City of Morro Bay - feasibility study of commercial fishing infrastructure

LWC was hired by the City of Morro Bay (City) to conduct a financial feasibility study on commercial fishing and administrative infrastructure improvements on the waterfront. The work was funded by a grant from the California Coastal Conservancy and completed in December 2004. The three phase project included:

1) Industry analysis that relied on extensive one on one and group interviews with industry stakeholders and review and analysis of financial records from commercial fishing related operations, particularly the City owned dock / offloading facility and related operations. The first phase also included a synopsis of various legal entities that the local fishing organization might employ to most effectively organize and operate the facility.

2) Implementation plan for a direct to consumer fish market in Morro Bay that considered the cost and benefit of light processing (vertical integration up the distribution chain), as well as a market strategy and costs associated with promoting direct to consumer sales.

3) Pro forma and cash flow analysis based on a low interest loan (e.g. California I-Bank financing) for redevelopment of two lease sites associated with the City owned offloading dock including: new Harbor Department offices, small processing facility, restaurant, public restrooms, freezer/cold storage, dry storage, and a store front. This task also included a conceptual site plan by local architects, Maul & Associates.