Facebook Twitter Twitter    Archive | www.aapa-ports.org December 16, 2014
   

Public Access: Los Angeles

Print Print this Article | Send to Colleague

New Public Access Investment Funding Policy Under Development at the Port of Los Angeles

The Port of Los Angeles is developing new methodology for funding public projects and programs in order to have a more defined, accountable and sustainable approach to public investment. 

The proposed Public Access Investment Funding Policy provides budget guidelines to port staff for capital development of public projects and initiatives. Generally, the policy dedicates 10 percent of the port’s annual operating income from the latest available fiscal year for the capital development of public access projects. If approved, the policy would designate approximately $39.4 million for public benefit purposes in fiscal year 2015-2016 and may be enhanced in subsequent years based on the port’s commercial performance. 

The new policy also sets spending parameters on operating and maintenance expenses associated with new public projects as well as existing public facilities and benefit programs. 

"Our goal is to develop a policy framework that affirms the harbor department’s year-over-year commitment to a financially significant and broad range of public investments," said Port Executive Director Gene Seroka. "At the same time, we need to meet our core mission of facilitating seaborne trade and growing our revenue-generating cargo business while making environmental sustainability a top priority. I believe we are headed in the right direction and look forward to the input of the public and harbor commission."
 

Share Share on Facebook Share on Twitter Share on LinkedIn