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Port proposes $38.5 million capital budget, prioritizes pier repairs and waterfront parks
Summary
Staff proposed a $38.5M two‑year capital budget that prioritizes pier repairs (including $8.1M for pier structures), dredging, Pier 70 stabilization, and waterfront parks funded by general obligation bonds and Transbay Cable payments; staff plans community workshops for Bluegreenway design.
Port staff presented a proposed $38,500,000 capital project budget covering fiscal years 2010–11 and 2011–12 and outlined how those funds would be allocated among pier repairs, dredging, Pier 70 stabilization, and waterfront open‑space projects.
Lawrence Brown, a Port financial analyst, said the proposed funding package draws on unappropriated operating fund balance, a $550,000 annual environmental payment tied to the Transbay Cable lease, unspent debt‑service funds from the recent revenue bond closing and proceeds from planned general obligation (GO) bond tranches. "We proposed $38,500,000 in capital projects over the next two years," Brown told commissioners, noting about $25.9M is proposed for 2010–11 and the…
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