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Committee backs $25.7M Port capital supplemental and forwards park-bond issuances
Summary
Port staff requested a $25.7 million supplemental to address waterfront repairs and projects; the committee also advanced sale and appropriation of park and waterfront bonds totaling about $52.6 million and a $3.46M seismic loan reappropriation. Budget office recommended approval for each item.
The committee advanced several capital and bond measures affecting the Port of San Francisco and the city’s park capital program.
Port budget manager Meghan Wallace requested a supplemental appropriation of approximately $25,700,000 to increase the Port’s FY2015-16 capital budget, citing a backlog of repair and renewal needs. Wallace said the supplemental includes a $15.3 million payment to PG&E for an offshore cable, $5.5 million from FY2014-15 savings, about $4.2 million from project savings and approximately $700,000 from the Costco Busan settlement. The package would fund 16 projects ranging…
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