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Port of San Diego has 'blown right through' years of savings


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Once flush with proceeds, the Port of San Diego’s savings account is projected to nosedive to a far-lower-than-allowed balance by the end of the next fiscal year or around $27 million less than what is required of the agency’s reserve fund.
The shrinking-savings situation was discussed Tuesday during the agency’s regular monthly meeting after CEO Joe Stuyvesant and CFO Robert DeAngelis presented the board with a preview of the financial road ahead for the fiscal year beginning July 1.
For the upcoming year, the port is forecasting revenue growth of 5.4 percent over fiscal 2021 for a total of $154.5 million. The sum, however, is short $15 million after factoring in routine expenses and major maintenance costs of $169.5 million, meaning the port will need to tap into its operating reserves to make up the difference. As such, by the end of fiscal 2022, the port’s reserve balance will drop to $34 million, despite a policy that requires the agency to keep r ....

Chula Vista , United States , San Diego , National City , Imperial Beach , Shelter Island , Robert Deangelis , Dan Malcolm , Port Commissioner Dan Malcolm , San Diego Unified Port District , சூலா விஸ்டா , ஒன்றுபட்டது மாநிலங்களில் , சான் டியாகோ , தேசிய நகரம் , ஏகாதிபத்தியம் கடற்கரை , தங்குமிடம் தீவு , டான் மால்கம் , போர்த் ஆணையர் டான் மால்கம் , சான் டியாகோ ஒருங்கிணைந்த போர்த் மாவட்டம் ,

San Diego's bayfront is controlled by a little-known agency with power that will be tested in new year


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Some of San Diego’s most celebrated bayfront destinations Seaport Village and the Coronado Ferry Landing are governed by an unfamiliar entity with power that, in 2021, will prove more consequential than ever.
Formed by the state in 1962, the San Diego Unified Port District spans 34 miles of coastline from Shelter Island to the border. The land was granted to the agency to hold on behalf of the public; it includes tidelands in San Diego, National City, Chula Vista, Imperial Beach and Coronado. It’s a self-funded, non-taxing entity governed by a board of seven commissioners who are appointed by their member cities. ....

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San Diego's bayfront is controlled by a little-known agency with power that will be tested in new year [The San Diego Union-Tribune]


FAIRFIELD-SUISUN, CALIFORNIA
San Diego’s bayfront is controlled by a little-known agency with power that will be tested in new year [The San Diego Union-Tribune]
Some of San Diego’s most celebrated bayfront destinations Seaport Village and the Coronado Ferry Landing are governed by an unfamiliar entity with power that, in 2021, will prove more consequential than ever.
Formed by the state in 1962, the San Diego Unified Port District spans 34 miles of coastline from Shelter Island to the border. The land was granted to the agency to hold on behalf of the public; it includes tidelands in San Diego, National City, Chula Vista, Imperial Beach and Coronado. It’s a self-funded, non-taxing entity governed by a board of seven commissioners who are appointed by their member cities. ....

San Diego , United States , Imperial Beach , Barrio Logan , Harbor Island , Chula Vista , National City , City Of San Diego , Navy Pier , Shelter Island , Michael Zucchet , William Fulton , Marshall Merrifield , Randa Coniglio , Jennifer Lesar , Bob Deangelis , Dan Malcolm , Sandy Naranjo , Mitsubishi Cement Corp , California Coastal Commission , Midway Museum , San Diego Union , Tribune Content Agency , Coastal Commission , Rice University Kinder Institute For Urban Research , Seaport Village ,