It represents commerce, navigation, all of the things that San Francisco is famous for. The wood you see in the board of supervisors chambers is oak and all hand carved on site. Interesting thing about the oak is there isnt anymore in the entire world. The floors in china was cleard and never replanted. If you look up at the seceiling you would believe thats hand kof carved out of wood and it is a cast plaster sealing and the only spanish design in an arts building. There are no records about how many people worked on this building. The workman who worked on this building did not all speak the same language. And what happened was the person working next to the other person respected a skill a skill that was so wonderful that we have this masterpiece to show the world today. [roll call] item number two, pledge of allegiance. Item number three, approval of minutes for the june 9, 2020 Port Commission meeting. So moved. Second. All in favor. Aye. Sorry, roll call vote. [roll call] thank y
Too conservative was the parking forecasts and based on conversations we have had in former years i got a little more aggressive and hopefully we will see a tighter performance of budgity to actuals in the future. The question would be the leases. Did we have some leases executed a long time ago and even with cip increases if they were to come online today would the jump be a little bit more than cpi i think in some cases it certainly would and in some cases we dont know. The individual leases which will expire in the twoyear budget window we dont individually address what might or might not happen to thep. As a general assumption we assume those leases will continue on either under the current tenants name or be released under similar terms to someone else. I am a little wary about turning the dial up in aggressiveness because we want to make sure we dont overbudget and have to do midyear. Maybe ill ask the question in a different way. Is more coming off lease or expiring than it has
In the maritime revenue. So for operating expenses the drivers of our future expense are primarily labor, a lot of it is what we have and paying for increases in fringe benefit costs and cola adjustments, et cetera, and the other part is from adding new resources and positions that we believe are critical to meet operating efficiencies, protect our revenue and respond to who we are today. Also in prior years we had that noncash adjustment for pier 70, the reduction of that environmental liability that we dont project having into the future. So this graphic just shows the main drivers, personnel expenses in the dark blue, charges for other city departments, other expenses, professional services. So Expense Growth is projected to outpace Revenue Growth resulting in a negative net income position throughout the projected period. Atz i said, it still shows we can cover operating and almost get to renewal, but its really the grants and contributed capital line again that small line starts a
So for operating expenses the drivers of our future expense are primarily labor, a lot of it is what we have and paying for increases in fringe benefit costs and cola adjustments, et cetera, and the other part is from adding new resources and positions that we believe are critical to meet operating efficiencies, protect our revenue and respond to who we are today. Also in prior years we had that noncash adjustment for pier 70, the reduction of that environmental liability that we dont project having into the future. So this graphic just shows the main drivers, personnel expenses in the dark blue, charges for other city departments, other expenses, professional services. So Expense Growth is projected to outpace Revenue Growth resulting in a negative net income position throughout the projected period. Atz i said, it still shows we can cover operating and almost get to renewal, but its really the grants and contributed capital line again that small line starts at 25. 8 million out to 1.
From continued enhancement in the increase in the number of passengers that are visiting San Francisco from 202,000 projected in 2013 to 261 for our projection period. Were also assuming that 6 passenger facility charge and special events and parking revenue from pier 27 which at the end of the 18, about 1. 8 million. So the cruise investment is paying off in the maritime revenue. So for operating expenses the drivers of our future expense are primarily labor, a lot of it is what we have and paying for increases in fringe benefit costs and cola adjustments, et cetera, and the other part is from adding new resources and positions that we believe are critical to meet operating efficiencies, protect our revenue and respond to who we are today. Also in prior years we had that noncash adjustment for pier 70, the reduction of that environmental liability that we dont project having into the future. So this graphic just shows the main drivers, personnel expenses in the dark blue, charges for