Seaport Budget Agenda Item No. ___11b_supp ____ Date of Meeting: October 14, 2025 • • • • • Total Seaport Budget and Funding Look Maritime Division Operating Budget Maritime Division Capital Plan Economic Development Division Operating Budget Next Steps 1 Seaport Rollup $ in 000's Revenues Maritime Economic Development Division Joint Venture Total Revenue Expenses Maritime Economic Development Division Joint Venture Total Expense NOI before Depreciation Depreciation NOI After Depreciation 2021 2022 2023 2024 2025 2025 2026 Proposed Change from 2025 Forecast Budget $ % Actual Actual Actual Actual Budget 57,826 (202) 54,842 112,467 89,265 69 55,381 144,715 99,648 (24) 57,636 157,261 106,811 8 61,406 168,225 118,111 3 56,920 175,034 107,155 3 61,406 168,565 125,344 16 56,903 182,263 7,233 13 (17) 7,229 65,174 3,170 2,390 70,734 41,733 81,600 2,102 2,539 86,241 58,474 93,596 3,351 3,466 100,414 56,847 101,991 2,951 2,354 107,296 60,929 103,748 3,890 1,763 109,400 65,633 99,369 2,951 2,354 104,674 63,890 116,016 3,344 5,154 124,513 57,749 12,268 (546) 3,391 15,113 (7,884) 14% -12% 36,556 5,177 36,678 21,796 37,008 19,839 35,794 25,135 35,794 29,839 35,794 28,096 38,464 19,285 2,670 (10,554) 7% -35% Avg Annual Changes since 2022: • Revenue up 6% 6% • Expenses up 10% 424% 0% 4% • Joint Venture Expense: 12% Contains Dredging cost at T18 -14% 192% and West Waterway. • NOI Before Depreciation of $57.7M is a proxy for the Operational Cash Flow absent: • Debt Service Payments (Both POS and NWSA) • Environmental Remediation Expense (Both POS and NWSA) • Public Expense • Operational cash flow is available to pay for capital investments and any new expenses. Anything not paid from operational cash flow must rely on the tax levy. 2 Current Seaport Financial Position • Net Operating Income leveling off at ~$60M. • Maritime Division Annual Growth since NWSA formation: • Revenue 8.6% with Cruise, 7.7% without cruise. • Expenses 7.7%. • Capital Projects costing 2-3 times more in 2025 than pre-pandemic levels • Tougher regulatory environment. • More expensive labor and materials costs. • Aging assets requiring increased prioritization of capital capacity. • Safety • Preservation • Modernization • Tax Levy funding: • Dedicated to multiple potential nine figure cleanups. • Viaduct / Tunnel bond payments through 2037. Reduction in CIP and Other Maritime Investments 3 Item Number: INSERT____ Meeting Date: INSERT Maritime Division 2026 Preliminary Budget - Commission Review | Oct 14, 2025 4 Maritime Priorities 2026 FOCUS ON FINANCIAL STRENGTH, RESILIENCY & INFRASTRUCTURE Prioritizing revenue generation & financial sustainability and investing in long-term resilience 5 Steering Toward a Resilient & Sustainable Future Financial Strength & Sustainability Infrastructure Modernization Innovation & Adaptability Equitable Opportunities Sustainability & Resource Efficiency 6 2026 Maritime Initiatives for Executive Director Priorities • Revenue: - Cruise Long Term Agreement • Infrastructure: - Continued investment in aging assets to meet current demand • Decarbonization: - Electrical System investments - Green Corridor continued progress • Equity and Resiliency: - Incorporate Seismic, energy and climate Change resiliency through project planning - Increase WMBE/DBE utilization 7 2026 Equity in Budgeting Highlights • Funds added in Capital Plan to implement Parks Management Strategy. • Increased sponsorships that support workforce development & equity. • Change Team incorporated into business planning process. • Outside services contracts and service directives have a 15-20% WMBE Goal. • Equitable professional development/training incorporated across all budgets. 