Port of Newport Approves Their Budget

The Port of Newport Port Commission approved a $28.7 million budget for fiscal year

2025-26 at its meeting on Tuesday May 27th. Earlier in the month, the Port Budget Committee, consisting of five members of the public and five port commissioners, thoroughly reviewed the details of the proposed budget. The process also included review

of capital improvement needs, project prioritization, analysis of the rate and fee structure, and discussion of possible grant funding for major infrastructure needs.

The Port continues to pursue grant funding to rebuild Port Dock 7. Some aspects of the years-long process will be tackled in the coming fiscal year and are represented in the budget. Asked by the budget committee whether some of the current uncertainties with federal and state funding impact the outlook, Executive Director Paula Miranda said, “At this point, we propose business as usual until we hear a reason why we should not,” and then added “we are never guaranteed grants.” As part of Tuesday’s budget hearing, Port Commissioners also approved the permanent tax rate of $.0609 per $1,000, which will generate $130,000 in revenue from port district taxpayers, or less than one-

half a percent of the overall budget. Permanent rates were set by the state decades ago.

That resolution also included taxpayer contribution for the repayment of general obligation bonds, which were used to address environmental issues at the Newport International Terminal. 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 thorough feasibility study, the agency is poised to release the results of the study and environmental assessment in June, when they will invite public comment. Improvement of the channel 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.