For Additional Information:
Nov. 24, 2009 Carolyn Casey, Communications Manager,
360-676-2500 carolyncportofbellingham.com
Adopted 2010 Budget Creates Jobs Without Increasing Property Taxes
Budget Includes $32 million in Capital Projects
[Bellingham, Wash.] Whatcom County's taxpayers will not face any property tax increases from the Port of Bellingham in 2010. Last week the Port's Board of Commissioners adopted the 2010 Strategic Budget and directed staff to maintain the current tax rate.
"People are struggling during this economic downturn and we believe the Port's most important roles are economic development and job creation," said Commission President Scott Walker. "The last thing we want to do is adopt a budget that increases people's taxes."
This is the sixth year that the Commission has chosen to forgo taking the allowed annual property tax rate increase. Because of this, the Port's current property tax revenue of $7.4 million is $3.5 million less than its legal limit. The estimated annual Port-levied property tax on a $275,000 home will be $77, which is lower than the year before.
To view the budget document online, click here.
The Commission adopted the budget after two public hearings. The budget includes $58.8 million in total expenditures, a larger than normal budget because of $32 million in capital projects. The budget maintains the current staffing levels.
It is anticipated that the Port's $33 million in capital projects will generate substantial direct and indirect private-sector jobs.
Construction at the Bellingham International Airport will be a major focus for the Port in 2010 with the rehabilitation of the runway and a taxiway. These projects, as well as construction to improve the passenger waiting area and airport parking, will come with a more than $25 million price tag. All but $5.2 million of these costs will be paid by the Federal Aviation Administration.
"Our airport is an important transportation asset for the entire community," Walker said. "We recognize that it is essential to maintain and improve the airport so that it can continue to serve businesses and residents of Whatcom County."
Since 1995 Commissioners have restricted the Port's use of property taxes to specific programs that serve a broad public purpose and have required the Port's operations in the airport, marinas, real estate and marine terminals to be self supporting.
The 2010 budget forecasts a 14% increase in operating revenues over the 2009 budget, with total operating revenues for the year projected at $19.6 million. Operating expenses are projected to increase by 4% over the 2009 budget, primarily because of increased business activities in Port facilities.
The Port of Bellingham is a countywide special purpose district that operates the Bellingham Airport, Bellingham Cruise Terminal, Fairhaven Transportation Station, Squalicum and Blaine Marinas, and numerous diverse real estate business and industrial developments throughout Whatcom County as well a network of public parks, trails and boat launches. All Port assets are owned by the people of Whatcom County.
The adopted budget includes a several Portwide goals that will be the focus of Port efforts in 2010. The goals are:
1) Economic Development and Jobs: Creation of new jobs and retention of existing jobs are high priorities for the Port. The Port will pursue projects and partnerships that result in countywide economic development including retention of current employers, expansion of existing businesses, and recruitment of new businesses.
2) Transportation: Well-managed, diverse transportation alternatives are essential to our community. The Port will invest in transportation facilities and infrastructure to ensure that regional and local transportation facilities have the capacity and amenities to meet the community's long-term needs and support economic development. The Port will place a special emphasis on maintenance, repairs and improvements to the Bellingham International Airport to serve the community's commercial, corporate and general aviation needs.
3) Public Asset Stewardship: The Port is the steward of more than 1,000 acres of property and nearly 100 structures. The Port will prioritize its investment in these assets to provide appropriate maintenance and repair, which will assure continued functionality of these community assets now and in the future.
4) Environmental Stewardship: Caring for our environment is one of the Port's core values. The Port will create a multi-faceted approach to apply environmental stewardship principles to the way the Port conducts its ongoing operations. This will include continuation of ongoing environmental clean-up projects, habitat restoration and wetland mitigation programs, application of LEEDs standards where feasible, and adoption of diverse emerging technologies and environmental best practices in Port operations.
5) Waterfront Redevelopment: The Port recognizes that strong and enduring partnerships are essential for the Bellingham Waterfront and Blaine Waterfront redevelopment projects to be successful. The Port will continue to encourage and maintain strong partnerships, while providing the necessary funding and leadership to continue to move the waterfront redevelopment projects forward.
6) Internal Performance: Advances in technology will allow Port operations to be more efficient and will allow the Port to more easily provide information to the community and to its business and government partners. The Port will develop a new website that will increase public transparency, make Port information more accessible, expand public information and improve Port efficiencies. The Port also will conduct a Portwide analysis of technology usage and develop recommendations for technology advances that will be applied in future budgets.
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