8 Commission 2026 Budget Priorities $4M in Capital Plan for Parks Management- To implement park enhancements and evaluate concepts for incorporating elements from Parks Management Strategy. $400K for Propeller Siting- One propeller to be installed at Jack Block Park, assessing location of second ferry propeller. $100K Shipbuilding Readiness- To conduct a comprehensive landscape analysis of workforce readiness, industry scalability, regulatory impacts, energy needs, and competitiveness, with the goal of becoming a "shipbuilding ready" center by 2026. In EDD Budget. $30K Sea Lion Mitigation - Seeking new & innovative ways to address this difficult challenge. $12K ORCA Kiosks - To install an interpretive kiosk to educate public at Shilshole Bay Marina regarding whale sitings. 9 Bottom Line Up Front: Revenue can't keep up with Initiatives 6% REVENUE at $125.3M, up $7.2M from 2025 Budget Drivers: • Cruise up • Grain - Tariff Impact • Salmon Bay Marina • Challenging Leasing Environment 12% EXPENSES at $116M, up $12.3M from 2025 Budget Drivers: • Payroll • Environmental - Grant and Capital Charges • Security, B&O Tax and Utilities 10 Total Maritime Trend Depreciation In 000s Central Services / Other 160,000 Support Services 140,000 Direct 120,000 Revenue 100,000 80,000 60,000 40,000 20,000 2016 2017 2018 2019 Revenue Impacts Post-Pandemic • Growth in cruise • T106 ground lease • Conference & Events challenges • Teleconferencing • Competition • Construction on waterfront 2020 2021 2022 2023 2024 Acutal 2025 Budget 2025Forecast 2026 Budget Expense Impacts Post-Pandemic • T46 lease payment starting in 2020 • Inflation: • Payroll (represented and non-represented) • Construction & Materials • Lower Conference Center Expenses • MCAAP & Environmental Remediation 11 140K Maritime Revenue Trends 120K Revenue $000s 100K 80K Cruise 60K Leasing Portfolio 40K Recreational Boating Conference & Event Centers 20K Elliott Bay Fishing & Commercial Ship Canal Fishing & Operations Grain K 2021 2022 2023 2024 2025 Bud 2026 Bud 12 Cruise Sailings & Passengers 2,500,000 In 2026: • 330 sailings 350 330 295 2,000,000 300 291 • 2M estimated passengers • Assumes average ship occupancy level of 102% 250 1,500,000 200 211 150 1,000,000 Calls Passengers 299 • 2 new brands/ships • MSC (21 calls) • Virgin Voyages (15 calls) 275 100 500,000 82 0 2019 0 2020 50 0 2021 2022 2023 2024 2025 2026 Estimate Budget Sailings Passengers 13 Cruise - Revenue Outlook Rate increase assumptions:  Tariff • Royal Caribbean & Celebrity • + MSC & Virgin Voyages • Weekend rate increase: 7% • Midweek Rate increase: 5%  NCLH • Rate increase: 4.5% In $000s 2024 Actuals 2025 Budget 2026 Budget 25B v 26B 25B v 26B ($) (%) Terminal 91 Cruise 31,900 35,200 42,200 7,000 20% Pier 66 Cruise 11,200 14,800 15,100 300 2% Total Revenue 43,100 50,000 57,300 7,300 15% Note: Includes utility sales revenue for P66 and T91 shore power electricity.  