying the ratings and weightings for each parameter, then summing the products for each parameter, yielded the MP Marina a total score of 166 and the LDP Marina a total score of 203. Scores for houseboat slips at the other marinas reflect their relative comparability a higher score indicating a somewhat higher perceived quality for houseboat slip renters. Exhibit 47 presents the Rate Comparability Matrix for Private Houseboat Buoy Moorage. As shown, a similar process yielded the MP Marina a total score of 150 and LDP Marina a total score of 176. Total scores are different from the scores received for private houseboat slips, as Dornbusch assigned different parameter weightings to Utilities, and Docks. Additionally, Finger Piers were not included as a criterion for buoy moorage as this service is not applicable. Other than this, all criteria and parameter weightings are the same in each matrix. Lake Don Pedro Rate Comparability Analysis Page 46

17 Exhibit 46. Comparability Matrix for Moccasin Point and Don Pedro Marina Private Houseboat Slips Barrett McClure New Weighting MP LDP Cove Point Melones Shasta Marina Res. Bridge Bay Marina Services Utilities Repair/Maintenance Small Boat Slip Dry Boat Storage Boat Rental Additional Vessel Services Food and Beverage Retail Camping Additional Recreation Facilities Additional Support Services Parking and Accessibility Parking Access to Marina Security and Safety Safety and Security Features Marina Facility Characteristics Docks System Finger Piers Other Marina Facilities Additional Fees and Permits Vehicle Entrance Fee Private HB Permitting Demand Annual Average Visitation Environmental Scenic Environment Water Level Conditions TOTAL SCORE Willow Berm Lake Don Pedro Rate Comparability Analysis Page 47

18 Exhibit 47. Comparability Matrix for Moccasin Point and Don Pedro Marina Private Houseboat Buoy Moorage Barrett McClure New Camanche Weighting MP LDP Cove Point Melones North Camanche South Marina Services Utilities Repair/Maintenance Small Boat Slip Dry Boat Storage Boat Rental Additional Vessel Services Food and Beverage Retail Camping Additional Recreation Amenities Additional Support Services Parking and Accessibility Parking Access to Marina Security and Safety Safety and Security Features Marina Facility Characteristics Docks System Other Marina Facilities Additional Fees and Permits Vehicle Entrance Fee Private HB Permitting Demand Annual Average Visitation Environmental Scenic Environment Water Level Conditions TOTAL SCORE Lake Don Pedro Rate Comparability Analysis Page 48

19 ANALYSIS OF TOTAL SCORING TO RATES After developing the comparability matrices, Dornbusch then sought to understand how the marinas respective scores compared to its current rates for slip space and/or buoy moorage. Presumably, those marinas charging higher rates offer (overall) a greater range and higher quality of amenities, services and features (reflected inn relative higher total scoring) than the marinas charging lower rates. The validity of this assumption is tested in our analyses below. Note that Dornbusch focused the analysis on monthly rates charged for slip and buoy moorage in developing recommended rates at MP and LDP. However, as noted previously, some of the operators at the comparable marinas analyzed offer discounts to houseboat slip and/or buoy renters that pay for the full year in advance. As the LDP concessionaires do not offer such a discount, the lower/ discounted rates at those marinas were not considered in this analysis. Private Houseboat Slips Exhibit 48 provides a graphical comparison of the respective marinas total comparability scores (in blue) to the rates those marinas charge (in red) in terms of rate per square foot for private houseboat slips. The exhibit shows that monthly rates per square foot are closely aligned with the levell of services, amenities and features offered at New Melones, Shastaa Marina, Bridge Bay and Willow Berm. Discrepancies between rates and scoring exist at MP, LDP, Barrett Cove and McClure Point, which indicates that rates at these operations are below the rates charged at comparable marinas. Exhibit 48. Comparison of Scoring to Monthly HB Slip Rates Lake Don Pedro Rate Comparability Analysis Page 49

