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City of San Leandro Marina Lodging Development Page 6 indicated, the conference center hotel would require significant financial or other concessions to make it economically viable, as differentiated from market viability. Both the recommended conference center hotel and restaurant developments would be located on sites leased by the operators from the City of San Leandro. We have not found additional market support for other facilities at the Marina. Further, we have determined that improvements or enlargement to the existing golf clubhouse at the Monarch Bay Golf Course should proceed separate from any development of facilities at the Marina such that each would operate as a stand-alone facility. We also recommend that the boat launch operation be relocated to the western edge of the Marina, at Mulford Point. to therefore enlarge the remaining, future lodging development site to 5.0 buildable acres from its present size of approximately 3.0 acres. Based on our interviews with City staff, we understand that this project has been recommended for funding by the State of California, but that the actual grant of funds has not yet been approved. Iffunded, the grant for the relocation work will be made available in Fall 2003, with construction beginning in the Summer 2004. 4. Location of the Recommended Facilities With regard to location of the proposed conference center hotel at the Marina, we are of the opinion that the property should be located on the site of the Blue Dolphin Restaurant. As a result of the attractive surroundings in this area and the views of San Francisco and the Bay, this waterfront location would provide the proposed conference center hotel with locational and competitive advantages, leading to higher occupancy and average daily room rate (ADR) attainment. For the recommended restaurant, we are of the opinion that this facility could be developed at one of three sites in the Marina area. First, should a new lodging facility not proceed on the Blue Dolphin site, that site would be highly attractive for a restaurant development as well. Alternatively, the present boat launch site, or, available site to the north of (adjacent to) the existing EI Torito Restaurant are also viable development pads. These locations have the advantages of being proximate to the main entry point of Marina and the in-fill of an available lot. Partial views of the harbor area are available from these sites, however, the views are more attractive as seen from the Blue Dolphin site. Both the locations for the proposed conference center hotel and the restaurant can be seen on the map on the following page. .