NEWPORT — The Port of Newport commission approved a $28.7 million budget for the 2025-26 fiscal year at its meeting last week, which included a review of capital improvement needs, project priorities, and discussing possible grants for major infrastructure projects.
Most of the Port’s budget comes from user fees, leases and grants. It has a permanent tax rate of six cents per $1,000 assessed property value, which will generate $130,000 in revenue from port district taxpayers, or less than one-half of one percent of the overall budget. The Port district also has a voter-approved $15.4 million bond for environmental cleanup at its international terminal, which carries a rate of 32.7 cents per $1,000 assessed property value.
The Port continues to pursue grants to rebuild Dock 7, according to the port’s executive director Paula Miranda. Some aspects of the years-long process will be tackled in the new fiscal year beginning July 1 and are represented in the budget.
In her budget message, Miranda said the Port continues to work with a consultant to plan the rebuilding of Dock 7.
“This past year the Port applied for $34.5 million in grants to fund the project, unfortunately, the Port only received the state matching grant, but not the federal portion, causing the Port to rescind the state application,” she wrote.
Budget committee members asked Miranda whether some of the uncertainties with federal and state funding might impact the project, according to a news release from the Port.
“At this point, we propose business as usual until we hear a reason why we should not,” Miranda said, then adding “we are never guaranteed grants.”
In other business, the Port also heard a presentation from the U.S. Army Corps of Engineers on the proposal to improve the navigational channel into the commercial marina. After a feasibility study, the agency is poised to release the results of the study and environmental assessment in June, when they will invite public comment.
Channel improvement is considered key to the Port’s plans for Port Dock 7 and will improve safety and access to the 274 slips and docks providing services to the commercial fishing fleet.
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