Carnival Corporation • Rate increase: 4.5% 14 Cruise - Expenses Expense Growth  T91 shore power: • Electricity utilities ($1.7M) • Recovered with utility sales revenue • Watts maintenance & repair contract ($220K)  Port Valet - $230K higher • More passengers  B&O taxes - $312K higher • More revenue and higher rates New Requests:  Maritime Innovation Collaboration membership - $15K In $000s 2024 Actuals 2025 Budget 2026 Budget 25B v 26B ($) 25B v 26B (%) Payroll 904 1,053 1,155 102 10% Outside Service 2,210 1,921 2,151 230 12% Other Expenses 3,102 5,150 6,595 1,445 28% Total Expenses 6,216 8,124 9,901 1,777 22% Note: Outside Services contains the Port Valet contract and Other Expenses contains Utilities and the $2.2M payment to NWSA. 15 Elliott Bay Fishing & Commercial Operations - Revenue ($ in Thousands) 13% $6,600 $6,537 $6,400 $6,343 10% 6% $6,200 $6,546 6% $6,000 $5,934 $5,800 $5,600 $6,006 -2% 0% $5,709 8% 3% -2% 2026 Revenue  Dockage/moorage rates are proposed to be increase by 5% unless indicated otherwise by the Consumer Price Index (CPI) in each lease agreement.  Berths 6&8 under construction in 2025. $5,602 $5,400 -7% $5,200 -8% $5,000 -12% 2020 ACTUAL 2021 ACTUAL 2022 ACTUAL 2023 ACTUAL Revenue 2024 ACTUAL 2025 BUDGETS 2026 BUDGETS Change *Utility revenue and expenses are not included 16 Elliott Bay Fishing & Commercial Operations- Expenses Expense Growth  Other Expenses: • Electricity - $187K higher • B&O taxes - $25K higher New Requests: • None In $000s 2024 Actuals 2025 Budget 2026 Budget 25B v 26B ($) 25B v 26B (%) Payroll 777 771 842 71 9% Outside Service 20 22 24 2 12% Other Expenses 1,411 1,127 1,364 237 21% Total Expenses 2,208 1,920 2,230 310 16% 17 Ship Canal Fishing & Operations - Revenue ($ in Thousands) 8% $6,000 8% 7% 6% $5,000 $4,000 $4,290 $4,235 $4,581 $4,883 $5,179 11% $5,596 6% $4,676 -1% $3,000 1% -4% $2,000 -9% -16% $1,000 $- -14% 2026 Revenue  Salmon Bay Marina partially closed in March 2026  Commercial vessels rate - 3% increase  Recreational moorage rates vary from 0% to 10% based on vessel size  Salmon Bay Marina rates - no change  Service rate - 3% increase  Small forklift & crane/hoist rental rate - no change -19% 2020 ACTUAL 2021 ACTUAL 2022 ACTUAL 2023 ACTUAL Revenue 2024 ACTUAL 2025 BUDGETS 2026 BUDGETS Change *Utility revenue and expenses are not included 18 Ship Canal Shipping Operations - Expenses Expense Growth  Outside Service: 2 mobile parking lot security monitoring - $61K higher  Other Expenses: • Bad debt - $52K higher • DNR payments for SalBM -$23K higher New Requests: • none In $000s 2024 Actuals 2025 Budget 2026 Budget 25B v 26B ($) 25B v 26B (%) Payroll 1,600 1,675 1,714 39 2% Outside Service 33 30 90 60 197% Other Expenses 1,584 1,190 1,265 75 6% Total Expenses 3,217 2,896 3,069 173 6% 19 Recreational Boating - Revenue ($ in Thousands) $25,000 14% 11% 12% 10% $20,000 $18,273 9% $15,000 $15,504 $12,610 $12,807 $19,091 $16,546 10% 8% $13,908 6% 7% $10,000 4% 2026 Revenue  Moorage rates vary from 0% to 10% increases based on slip size. • SBM average ~ 4.7% • HIM average ~ 2.6% • BHM average ~ 1.8%  Service rate - 3% increase  Live-aboard rate - 3% increase 4% $5,000 2% 2% $- 0% 2020 ACTUAL 2021 ACTUAL 2022 ACTUAL 2023 ACTUAL Revenue 2024 ACTUAL 2025 BUDGETS 2026 BUDGETS Change *Utility revenue and expenses are not included 20 Recreational Boating Rate Increases Location SBM HIM BHM Slip Size Up to 26' 26' to 30' 31' to 70' 71' to 110' Up to 46' 46' to 50' 61' to 65' 26' to 30' 36' to 60' 66' to 70' Rate Change 0% 2% 5% 8% 0% 3% 10% 0% 3% 0%  Other charges will go up between 3% and 5%  Guest moorage - no change 21 Recreational Boating - Expenses Expense Growth  Outside Service: • SBM & HIM parking lot monitoring services - $52K higher  Other Expenses: • B&O taxes - $70K higher Expense Decrease  Outside Services: $50K reduction for new washer & service  Travel Expense - $25K lower In $000s 2024 Actuals 2025 Budget 2026 Budget 25B v 26B ($) 25B v 26B (%) Payroll 2,515 2,863 2,868 6 0% Outside Service 189 156 192 36 23% Other Expenses 1,907 1,700 1,790 90 5% Total Expenses 4,611 4,719 4,850 132 3% New Requests:  Orca Kiosks at SBM: $12K  Sealion Mitigation SBM: $30K 22 Portfolio Management - Revenue Outlook Revenue Budget Drivers:  Lease In $000s 2024 2025 Actuals Budget 2026 Budget 25B v 26B ($) 25B v 26B (%) • Conservative revenue budget at T91 due to expected impact of scheduled projects Conference & Event Centers 7,407 9,067 9,341 274 3% • WTC West - soft office market Lease 19,843 21,169 22,016 847 4% Bell Street Garage 1,892 2,692 1,834 (858) (32%) TOTAL 29,142 32,928 33,191 263 1%  Bell Street Garage • Lower demand due to discounted prepaid rates for cruise passengers at parking garages by T91 • Parking declined in part due to a reduction in employer-subsidized parking at Bell Street Garage 23 Portfolio Management - Expenses* In $000s 2024 Act 2025 Bud 2026 Bud 26B vs 25B ($) 26B vs 25B (%) Salary & Benefits 2,222 2,263 2,392 129 6% Outside Service 586 1,099 639 (460) (42%) Other Expenses 12,672 13,855 14,509 654 5% Total 15,480 17,217 17,540 323 2% Expenses increase 2% driven by payroll & utilities Expense Growth  CEC higher business volume led to higher variable operating expenses  Utility $516K (14%) higher Expense Decrease  Outside Services- Tenant Improvement 66% and Broker Fees 75% lower  Travel Expense- 12% lower *P69 Facilities expenses are not included 24 Conference Events Center-Revenue and Profit Trend 16% avg operating profit of Gross Revenue (Prior 2020) 2026 Revenue Budget Drivers: 5% avg operating profit of Gross Revenue (2023-2025) 3% • Weekday cruise sailings impacts expansion space utilization • Memberships & WTCSE event sponsorships impacted corporate budget cuts • Leveraging waterfront completion by partnering with waterfront hotels Actual (Gross Revenue) Operating Profit *Utility revenue and expenses are not included. 25 Terminal 86 - Grain In $000s 7,000 2026 Revenue:  2026 assumes lower grain volumes and revenue due to tariff uncertainties 6,000 $5,920 $5,792 5,000 $5,173 $4,440 4,000 $3,356 3,000 2,000 1,000 Revenue Direct Expenses 0 2022 ACTUAL 2023 ACTUAL 2024 ACTUAL 2025 FORECAST 2026 BUDGETS 26 Maritime Security In $000s 2024 Actuals 2025 Budget 2026 Budget 25B v 26B ($) 25B v 26B (%) Payroll 396 400 408 8 2% Outside Service 2,484 2,775 5,111 2,336 84% Other Expenses 7 Total Expenses 2,888 72 3,247 96 5,614 23 2,367 72% Outside Service: Starting July 2025, the new security contract approved by the Commissioners took effect with Prosegur • • 2026 Budget 32% Expense Growth  Security Expense 26 Budget vs 25 Budget Now patrolling 5 of the Port parks, as well as providing its security patrol vehicles. T-30 security service included in 2026 budget T-30 T-46 T-46 Park SBM FT SBM 2025 Budget Pier 66 Pier 69 Pier 69 T-91 FT Pier 66 T-91  Equipment: Security barriers - $20K higher 27 Marine Maintenance - Expenses  Expense Growth  Expenses increase 1% excluding Payroll and Utilities.  