Courtesy of the Port of Everett

The Port of Everett Commission has adopted an $89 million 2022 operating and capital budget. The budget sets the financial framework for the Port to continue delivering on the vision of a balanced Everett waterfront that supports maritime use at the urban deep-water Seaport as well as mixed use at the destination waterfront.

The budget includes a one-year operating and capital budget and a five-year capital budget forecast with a three-year funding plan.

The Port’s 2022 budget and financing plan takes into account the financial impacts resulting from the on-going COVID-19 pandemic on the Port’s aerospace business. It does so while positioning the Port to address significant opportunities to support economic recovery and new jobs, including continued investment in the Port Commission’s top capital priorities of modernizing and expanding the Seaport and building out Waterfront Place.

The plan includes 81 individual projects that advance the Port’s strategic initiatives, placing a high emphasis on continued Seaport investments to put the former Kimberly-Clark mill site back into job-producing use with development of a new marine cargo terminal, and furthering the creation of a new mixed-use waterfront community at Waterfront Place with construction starting on new restaurant buildings as well as public infrastructure to support future phases.

It also enhances public access and environmental stewardship initiatives by completing the Blue Heron Slough salmon habitat restoration project and opening new waterfront trails at the new Baywood business park. These initiatives have been established by the Port Commission and direct the long-term financing, as well as allocation of staff resources. 

Click here to read further details.