This August 2023 Port of Seattle Commission briefing reports the financial results for the second quarter of 2023, showing overall operating revenues of $462 million — $8.3 million above budget and nearly $100 million higher than the same period in 2022. Strong performance was driven by higher revenues from public parking, rental cars, airport commercial properties, and cruise operations, while total operating expenses came in $15.7 million under budget. Net operating income before depreciation reached $197.3 million, exceeding budget by $23.9 million.

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Commission agenda memorandum briefing the Port of Seattle Executive Director on Q2 2023 financial performance results. Overall operating revenues were $462.0 million, $8.3 million above budget and $99.7 million higher than the same period last year. Net operating income before depreciation was $197.3 million, $23.9 million above budget.

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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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