7.0% Salary & Benefit increase  Outside Services 28.2% ($313K) increase due to unbudgeted contracts in prior years: Elevators and Escalators, HVAC, Pest Control and, Fire Alarm Monitoring.  Travel/Training reduced 50% ($162K) In $000s 2024 Actual 2025 Budget 2026 Budget 25B vs 26B % Var Salary & Benefits 24,491 25,629 27,423 1,794 7% Outside Service 845 807 1,110 303 38% Other Expenses 5,155 5,493 5,258 (234) (4%) Total 31,490 31,930 33,791 1,861 6% MM Spend by Division  New Requests  Ground Penetrating Radar Walk Behind $24K SWU Maritime AV JV/NWSA C S 28 Waterfront Project Management - Expenses   Expense Growth  Budgeting Outside Services in WPM department. Prior years was budgeted at each facility/department. New Requests  Professional services support to update and expand Project Delivery Process Manual (PDPM) - $150,000. This is a onetime request and is an ongoing continuation of the project started in 2025. In 2025, $200k was budgeted and $100k of budget is remaining. In $000s 2024 Actuals 2025 Budget 2026 Budget 25B v 26B % Var Payroll 6,807 7,749 8,453 704 9% Outside Service 2,689 1,187 8,616 7,429 625% Other Expenses (3,716) (4,302) (4,948) (646) (15%) Total Expenses 5,780 4,634 12,121 7,487 162% 29 Maritime Environmental & Sustainability Expenses  Expense Growth  Increase to payroll is mainly due to:  Full year of Environmental Permitting Specialist and Clean Ports Grant Specialist.   Outside Services: Up mostly due to Clean Port Grant Spending. Details next slide. Other Expenses: A reduction in Capital and ERL projected charging for 2025 approx. $1M. In $000s 2024 Actuals 2025 Budget 2026 Budget 25B v 26B % Growth Payroll 5,393 5,659 6,794 1,135 20% Outside Service 1,991 1,871 3,290 1,419 76% Other Expenses -1,335 -1,721 -761 960 --56% Total Expenses 6,048 5,808 9,323 3,514 61% Note: Other expenses mostly charges to capital offset 30 Maritime Division FTEs 2026 Maritime FTEs Description 2025 Proposed FTEs Changes in 2025: Mid-Year Approvals Eliminated Transfer 2025 Baseline 2026 Budget Changes: Transfer Eliminated New FTEs Approved Net Change FTEs 321.5 2026 Proposed FTEs 324.5 3.0 0.0 0.0 324.5 0.0 0.0 0.0 0.0 Mid-Year approvals: • Environmental Management Specialist - Compliance • Position was Approved as a mid-year hire in 2024 and filled at the end of 2024. Due to Cyber-Attack, Position was missed and not included in 2024 beginning balance. • Environmental Program Manager - Limited Duration in charge of clean ports grant. • Marine Maintenance Pile Driver • Note: Does not include Apprentices and Emergency Hires 31 Maritime Division Draft 2026-30 Capital Improvement Plan (CIP) 2026 Draft Budget 32 CIP Timeline 2026-2030 CIP Planning and Development Continue to Refine CIP, Develop Operating Budgets, and Forecast Funding Capacity Commission Budget Briefings 2026 Tax Levy & Draft Plan of Finance Presented to Commission 2026 Budget May/June July-September October October November Approval of 33 Key Messages/Agenda: • Asset Stewardship share of CIP continues to grow • Preliminary Funding Shortfall: $50-$100M • New Projects Added to CIP - Modernizing Assets • Responding to potential funding constraints: - Exploring funding/development alternatives - Deferred Projects • Potential Emergent Needs 34 Maritime Capital Improvement Plan Priorities Financial Sustainability: Reserve Making new investments that support the Port's long term funding capacity 5% Community & Environment: Stewarding our environmental & social responsibilities 9% Asset Stewardship: