NCMM-Response-to-the-BPCA-RFP-Marina-Operator

We would like to express our
strong support for Michael
Fortenbaugh’s bid to continue
the operation of the North Cove
Marina. We have lived in
Battery Park City since before
the marina existed, and we have
witnessed its creation, and most
importantly, its transformation
since Michael became its
operator. As you evaluate the
bids for the North Cove Marina,
we urge you to keep in mind
that BPCA’s mission is not
simply to maximize revenue for
BPCA but also to support
Battery Park City as a model of
urban design and planning.
Michael’s operation of the
North Cove Marina for the last
ten years has supported and
driven the rebirth of BPC after
9/11, creating value for the
neighborhood far exceeding the
fees that he has paid BPCA
under his operating agreement.
His track record strongly
suggests that he will continue to
create such unquantifiable
value if he is selected to
continue the operation of the
marina.
- Paula & Jeff Galloway
Michael Duran is a Director and the Financial Advisor of NCMM. He is a
leader in expert networking, knowledge management and the use of
primary data in the private equity investment process. Mike is a
Managing Director at Gerson Lehrman Group and a seasoned investor
with a proven track record over many years and a dozen deals of
superior returns in both public and private markets. Working with the
Commodore, Mike has helped NCMM achieve a steady 10 year run of
financial success.
John LaGrassa is a Director and the Insurance Advisor of NCMM. He has
thirty years of experience in the insurance and maritime industry. He
works at Zurich Insurance Company and is Head of Reinsurance for Asia
and Latin America. Working with the Commodore, John has helped
NCMM navigate the insurance markets and most importantly, ensure
that the insurance funds were available to rebuild after Hurricane Sandy.
A-5. Identify all equity principals, shareholders (limited in the case of a
publicly-held corporation to shareholders owning in excess of five
percent (5%) of the stock), partners, or co-venturers of Proposer, and
state the nature and the extent of each participant's interest in the
proposed development and operation of the Marina and whether any of
the same are minority persons. Attach three prior years’ audited
financial statements for Proposer and for each participant, along with
any other information that will enable BPCA to assess Proposer's
financial capability.
There are three shareholders of North Cove Marina Management Inc.
and they are as follows (ownership %):
Michael Fortenbaugh (71%)
Dennis Conner (25%)
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