Image courtesy of the Port of Oakland.
The Port of Oakland has had a new budget of $494.2 million budget for the Fiscal Year of 2019 approved by port commissioners — which includes $34.7 million reserved for capital projects.
The budget is set to cover operations at the Port’s three areas: Aviation, as the port manages Oakland International Airport; Commercial Real Estate, as the port operates the Jack London Square entertainment district; and Maritime.
The budget for 2019 has come out as $40 million less than the port’s spending plan for 2018.
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The Port commented that the previous year’s budget was higher due to significant upgrades to the Airport, including a major overhaul of the Airport’s International Arrivals Building and the rehabilitation of its main runway.
The port is currently looking for Commissioners approval for an additional $92 million in capital funding this year.