Bill Mongelluzzo, Associate Editor | Jun 07, 2012 4:32PM EDT
The Los Angeles Harbor Commission adopted a 2012-13 fiscal year budget that includes projected capital expenditures of $285.7 million for terminal expansion, waterfront development and transportation projects that will enhance goods movement in the harbor area.
“While the budget is a one-year document, our focus is long-term,” said Cindy Miscikowski, president of the harbor commission. The capital expansion program will develop infrastructure that will help Los Angeles retain its position as the nation’s largest container port, she said.
Infrastructure investments in the coming year include $132 million for terminal development projects, including the TraPac, China Shipping and APL facilities. The port also allocated $80.4 million for transportation projects that will improve goods movement on local roads and highways.
Los Angeles budgeted $16.1 million for green programs and initiatives, including the Clean Air Action Plan, the vessel speed-reduction program and the environmental ship index program. The port will also make its annual $1.5 million investment in a regional technology advancement program that is supported by various interests and is designed to develop new technology for the maritime industry.
The overall Los Angeles budget of $954.1 million for the fiscal year beginning July 1 is 2.3 percent less than the current budget year that will end on June 30. The new budget reflects the port’s estimate of relatively flat operating revenue of $398.6 million in the coming year. The port projects a 4 percent increase in total expenditures.
Contact Bill Mongelluzzo at bmongelluzzo@joc.com. Follow him on Twitter @billmongelluzzo.
