1_LBBJ_Feb18_SectionA_LBBJ MASTER LAYOUT 2/17/14 9:28 AM Page 6
NEWSWATCH 6 Long Beach Business Journal
February 18-March 3, 2014 other port authorities having the ability to do what we’re doing here.â€? He added that the plan to pay off the debt helps the port remain competitive. “I, too, worry to some degree as we’re spending all of this money at this time to remain competitive. It is still frightening a bit,â€? Long Beach Harbor Commission President Doug Drummond commented at the meeting, but added that the report from Rubin, Joumblat and the financial team was “excellent.â€? â–
Long Beach City Hall News In Brief ■By SAMANTHA MEHLINGER Staff Writer Port of Long Beach CFO Sam Joumblat, left, and the port’s managing director of finance and administration, Steven Rubin, look over documents related to the port’s debt profile. On February 10, Joumblat gave the Long Beach Board of Harbor Commissioners a rundown of the port’s debt and how it will be paid off by 2051. (Photograph by the Business Journal’s Thomas McConville)
Port Debt (Continued From Page 5)
AA from Fitch Ratings, Aa2 from Moody’s Investor Service and AA from Standard & Poor’s. The Port of Los Angeles holds the same ratings. Joumblat said these are “the strongest seaport ratings in the United States.� While all these agencies list the port’s revenue stream stability and increasing cargo traffic as strengths, in comparison to other U.S. ports, concerns cited in the
Ball Field Maintenance Services SWAT Rifles Naples Island Seawall Repairs Buoys and other Barrier Floats Roach Control Service Water Main Bridge Crossings Repair Architectural Srvcs, Marine Stadium Gas Main and Service Lines Law Enforcement Searchlight System RFQ for Solar Power Purchase
port’s debt profile include past labor and traffic congestion issues, competition from other ports due to the Panama Canal expansion and potential weakened trade from Asia due to “sustained economic downturns in that region.� Rich Dines, vice president of the Long Beach Board of Harbor Commissioners, remarked during a debt presentation at the harbor commission last week that the port’s debt keeps him up at night. Still, he told Joumblat, “I really feel that you put us in a great position, and I don’t see
ITB PR-14-054 ITB PD 14-049 R-6983 ITB PR-14-044 Water Department WD-06-14 RFP PR-14-031 ITB GO-14-059 ITB PD-14-060 RFQ PW-14-036
2/18/14 2/18/14 2/20/14 2/20/14 2/21/14 2/24/14 2/27/14 3/05/14 3/06/14 3/07/14
UPCOMING BID OPPORTUNITIES Historical Preservation Services Surveillance Vehicles Personal Watercraft Physician Services Polygraph Services Psych Eval Services Bidder Registration Register with the City of Long Beach at www.longbeach.gov/purchasing to receive notifications of bid opportunities. Additional details on upcoming bids and how to register can be found on the website. Small Business Enterprise Program Take advantage of the City of Long Beach Small Business Enterprise (SBE) Program. To learn more about becoming a part of the SBE Program and certification process, visit the City’s Purchasing website. HUD Section 3 Program The City of Long Beach Section 3 Program provides economic and employment opportunities to low-income residents and businesses. More information is located on the City’s Purchasing website.
