June 3 - The Long Beach Board of Harbor (sic.) Commissioners has approved a USD829 million budget for the harbour department's next fiscal year, including USD555 million for capital improvements at the Port of Long Beach.
The budget, which will be presented to the Long Beach City Council for its consideration, designates USD555 million for capital investments at the port, including a major terminal redevelopment and bridge replacement projects.
The largest part of the capital improvement budget will go towards the ongoing Gerald Desmond bridge replacement project and the Middle Harbour redevelopment. The budget also includes funds for planning activities for the port's 'Energy Island' concept of enhancing security and sustainability, and for ongoing improvements as part of efforts to boost efficiency at the San Pedro Bay ports.
For the fiscal year beginning October 1, 2015, the budget anticipates a 6.1 percent increase in operating revenue compared with the current fiscal year's income.
Port of Long Beach's Middle Harbour.
