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Port director outlines $1.6 billion deferred maintenance and a strained plan to devote 20% of operating revenue to capital
Summary
Monique Moyer told the Board’s Budget & Finance Committee the Port of San Francisco faces about $1.6 billion in deferred maintenance and is proposing a $3.8 million supplemental to meet a Port Commission policy dedicating 20% of operating revenues to capital; the committee tabled the full budget update for further consideration.
Monique Moyer, Director of the Port of San Francisco, told the Board of Supervisors’ Budget and Finance Committee that the Port’s 10-year capital plan identifies about $1,600,000,000 in deferred maintenance and a potential financing plan of roughly $1,000,000,000, leaving an estimated shortfall of $500,000,000. "We are on the second year of our two-year budget," Moyer said, and described five strategic priorities including preserving maritime tenants and uses, retaining production-distribution-repair (PDR)…
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