Everett Port Commission at Port Of Everett

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This document is an agenda item cover sheet for a proposed Fourth Amendment to a lease agreement between the Everett Port Commission (seller) and the State of Washington Everett Community College (buyer). It outlines the extension of the existing lease for Suites 201-203 in the Waterfront Center Building for an additional 60-month term, effective September 1, 2024, at a gross rental rate of $20,792.50 per month. The amendment formalizes the tenant's notice to extend the term.

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This document details the Third Amendment to Lease between Everett Port Commission and West Coast Yacht Sales LLC for Suite 102-C at 1205 Craftsman Way. The amendment renews the lease for a 12-month term, commencing May 1, 2025, at a base rent of $32.28 per rentable square foot per year. The Port is expected to receive $12,137.28 in total base rent revenue over this one-year term. West Coast Yacht Sales LLC, a tenant since August 2021, will also be responsible for proportional operational costs, utilities, and Washington State Leasehold Excise Tax.

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This document is an agenda item cover sheet recommending the authorization of a 36-month commercial lease renewal for Michael Pruitt dba Marine Power Services, who has been a tenant since January 2006. The lease is for Suite 113 at 1205 Craftsman Way, with base rent starting at $0.99/rsqft/mo and 4% annual escalations. The tenant will also pay their proportionate share of operational costs, utilities, and Washington State Leasehold Excise Tax. The Port expects to receive gross revenues of $48,813.60 over the renewal term.

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The Port of Everett has reached a Collective Bargaining Agreement (CBA) with the ILWU Security Union, Local 32C, covering the period 2025-2027. This agreement, approved by union membership on December 9, 2024, maintains the existing health care agreement and includes specified wage increases for 2025 (3.5% for Security Tier I and II, 4.5% for Security Lead, and a 25% increase for part-time positions) and CPI-U West-based increases for 2026 and 2027 (with a floor of 3.25% and a ceiling of 4%). Each employee covered by the CBA will also receive a one-time $1,500 payment in January 2025 upon ratification. The document recommends authorizing the CEO/Executive Director to execute this agreement.