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Port of San Francisco warns of multi‑billion seawall need while keeping operations budget balanced
Summary
Port Executive Director Elaine Forbes told the committee the Port is operating within its two‑year budget but faces a capital backlog of about $900 million and a seawall replacement cost 'up to $5 billion'; she flagged declining cruise passengers, Pier 80 auto processing growth plans, and public benefits in upcoming Forest City and Mission Rock approvals.
Elaine Forbes, executive director of the Port of San Francisco, briefed the Budget & Finance Committee that the Port’s operations are self‑sustaining but that waterfront infrastructure needs far exceed the Port’s balance sheet.
Forbes listed a capital backlog in the neighborhood of $900,000,000 and described the Seawall Resiliency Project as having a total replacement cost she said could reach up to $5,000,000,000. She said the Port has set aside $16,200,000 to address capital backlog needs and currently budgets about $30,700,000 in capital for the year.
Why it matters: The seawall and other waterfront infrastructure are public‑trust assets that, if not addressed,…
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