This is the Port of Seattle's Comprehensive Annual Financial Report covering the fiscal year ended December 31, 2008. Prepared by the Port's Accounting and Financial Reporting Department, the report documents the financial activities and performance of the Port of Seattle, the public agency that operates Seattle-Tacoma International Airport and other maritime and real estate facilities in Washington State. The document serves as an official public record of the Port's financial condition for that year.

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The Port of Seattle’s Comprehensive Annual Financial Report (CAFR) for the fiscal year ended December 31, 2008, prepared by the Accounting and Financial Reporting Department. The report covers the financial activities and operations of the Port of Seattle, a public agency in Washington State. It was printed on 100% recycled paper.

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As the source for federal transportation grants, the Puget Sound Regional Council was charged with developing a system to meet the growing need for commercial aviation. When the search for a second airport failed, they authorized the Port of Seattle to build the Third Runway, with a mandate to develop a noise abatement and mitigation program. In their effort to stop the Third Runway, the ACC argued over every detail of the Port's efforts--including property buyouts and sound insulation. The dispute was meant to be settled by a three member Expert Arbitration Panel. This is their final report. It finds 2-1, that the Port's program was insufficient in several respects. Despite that, funding for the Third Runway was approved by the PSRC, and the 'Port Package' program, proceeded largely unchanged. Expert Arbitration Panel's final decision finding that the Port of Seattle had not shown sufficient reduction in real on-the-ground noise impacts to satisfy noise reduction conditions required for approval of a third runway at Sea-Tac International Airport. The majority decision concluded the Port's noise abatement programs were insufficient despite being impressive in scope.

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