BRADENTON — A Manhattan consulting firm, stocked with technical expertise in public-private partnerships, will be hired to advise Port Manatee on how it can capture more business.
The Manatee County Port Authority on Tuesday selected Arup as its concession advisor over three other finalists, all of whom had 30 minutes to sell their services to the board and address questions.
Arup won over five of the six commissioners in attendance with a detailed plan that outlines how it will prepare a new business plan for Port Manatee.
Arup, which is advising the Port of Miami on a public-private partnership for the development of its access tunnel, unveiled a five-step process for consulting the port authority on new business potentials.
Arup plans to collect the authority’s objectives for the port, develop revenue projections based on current and potential new business models, conduct a cost analysis for potential investors, analyze the risks and rewards for each business option and present a suggested growth action plan for the authority to consider.
“We can give you that fresh set of eyes and ears for your business case,” said Yuval Cohen, a project manager for Arup. “We are ready to start on Day 1 to bring you an action plan.”
Arup, which proposed a fee of up to $185,000 for its initial services, will meet with Port Manatee’s attorney to agree on a contract.
The Manatee County Port Authority in July began accepting applications from consulting firms and received 10 applicants on the Sept. 15 deadline. An evaluation team reviewed the firms’ background and credentials to narrow the field of candidates.
Arup will evaluate the risks and rewards involved in a long-term lease, concession or other public-private partnership for Port Manatee’s expansion and development.
The port has plans to develop its South Port area by expanding its berth to 1,600 feet from 1,000 feet, and building an adjacent 52-acre container yard.
The development is an effort to prepare for additional container business officials are optimistic Port Manatee can receive as a result of the Panama Canal expansion.
“We had some highly qualified presenters and any one of the four could have been selected by the board (Tuesday),” said David McDonald, executive director of Port Manatee. “We’ve moved past the fork in the road and we look forward to moving ahead with our new developments.”
Other candidates included Basile Baumann Prost Cole & Associates Inc., based in Annapolis, Md.; KPMG Corporate Finance, based in Dallas; and Infrastructure Capital Advisors, based in Chatham, N.J.
However, commissioners said they were most impressed with Arup’s presentation in which the firm went through step by step how it will analyze Port Manatee’s current and new business possibilities, as well as how it will work with the authority.
“(Arup) had a very polished proposal,” said Larry Bustle, chairman of the Manatee County Port Authority. “They tailored it to us. There was an awful lot of personalization in it. They truly did their research.”
