This appears to be a most frequently asked question and possibly a most frequently misunderstood subject in the Mandalay Bay area.
Update October 9, 2014: Just got the final cost for the foundation & slope protection repairs, $152,423.41, down for the estimated $210,000. (saving: $57,576.59) Big thanks to the City of Oxnard and Harbor OffShore and the residents at the locations the work was done for the project coming in under budget! We have had numerous reports about how hard the Harbor Offshore people worked on this and the excellent quality of the work they did on this very important project to extend the life of the Seawalls! Thanks to TranSystems for identifying the need, defining the work and monitoring. Thanks to the City of Oxnard for scheduling, monitoring and keeping us in the loop, and thanks to the residents for being responsive to requests for waivers and extending work hours.
Mandalay Bay Seawall Projects 2003 to present
| YEAR | Project | Cost |
| 2005 | Channel Dredging | $1,160,120 |
| 2005 | Guardrail Replacement Phase 1 | $221,145 |
| 2006 | Guardrail Replacement Phase 2 | $122,950 |
| 2013 | Slope Protection (estimate: $210,000) | $152,423.41 (actual) |
| 2014 | Kingsbridge Way (bid awarded – work to begin 2015) | $993,965 |
| SUBTOTAL | $265,0531.41 | |
| YEAR | TranSystems Projects | Cost |
| 3/2001 to 11/2012 | Seawall Assessment Phase A&B | $642,568 |
| 2/8/11-present | Agreement -7385 On Call Marine engineering Services | Cost to date |
| Task 1&1A: $33,381 2013 Environmental Permitting | $24,827 | |
| Task 2&2A: $28,500 2013 Environmental Permitting | $20,375 | |
| Task 3: $78,900 Kingsbridge Way Stabilization Design | $63,668 | |
| Task 4: $28,500 -Seawall Monitoring Program | $2046 | |
| TranSystems Cost subtotal to date | 110,916 | |
| Total ALL Activities | $2,761,447.41 |
The numbers above reflect the new numbers for slope protection work completed in 2014.
NOTE:It is important to understand that the above numbers do NOT include the additional areas of expenditures from the Waterways Assessment funds like Landscaping & maintenance cost which are not insignificant. The costs for Landscaping & Maintenance for Fiscal year 2013-2014 = $169,316.
Total assessment revenue $450,000 minus Landscaping & Maintenance $169,316 = $280,684 left for Seawall Repairs and maintenance.
NOTE: The assessment referenced here is a round number of the total “waterways” fees collected on property tax bills to homeowners.
Landscaping & Maintenance
MBay_Landscaping_Costs-9-10-14
Planed and approved his year:May 18th Oldham Circle Park: $1325.00May 8th 25,800.00
*UPDATE: this has been placed on hold due to the water shortage. Young and newly planted trees are at greatest risk.*
Links to supporting documents and more information regarding the projects:
- See: 2013_Assessment_Item_pdf_685_KB-1
- MBay Project 2003 TO 2014 – Budgets FY13-14 & FY14-15
- MBay History 1968 to 2003
- Strategic_Investigation_PhaseB
- City_Council_Agreement_Copy of_report
- Additional related documents
Looking Back on Looking Forward 9-10-14
Presented in 2006
It was understood that the following repairs were needed
Dredging
- 31,000 yards of material
- Mean Low Tide level- 8 feet
Total Cost- $ 1.5 million
- Spot dredging of high spots
- Future dredging of East side of the bay
Replacement of Guardrails
Seawall Repairs Facts (PRESENTED in 2006)
- 7.8 miles of seawall
- 3.4 miles Boise Wall
- 4.4 miles Zurn Wall
- Estimated replacement cost of $56,000,000 or 41,185 feet of seawall at $1,359.72 per foot (2006 estimates)
- 3.4 miles of channels
- Mandalay Bay 743 properties
Seawall Repairs Completed as of 2006
What has been completed (as of Feb 2006)- severe foundation repair items, the most severe pilaster problems, a large number of the backfill leak problems, a small number of crack and joint repairs
Last 10 years- $6.2 million dollars
Total assessment revenue $450,000 per year (x10) = $4,500,000 = in the red -$1,500,000
Projected Repairs Over Next 15 years (presented at HOA meeting in 2006)
- Reinforce Remaining Pilasters
- Repair Wall Panel Cracks And Seal Wall Joints
- Repair Weep Holes
- Maintain Slope To Protect Foundation
- Fill In Sink Holes
Seawall Repairs Funding: (presented at HOA meeting in 2006)
- Estimated cost-$13,248,000 over next 15 years (based on 2006 estimates)
- UPDATE 2014: the estimated costs in 2006 may have nothing to do with the actual costs. SEE Current Bid on Kingsbridge Way: $993,965.00
http://finance.cityofoxnard.org/Uploads/Purchasing/Bid%20Results%20PW14-03R-Opened-07-23-14.pdf
- UPDATE 2014: the estimated costs in 2006 may have nothing to do with the actual costs. SEE Current Bid on Kingsbridge Way: $993,965.00
- Options- (presented at HOA meeting in 2006)
- Obtain a bond to cover entire cost in today’s dollars
- Increase the current assessment and pay for the repairs over time
Assessment Information (presented at HOA meeting in 2006)
- Current assessment unchanged since 1993
- Total assessment revenue $450,000 per year
- Covers seawall repair, channel maintenance, landscaping
- At the current assessment- $250,000 available for seawall repairs- Without inflation, 53 years to complete repairs
Increase Current Assessment (presented at HOA meeting in 2006)
- Current Assessment range $453 to $1,586 (Average $ 593)
- Triple the assessment to $ 1,359 to $ 4,758 (Average $ 1,779 ( Average increase $ 1,186) )
- Total Revenue- $ 1,350,000 ( Increase of $ 900,000 per year)
- ($900,000+$250,000) X 12 years = $ 13,800,000
- Inflation
Comparisons (presented at HOA meeting in 2006)
Annual Waterway Assessments proposed in 2006
- Westport- Condo $ 2,150 Detached Home $ 7,572
- Seabridge- Waterfront Home $ 8,524
- Mandalay Bay Proposed Assessment- $ 1,780 PROPOSED IN 2006 !!!
- Earthquake Insurance (CEA)- $ 500,000 with 15% deductible- $ 2,200
- Landslide Insurance (Lloyds) for Seawall Failure
2015 – Today, the current assessment will not cover the known expenses of maintaining our seawalls!
The channels need dredging again! In 2005 the cost for Channel Dredging was $1,160,120