www.longbeach.gov/purchasing
www.longbeach.gov/pw/towing/auction.asp
Online City Expenditures – Tonight (February 18) the Long Beach City Council votes on an item from 5th District Councilmember Gerrie Schipske requesting that the city manager provide information on the cost and feasibility of using a website called OpenGov to post the city’s expenditures online. The platform allows public access to revenue and expenditure data by fund, department or type of account. So far, 62 cities in the U.S. use the online platform, according to Schipske’s memo. Gas Rate Increases – The council votes tonight on allowing gas utility rate increases of about 86 cents per month to fund costs associated with federal regulation compliance. These regulations mostly involve replacing aging gas delivery infrastructure and ensuring the safety of that infrastructure. $900,000 In Grants For Trail Projects – The city council votes tonight to accept $900,000 from the Los Angeles County Regional Park and Open Space District for three park trail projects and to execute any documents necessary to administer these projects. The grants fund the Drake/Chavez Greenbelt trail, Pacific Electric Right-ofWay trail and the Wrigley Greenbelt trail. $5 Million For Concrete Repairs – The city council approved a $5 million increase to a contract with CJ Concrete Construction, Inc. on February 11, bringing the total contract amount to $13 million. The company provides concrete repairs and related improvements for the city. Medical Bill And Ballot Opposition – On February 4, the council voted 5-3 to oppose bills and measures that would
Join Our Academy Awards A wards P Pool ool
weaken the Medical Injury Compensation Reform Act of 1975. The act is meant to ensure that injured patients are fairly compensated, that medical liability rates are kept in check and that frivolous lawsuits are limited, according to a resolution drafted by the city attorney. Schipske, 7th District Councilmember James Johnson and 8th District Councilmember Al Austin dissented. Ninth District Councilmember Steven Neal was absent. Medical Marijuana Ballot Label Approved – As part of its consent calendar, the city council approved a ballot label for Measure A, a marijuana tax initiative, to be included on the April 8 primary nominating election ballot. The label asks if the city should impose a general tax on marijuana businesses set at $15 to $50 per square foot annually. $10 Million In Project Management Contracts – With four councilmembers absent, remaining city councilmembers approved $10 million in contracts for project management services related to city capital improvement projects on February 4. The contracts are with five firms and each lasts two years. Contract To Replace City Systems – A $457,620 contract with Plante & Moran, PLLC for professional consulting services related to replacing systems for the city’s finance and human resources departments was approved by the city council on February 4. The city council approved a plan to replace these departments’ management systems as part of the 2014 fiscal year budget. More Than $1 Million For Computers – On February 4, the city council approved a $1,157,552 contract with Paradigm System Solutions for the purchase of Toughpad mobile computers. The computers are for use in fire, harbor and police department vehicles. The contract is funded by the Urban Area Security Initiative Grant. Redondo Avenue Improvements – A project to improve Redondo Avenue begins this week, according to a press release from the City of Long Beach. Work includes replacing damaged curbs, gutters, driveways, alley entrances and sidewalks, shaving tree roots, reconstructing deteriorated pavement, resurfacing pavement, and installing pavement markings, striping and signage. “We continue to move forward with infrastructure improvements, and this important project will improve another major thoroughfare in our city,â€? Mayor Bob Foster said in the statement. â–
Go to ribcompany.com ompany.com to enter. Great Rib Co. Prizes!
‡ $OVR )HDWXULLQQJ 6WHDNV 7UL 7LS &KLFFNHQ 3ULPH 5LEE )UHVK )LVVK 6DQGZLFFKHV 6DO ‡ )DPLOO\ 2ZQHG 2SHUDWHG ‡ .LGœV 0HQXV ‡ &RFNWDLOO /RXQJH ZLWK 7 9 œV ‡ 7DEOHVLGGH 0DJLFF 6XQGD\ 1LJJKWVV ‡ :DUP &RPIRUWDEOH %RRWKV ‡ 5HVHUYDWLRRQV $FFHSWHG ‡ 'LQQH ,Q 2SHQ DW SP 0RQ )UL ‡ 2SHQ DW 1RRQ 6DW DQG 6XQ ‡ 7DNH 2XW $YDLODEOH 'DLO\ DW DP ‡ %XFNHWVV 3DUW\ 3DNV DQG 7UD\V ‡ +DSS\ +RXU 0 7+ 30 6DW 6XQ 30
Coupon p
Expires 03/04/2014
offf our just intr introduced $5 of oduced Piglet Pak* Pig let P ak*
Ribs/Chic Ribs/Chicken/Sausages/Brisket/Cornbread ken/Sausages/Brisket/Cornbread & 2 side or orders ders for for o 3-4 3-4 (*or an any y or order der of $40 or more) Cannot be combined with any other offer, coupon or discount.
LBBJ