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Port director warns of rising vacancies and $2 billion capital backlog; plans Pier 27 cruise terminal study
Summary
Port of San Francisco presented a FY2010 budget marked by rising vacancy rates (about 13%), a $2 billion 10‑year capital improvement plan, and a proposed new Pier 27 cruise terminal; the Port agreed to budget analyst recommendations and will seek federal stimulus and bond financing for projects.
Monique Moyer, representing the Port of San Francisco, told the Budget & Finance Committee on May 20 that the Port is confronting revenue and asset maintenance challenges even as it pursues strategic investments.
Moyer said Port revenues have grown about 5.5 percent over five years while expenses rose roughly 45 percent, and the Port receives no general fund or state revenues. She…
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