From the Director’s Message on the Port of PT website:
…Put bluntly, our current revenue streams and tax receipts are wholly inadequate to fund the long-term maintenance, repair, and replacement of the suite of facilities and equipment we presently operate.
This suggests that we will be required to undertake management responses that may include a combination of all of the following:
– Significantly increasing rates and fees to recoup costs
– Critically evaluating, and where possible cutting, administrative and overhead expenses
– Surplusing non-performing assets that do not advance our central mission of economic development
– Aligning expectations with fiscal realities – be prepared for lower levels of service, and facilities that are functional, not necessarily beautiful.