March 2013 – Page 2 – stephenlirakis.com

AMERICA’S CUP ECONOMIC IMPACT LOWERED

The America’s Cup will pump approximately $780 million into the Bay Area economy, generate about 5,500 jobs and lead to about $14 million in revenue for San Francisco, according to a soon-to-be-published report.

“This is a good news story,” said Stephen Barclay, CEO of the America’s Cup Event Authority, who has seen a copy of the Beacon Economics study expected to be released Tuesday.

The numbers are smaller than those first touted by many city leaders when they sought to bring the America’s Cup to San Francisco.

A 2010 study by Beacon Economics predicted the event could pump as much as $1.4 billion into the Bay Area economy and generate some 8,800 jobs. That previous study also assumed more than a dozen teams would participate in the America’s Cup.

But a number of teams have either pulled out of the America’s Cup or did not enter at all. Four teams are expected to compete in the America’s Cup that starts on San Francisco Bay on July 4 and concludes Sept. 21.

The current economic impact numbers may color the discussion of an upcoming hearing called for by San Francisco SupervisorJohn Avalos. Avalos said he is concerned that the city may be on the hook for about $18 million in expenses if a private, nonprofit group does not raise more money to offset the city’s costs. So far that group, the America’s Cup Organizing Committee, said it has raised $14 million and its goal is about $32 million.

Barclay said that while the impact of the America’s Cup may not be as high as originally thought, it still represents a positive turn for the regional economy.

Moreover, he said, the city likely will not have to spend any money on the event.

“It will be a wash” to the city’s coffers, he said, when the $14 million raised through private means is added to the approximately $14 million that the event will generate in additional San Francisco tax revenue.

I will be very interested to see the numbers after the fact. While Newport was very satisfied with the AC tour it hosted in July 2012, the economic numbers were far lower than projected.

SOME THINGS NEVER CHANGE

INTREPID RETURNING FORM A DAY’S PRACTICE

The words were written over 100 years ago and the sentiments have not changed. As true today as then.

I spent the afternoon with Paul Mello, whose photos are above. He has a great eye and a wonderful archive from times gone by.

EAST COAST, WEST COAST

The only real differences between the east coast and the west coast.

HOW TO DRESS FOR AN OCEAN RACE

VIRGINIE HERIOT WINNING A GOLD MEDAL 1928

The photos came with the log book. A true first hand account of the 1905 transatlantic race. An event that became the stuff of legends. An Atlantic crossing record, that stood for a very long time. If you are a purest, you might argue that the record still stands as the boats that have broken the record are so very different.

In today’s world it is hard to imagine dressing as show to race across the atlantic.

Virginie Heriot, I have written about her before, many consider her France’s most famous woman yachtsman. I am certain she was never not properly dressed for any occasion. The Photo, I found and purchased before I ever read the caption. I was pretty certain it could be no one but Virginie.

WHEN TWO SEASONS COLLIDE

Issued by The National Weather Service
Boston, MA
4:25 pm EST, Wed., Mar. 6, 2013

… WIND ADVISORY IN EFFECT UNTIL 7 AM EST FRIDAY…

THE NATIONAL WEATHER SERVICE IN TAUNTON HAS ISSUED A WIND ADVISORY… WHICH IS IN EFFECT UNTIL 7 AM EST FRIDAY.

* WINDS… NORTHEAST 20 TO 30 MPH WITH GUSTS UP TO 50 MPH.

* TIMING… TONIGHT THROUGH FRIDAY MORNING.

* IMPACTS… WINDS MAY BE STRONG ENOUGH TO DOWN TREE BRANCHES OR POWER LINES. ISOLATED POWER OUTAGES ARE POSSIBLE.

PRECAUTIONARY/PREPAREDNESS ACTIONS…

A WIND ADVISORY IS ISSUED WHEN SUSTAINED WINDS ARE FORECAST TO BE 31 TO 39 MPH OR GUSTS WILL RANGE BETWEEN 46 AND 57 MPH. DRIVING CAN BE DIFFICULT… ESPECIALLY FOR HIGH PROFILE VEHICLES.

COWES, THEN AND NOW

I have liked the Isle of Wight since I first set foot on it. It’s reputation as the seat of sailing was a powerful allure. The Island is a remarkable assembly of beautiful unspoiled places.

LUNA ROSSA IN ALEMEDA

AMERICA’S CUP VILLAGE LAST YEAR ON THE EMBARCADERO

Italian sailing team will operate from Alameda for America’s Cup

By Peter Hegarty phegarty@bayareanewsgroup.com San Jose Mercury News

Posted:

MercuryNews.com

ALAMEDA — The Italian sailing team Luna Rossa Challenge 2013 will be based in Alameda as it competes on San Francisco Bay for the 34th America’s Cup this summer, the second team to be based in the city, officials announced Monday.

Luna Rossa, which represents the Circolo della Vela Sicilia Yacht Club, will join Sweden’s Artemis Racing at Alameda Point, or the former Alameda Naval Air Station.

Luna Rossa, or “red moon” in Italian, will lease a 65,400-square-foot former aircraft hangar for the next seven months, city officials said.

“Alameda is an excellent location that will allow us to operate quickly and efficiently,” Antonio Marrai, logistics manager for Luna Rossa, said in a release. “Even though we will race from Pier 30-32 in San Francisco starting in July, we will keep our base in Alameda.”

The terms of the lease were not immediately available. But the announcement that Luna Rossa would set up in Alameda comes just a day before the City Council will consider renewing the lease for Artemis Racing for up to one year at 1050 West Tower Ave.

Along with providing a 110,561-square-foot former hangar, the lease will allow the Swedish team to use 22,604 square feet of former aircraft taxiway and portions of the Seaplane Lagoon at the former military base. The city has already entered into an agreement with the Navy for access to the lagoon.

The base monthly rent for Artemis will be $23,400 between January and May 30, and $25,000 from June until the lease expires. If the team remains in Alameda and does not use the taxiway or lagoon, the rent will drop to $21,600 each month.

Artemis represents the Royal Swedish Yacht Club and initially signed a one-year lease in May last year.

Fashion house Prada is sponsoring Luna Rossa at reportedly $55.2 million. Patrizio Bertelli, Prada’s chief executive officer, launched the team in 1997 under the name Prada Challenge to compete in America’s Cup 2000. Lusa Rossa also participated in 2003 and 2007, when the Italians reached the Louis Vuitton Cup final for challengers before losing to Team New Zealand.

“2013 is the ‘Year of Italian Culture in the U.S.,’ and we are very proud of Luna Rossa’s participation in the America’s Cup,” said Mauro Battocchi, the consul general of Italy in San Francisco. “Italy is a nation of sailors and sailing is very popular with the Italian public. Italy will follow the America’s Cup step by step and we do hope for a great performance.”

Christopher Seiwald, chair of Alameda’s Ad Hoc Committee for the America’s Cup, said the two teams will boost the local economy, noting that as an island the city has a strong sailing community and many maritime-related businesses.

Both Luna Rossa and Artemis Racing are taking on defender Oracle Team USA of the Golden Gate Yacht Club. Emirates Team New Zealand is also competing.

For information on Alameda and the America’s Cup, go to www.alamedawaterfront.com, a website created by local residents, or visit www.cityofalamedaca.gov/City-Hall/Americas-Cup-Ad-Hoc-Committee.