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Port of Houston Authority
by Garrett Bryce
Tuesday, November 13, 2018

The Port Commission of the Port of Houston Authority today voted unanimously to adopt the proposed FY2019 Operating and Capital Budget.

The budget was adopted as presented. Operating revenues under the budget are increased by 8 percent, with total revenues projected to increase by 6 percent. Operating expenses also are increased by 8 percent, with total expenses growing by 9 percent.

A total of 33 new positions are planned under the budget. Capital expenditures of $287 million are budgeted for the year, and focus primarily on container terminal development and reinvestment. Budget Presentation

The commission voted to approve the agreements and documents necessary to give effect to a new $100 million senior lien variable rate revolving note program, including authorization to incur borrowings under such financing, incur rating agency fees, commitment fees, legal fees, paying agent fees, financial advisory fees and other costs, in an amount not to exceed $1 million for the period through December 31, 2019.

The commission tabled action regarding award of a professional services contract for the design of the Port Road expansion and storm water drainage for port authority property at the Bayport Container Terminal.

The commission voted unanimously to approve increases in port authority tariff charges including dockage, wharfage, throughput charges, container storage rates, container crane and private crane rental rates, water hookup rates, freight handling rates, and miscellaneous other tariff charges at amounts equal to the lower of the increase in the Consumer Price Index average for the 12-month period ending July 2018 or the increase in the index average for the 12-month period ending October 2018.

No other items were on the agenda. Commissioners Janiece Longoria, Roy Mease and Dean Corgey were absent. Agenda

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