20 Slip Rate Determinations for Moccasin Point (MP) Marina Exhibit 49 demonstrates how the recommended monthly slip rates at MP were determined. The rate was derived from the relative scoring of MP to the other marinas that provide private houseboat slips. For example, Barrett Cove s total score of 195 points is 30 points higher than MP s total score of 166. Therefore, MP s overall level of services, amenities and features are considered to be 85% as good as Barrett Cove s (166/195). This percentage was multiplied by Barrett Cove s current slip rate per square foot ($0.25), to calculate what Barrett Cove s adjusted slip rate would be if only considered relative to MP. This yields a presumed monthly rate per square foot of $0.22. The same methodology was applied to the other marinas. An average for the comparable marinas was then calculated to judge an appropriate monthly slip rate. This yields a recommended monthly slip rate for houseboat < 20 of $0.36/square foot ($448). This is 50.3% more than current slip rate of $298 at MP Marina for HB < 20. Again, the significant increase is due to the applying slip rate calculations that are based on total square footage of occupied space. For HB > 20, the projected monthly rate would be $529, which is 35.3% higher than current rates of $391. Exhibit 49. Monthly Rate per Square Foot Determination for MP HB Slips MP Barrett McClure New Shasta Bridge Willow Cove Point Melones Marina Bay Berm Total Score Rate per S.F. $0.24 $0.25 $0.25 $0.41 $0.48 $0.59 $0.58 MP Score Relative to Comp. 85% 93% 92% 99% 77% 73% Rate x Relative Score $0.22 $0.24 $0.38 $0.48 $0.45 $0.42 MP Avg. Monthly Rate per S.F. $0.36 MP Monthly Rate HB < 20 $448 MP Monthly Rate HB > 20 $529 Slip Rate Determinations for Lake Don Pedro (LDP) Marina Following the same methodology as the MP Marina, Exhibit 50 shows slip rate determinations at LDP Marina for private houseboat renters that would pay monthly. An average was taken of the adjusted rates to calculate a monthly rate per square foot of $0.44. Another issue to consider is that LDP Marina has unusually large houseboat slip sizes (26 x 56 ) as compared to the other marinas, with a total square footage of 1,456. For comparison, the next largest slip size within the comparable marinas is Barrett Cove and McClure Point, which have 22 X 56 slips, yielding a total square footage of 1,392. However, the Board of Control recently approved a maximum width of 24' strictly at the houseboat docks at LDP Marina (for the rest of the lake, the width requirements remain at 22 ). Operating under the assumption that slips are typically two feet wider than the maximum allowable houseboat width, calculating the full square footage of the 26 x 56 slip is considered appropriate and reasonable. It is understood that there are currently no houseboats at the docks that are 24, although the concessioner indicated that there are several houseboat owners that are interested in expanding their boats to this new approved width. This yields a recommended monthly rate for LDP slips of $646, which is 23.0% higher than current slip rate at LDP of $525. Lake Don Pedro Rate Comparability Analysis Page 50

21 Exhibit 50. Monthly Rate per Square Foot Determinatio on for LDP Marina HB Slip Rates LDP Barrett McClure New Shasta Bridge Willow Cove Point Melones Marina Bay Berm Total Score 2014 Rate Per S.F. LDP Score Relative to Comp. Rate x Weight LDP Avg. Monthly Rate per S.F. LDP Monthly Rate 203 $ $ % $ $ % $ $ % $ $ % $ $ % $ $ % $0.51 $0.44 $646 Private Houseboat Buoy Mooring Exhibit 51 compares the total comparabilit ty scores for each marina (in red) to the monthly dollars per square foot it charges for private houseboat buoy rates (in blue). Square footage determinations weree based on the maximum allowable houseboat size. We recognizee that buoys are not charged by such area, but the conversion was necessary to make comparisons. The exhibit indicates that monthly rates per square foot are moderately aligned with the level of services, amenities and features offered at MP, Barrett Cove, McClure Point and Camanche North. Discrepancie es between scoring and rates exist most strongly at LDP, New Melones and Camanche South. Note however that while LDP buoy rates are considered low as compared to its relative scoring, rates at New Melones and Camanche South are considered high as compared to their relative scoring. Exhibit 51. Comparison of Scoring to Monthly HB Buoy Rates Lake Don Pedro Rate Comparability Analysis Page 51

