The Cleveland-Cuyahoga County Port Authority’s annual budget for 2015 includes $20 million in capital investments to improve maritime operations and sediment management.
The Cleveland-Cuyahoga County Port Authority’s board voted on Tuesday to accept an annual budget for 2015 that includes $20 million in capital investments to improve maritime operations and sediment management.
“This budget allows the port to continue investing in our strategic priorities in maritime, sustainability, river renewal, and development finance, while ensuring our overall financial stability,” said Will Friedman, president and chief executive officer for the Port of Cleveland, in a statement.
The port authority plans to continue investing in its European liner service, Cleveland-Europe Express (CEE), which was started in April. The port will expand the CEE service in 2015 to two sailings a month between Antwerp and Cleveland, as announced in September.
“Our experience and discussions with shippers revealed that it is critical we offer more frequent sailings to better serve the needs of those moving containerized freight into global markets,” Friedman said.
The Port of Cleveland also reported its findings from an independent study of Irishtown Bend, which examined the conditions of bulkheads and potential for landslides into the Cuyahoga River’s shipping channel. The area is a curving half-mile section of the west riverbank between Columbus Road and the Detroit-Superior Bridge. The port’s findings:
- Risk of hillside failure exists if water conditions and slope toe stability on the north end of the site are not addressed.
- A series of specific remedial actions can restore the site as a viable community asset.
- The needed remedial actions are projected to cost about $49 million, which is much less than earlier assessments.
- Intergovernmental collaborations and a combination of funding sources can allow for the potential economic redevelopment of about four acres on the site.
“With the completion of this study, we finally have a comprehensive technical understanding of the hillside’s condition,” Friedman said. “Now the community can work together to stabilize the hill, safeguard maritime traffic and restore appropriate use of this magnificent and historic site.”
