Fiesta said..
Probably a good idea to think about how the bollard will mix with your foredeck - raised bollards are great for catching spinnaker pole kickers, headsail sheets etc. A SS horn cleat maybe a better option depending on what you want to use it for.
Reinforcing under deck is a great idea as "sctpc" says above. A good option is a nice thick section of marine ply that has a decent chamfer on the edges, this helps preventing localised bending of the deck around the perimeter of the ply section. Big penny washers on the bolts as well.
good point, existing cleats are out of the way.