22 Rate Determinations for Moccasin Point (MP) Marina As shown in Exhibit 52, recommended monthly buoy rates at MP were determined by analyzing the relative comparability scoring of MP to the other marinas considered that provide private houseboat buoy moorage (applying the same methodology as for determining appropriate slip rates). An average was taken of the adjusted rates to arrive at a monthly rate per square foot of $0.30, which yields a rate of $370 per month. This rate is 43.4% higher than current rates of $258 at MP Marina. Exhibit 52. Monthly Rate per Square Foot Determination for MP HB Buoy Mooring MP Barrett McClure New Camanche Camanche Cove Point Melones North South Total Score Rate per S.F. $0.21 $0.26 $0.26 $0.37 $0.37 $0.37 MP Score Relative to Comp. 87% 96% 97% 88% 93% Rate x Relative Score $0.22 $0.25 $0.36 $0.32 $0.34 MP Avg. Monthly Rate per S.F. $0.30 MP Monthly Rate $370 Rate Determinations for Lake Don Pedro (LDP) Marina Following the same methodology explained above, Exhibit 53 shows monthly buoy moorage rate recommendations for LDP Marina. An average was taken of the adjusted rates to arrive at a monthly rate per square foot of $0.35, which yields a rate of $434 per month. This rate is 68.2% higher than current rates at LDP Marina of $258. Exhibit 53. Monthly Rate per Square Foot Determination for LDP Marina HB Buoy Moorage MP Barrett McClure New Camanch Camanche Cove Point Melones e North South Total Score Rate per S.F. $0.21 $0.26 $0.26 $0.37 $0.37 $0.37 LDP Score Relative to Comp. 102% 113% 114% 103% 109% Rate x Relative Score $0.26 $0.29 $0.43 $0.38 $0.40 LDP Avg. Monthly Rate per S.F. $0.35 LDP Monthly Rate $434 Lake Don Pedro Rate Comparability Analysis Page 52

23 CONCLUSION Exhibit 54 summarizes the recommended rates for private houseboat slips at MP and LDP (in red) based on the analysis and methodology applied in this Rate Comparability Study. Current 2014 rates at the two marinas are also shown for comparison. As shown, the rates recommended at MP Marina is $448 per month for HB < 20 and $529 for HB > 20. At LDP Marina, the recommended rate is $646 per month. Exhibit 54. Recommended Rates for Private Houseboat Slips at MP and LDP Recommended Recommended Current (2014) Marina HB Slip Size Monthly Slip Rate Rate Per S.F. Monthly Slip Rate 44 X 56 HB < 20 $448 HB < 20 $0.36 HB < 20 $298 MP (Double Loaded) HB > 20 $529 HB > 20 $0.36 HB > 20 $391 Current (2014) Rate Per S.F. HB < 20 $0.41 HB > 20 $0.41 LDP 26 X 56 $646 $0.44 $525 $0.36 Exhibit 55 summarizes the recommended rates for private houseboat buoy moorage at MP and LDP (in red) based on the analysis and methodology applied in this Rate Comparability Study. Current 2014 rates at the two marinas are also shown for comparison. Note that the LDP concessioner currently charges the same rate regardless of whether the buoy fields are located closer to MP or LDP. However, given that buoy renters have closer access to different marinas on Lake Don Pedro that differ somewhat in the type and level of services, amenities and features offered, it would then make sense that rates not necessarily be the same to reflect these differences. Following this rationale, monthly buoy mooring rates at MP Marina are recommended to be $370 per month. At LDP Marina, buoy mooring rates are recommended to be $434 per month. Exhibit 55. Recommended Rates for Private Houseboat Buoy Moorage Buoy Size (based Recommended Recommended Current (2014) Marina on max. vessel size) Monthly Slip Rate Rate Per S.F. Monthly Slip Rate Current (2014) Rate Per S.F. MP 22 X 56 $370 $0.30 $258 $0.21 LDP 22 X 56 $434 $0.35 $258 $0.21 Lake Don Pedro Rate Comparability Analysis Page 53

24 APPENDIX A PHOTOS OF MARINA OPERATIONS Lake Don Pedro Rate Comparability Analysis Page 54

25 Lake Don Pedro Rate Comparability Analysis Page 55

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28 Lake Don Pedro Rate Comparability Analysis Page 58