OLYMPIA - Port commissioners are scheduled to get an update on Olympia's financial performance the first half of this year at their meeting Monday.
Chief financial officer Steve Davis is scheduled to cover actual performance compared to budgeted amounts and project expected financial results for the rest of the year. The report will cover port operations including the marine terminal, Swantown Marina & Boatworks, Olympia Regional Airport and the port's property development division.
A sharp drop in ship visits this year finds the marine terminal struggling. A conservative revenue estimate issued earlier this year projected terminal revenues could drop as low as $620,000 this year, down from a 2004 peak of $3.5 million. A key factor in the downturn has been the port's delay in recruiting a Weyerhaeuser log export facility from Tacoma, a project delayed a year by several lawsuits seeking more environmental impact review.
Monday's meeting starts at 5:30 p.m. in the LOTT boardroom, second floor, Market Centre Building, 111 Market Street N.E. For more information, call 360-528-8000.
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