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Midyear waterfront finances: revenues slightly up; unresolved rent and vacancies create risk
Summary
Waterfront midyear revenues through Nov. 30 rose about 2.6% ($236,666) versus last year, but staff flagged an unresolved rent receivable of roughly $368,000 from a food-service tenant, two vacant restaurant spaces and projected revenue shortfalls that could leave property management more than $1 million below budget.
Waterfront staff presented a fiscal year 2026 midyear status report to the Harbor Commission on Jan. 22 showing total department revenues through Nov. 30, 2025 are up roughly 2.6% ($236,666) compared with the same period last year, but the department faces notable near-term risks.
Cesar Barrios told commissioners the uplift is driven in part by higher interest earnings (up about 24.4% year-over-year) and gains in some program…
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