Maintaining the Port's capital assets and preserving Seattle's iconic working waterfront 9% *All projects incorporate Community & Environment priorities when possible Economic Development: Real estate development to support maritime businesses and employment 12% 65% Asset Stewardship increasing from 49% to 65% (vs. 2023-2026 POF) 35 Asset Stewardship: Preservation & Modernization - Electrification - $122M • Shore power Extensions and upgrades • Electrical System repair and Rehabilitation • Smart Meters, LED Lighting, EV Infrastructure - Infrastructure Rehabilitation- $426M • Over $200M in berth/dock rehabilitation - P90/P91 Dock Rehab - FT NW Dock West Improvements - SBM Dock A Fixed Pier Rehab • Over $75M in building updates - Parks $5M • T91 Pedestrian & Bike Path • Elliott Bay Connections Infrastructure • He?apus, Jack Block, P66 36 Draft 2026 Maritime Capital Plan Category Primary Priority Title P90/91 Dock Rehab T91 Berth 6 & 8 Redev FT NW Dock West Improvements MMSO Fleet & SWU Facility FT C15 Building Improvements Asset Stewardship MIC Electrical Replacements MMSO Electrical Service Upgrade T91 Substation 5 Replacement Large (+$10M) T91 Cruise Terminal Roof Replace + Solar P66 Building Envelope Repairs SBM Dock A Fixed Pier Rehab P66/P91 Shore Power Extension Community & Environment Waterfront Smart Meters T91 Uplands Dev Phase I Economic Development FT Maritime Innovation Center Financial Sustainability T5 - Harbor Mooring Dolphins Mid-Cap ($300k-$10M) Small Cap (Under $300k) Fleet/Technology Reserve Total 2026 999 13,654 1,580 1,200 710 9,683 500 500 300 300 450 9,540 2,550 16,524 2,700 160 37,825 3,294 6,898 3,528 112,895 2027 20,000 2028 40,000 2029 43,062 18,340 10,473 12,085 10,000 9,000 5,000 1,160 6,000 22,596 950 25,000 200 7,800 59,252 1,100 5,650 3,645 218,251 32,440 10,473 3,274 7,534 3,802 4,800 9,000 3,850 3,660 (3,353) 3,500 5,500 3,700 10,500 25,962 500 3,065 10,311 167,137 513 6,593 500 2,230 20,260 84,539 2030 1,760 896 500 1,640 20,510 25,306 5Y Total Project Total 104,061 104,225 13,654 93,267 59,894 60,000 22,146 22,186 16,069 16,647 9,683 15,908 14,302 14,332 14,300 14,300 10,947 10,947 10,570 10,570 10,110 10,205 32,136 33,000 12,700 12,992 41,524 50,000 2,900 32,029 18,973 19,000 130,528 159,130 5,894 9,304 19,483 58,254 608,128 37 Forecasted Funding Capacity $000s 2026-2030 2031-2035 Maritime CIP 608 71 Expected Additions 300 Funding Shortfall (50) (133) Total Maritime 558 238 NWSA/JV Total Seaport 338 861 253 491 Capacity affected by: • Operating income forecasts • NWSA investments • Environmental liabilities 38 Large Asset Modernization Projects Added to CIP • P90/91 Dock Rehab*: $104M+ • T91 Electrical Rehab: $32M+ - Substations, feeder lines • T91 A2 Cruise Terminal Roof Replacement: $18M (Includes Solar) • P66 Building Envelope Repairs: $11M • SBM Substations: $7.5M • T91 Telecom & Security Relocation: $5M • MIC West Warf & Pile Rehab: $4M *Included in 2025 Capital Plan ($14M) 39 Prioritizing - Changes to CIP • Design funding for T91 Uplands Development • Potential partnership/cost-share • Evaluating development options • FT Projects moved out beyond 5-year CIP: $56M - Fenders Repair/Replacements - Sheet/Pile Corrosion Protection 40 Below the Line - Unfunded Projects - P66 Building HVAC Electrification: $80M - P69 Total: $135M • P69 Concrete Dock Rehab: $58M - Ongoing assessment of pilings - city seismic requirements in 