Portland port commission approves 5% operating budget increase
The Port of Portland said Thursday its port commission approved a $231 million operating budget for fiscal year 2006-2007 operating budget at the commission’s monthly meeting Wednesday.
The approved budget is 5 percent higher than the 2005-2006 budget, with a projected capital budget of $141 million. The port said the budget reflects strong growth in all marine business lines, including the addition of two new carriers beginning service to Terminal 6. The Port expects aviation revenues to increase based on projections of another year of record-breaking passenger levels at Portland International Airport.
To accommodate upcoming growth, the port said it will continue making the capital investments announced last year, including the following capital projects slated for this year:
* $13.4 million for the first year of an airport parking garage expansion program.
* $12.5 million for the rehabilitation of an airport taxiway.
* $8 million as an initial investment for development of an “in-line” explosive detection system for baggage screening behind the ticket counters.
* $6.8 million for improvements at Terminal 4.
* $3.6 million for Honda Auto facility upgrade.
* $5.6 million for Auto Warehousing Co. (Hyundai) auto facility improvements.
* $2.2 million for completion of the third lead track at the T-6 intermodal facility.