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Port officials warn of roughly $1 billion capital backlog, outline projects and one-time surplus
Summary
Port deputy director Elaine Forbes told the Budget & Finance Committee the Port of San Francisco faces about $1 billion in unfunded repairs over the next decade, reported a nearly $20 million one-time surplus this year, and previewed projects including Pier 31, Pier 38 and the James R. Herman cruise terminal.
Port of San Francisco officials on Wednesday told the Board of Supervisors Budget & Finance Committee that the agency is operating within its fixed two-year budget but faces a substantial capital shortfall over the coming decade.
Elaine Forbes, deputy director of finance and administration for the Port, said the Port operates as a self-supporting enterprise with an operating budget of about $100 million. She said the Port’s largest revenue source is real estate leasing (about 51 percent), followed by…
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