Seattle projects record revenues in 2006 budget

Seattle projects record revenues in 2006 budget    The Port of Seattle said this week it expects increasing container volume to drive the port to record revenues in 2006.
   The port approved its budget for 2006 and also expects to reduce tax levies by 23.4 cents per $1,000 of assessed valuation for its property. Total operating revenues are expected to reach $421 million, a record and an increase of 4.5 percent over 2005.
   'The increase in revenues reflects new and expanded facilities we've opened at the airport and seaport recently as well as projected increases in passenger and cargo volumes,' Port of Seattle Commission President Bob Edwards said in a statement.    'We also are expecting higher income from our marine terminals and other revenue sources such as concessions at the airport.'
   New revenue-generating facilities that opened in 2005 include the Central Terminal at the airport and a refurbished Terminal 25 at the seaport. The port's 2006 capital budget allocates $552 million for infrastructure projects, including $56.1 million in upgrades at terminals 18, 25, 91 and 115. Another $27 million will be invested in dock replacement projects at Fishermen's Terminal and Shilshole Bay Marina.