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Port projects $55M in near-term capital spending; seawall remains generational challenge
Summary
Interim Port Director Elaine Forbes told the Budget & Finance Committee the Port expects revenue growth and will invest about $55.2 million in capital projects over two years, while flagging a multibillion-dollar seawall resiliency need; staff also highlighted industrial preservation goals and LBE contracting performance.
Elaine Forbes, interim Port Director, told the committee the Port is experiencing revenue growth (projected ~8.1% in FY17) and plans approximately $55.2 million in capital investments over the next two years. The Port’s operating revenue is approaching $100 million and staff said they are setting aside a larger share of revenue to fund…
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