In October 2017, Port of Seattle staff briefed the Commission on the proposed 2018 tax levy and a five-year Capital Improvement Plan (CIP) funding strategy for 2018-2022. Staff recommended holding the tax levy steady at $72 million, while noting that the full CIP exceeds available funding resources for the non-Airport operations covering Maritime, Economic Development, and the Northwest Seaport Alliance. A prioritization process was underway to balance near-term needs with long-term financial flexibility, with a revised CIP and updated financing plan to follow.Open full document
Notes
This Commission agenda memorandum from the Port of Seattle’s Director of Corporate Finance briefs the Commission on the 2018 tax levy and the 2018-2022 Capital Improvement Plan (CIP) funding. Staff recommends maintaining the tax levy at $72 million for 2018 and presents a Draft Plan of Finance covering Airport and non-Airport operations. The memo notes that the full CIP exceeds available funding resources and that a revised CIP and updated funding plan will follow.