2029 • P69 HVAC: $68M - Continue with repairs $1M+, continuing to assess alternatives • P69 Clerestory & Skylight Replacement: $3M • P69 Front Windows & Door Replacement: $6M - T91 Dredge Berths J, K, M: $7M 41 Potential Emergent Needs • Not included in CIP - Salmon Bay Marina - Omni Terminal Development - Unfunded & prospective projects - Escalation driver • Regulatory Requirements - Seismic & Energy - Examples - Pier 69 Projects • Dock Rehab: $53M - $78M (total), $21M - $46M (seismic) • HVAC: $66M - $125M (total), $25M (seismic) 42 Maritime Capital Improvement Plan Priorities Financial Sustainability: Reserve Making new investments that support the Port's long term funding capacity 5% Community & Environment: Stewarding our environmental & social responsibilities 9% Asset Stewardship: Maintaining the Port's capital assets and preserving Seattle's iconic working waterfront 9% *All projects incorporate Community & Environment priorities when possible Economic Development: Real estate development to support maritime businesses and employment 12% 65% Asset Stewardship increasing from 49% to 65% (vs. 2023-2026 POF) 43 Economic Development Division • Economic Development - 2026 Preliminary Budget • October 14, 2025 44 PORTFOLIO TODAY Business Development + Support Economic Development City Partnership Business Outreach + Webinars Build Regional Leadership Around Trending Economic Themes Maritime Blue Ventures & Blue Wind WMBE/SBE Adherence to Diversity in Contracting Policies Annual Setting of WMBE Goals with Yearly Departmental Performance Reviews PortGen Training + Accelerator Program Community Outreach to WMBE, SBE and Veteran Businesses Real Estate Development Tourism Development + Support MinC construction T91 Uplands progressive design build T91 bike trail improvements Pier 2/CEM ground lease Complete feasibility study on Harbor Ave Bypass roadway to CEM SoDo and WOSCA Des Moines Creek West logistics center with Panattoni STOC Property business plan Tourism Partnerships Locally and Abroad - State of Washington Tourism & Visit Seattle Amplification of community storytelling, hosting Drive Increased Visitor Spending with Data-Informed Approach Tourism Marketing Support Program Spotlight Program Tourism Industry Leadership 45 OPPORTUNITIES CHALLENGES Shape influence and implement infrastructure supporting access of SAF to SEA Airport CASCADIA SAF FIFA & Small Business Support FIFA + SMALL BUSINESS Deepen partnership with City and other partners to protect + develop Port Industrial Lands Ensure job creation with datadriven research, innovative investments to sustain wellpaying jobs Develop 4- to 5-year EDD blueprint; centering Port as economic driver of region SEATTLE GREEN ECONOMY EDD STRATEGY + ACTION PLAN Funding + Time Managing visitors + Prepping of Small Businesses throughout the city, region and state Time, Competitiveness, Sites + Funding National policy + economic climate is less directly influenced by Port of Seattle Sustainable funding of programs + Human Resources 46 2026 + BEYOND Business Development + Support Real Estate Development Implementation of EDD multiyear strategy and action plan Continue work with King County to prepare the region's small businesses for World Cup Provide small business outreach & webinars 5-Year Port wide WMBE Goals Revamp ED City Partnership Grants Alternative Fuels Leadership in WA and Cascadia Shipbuilding and Prepping the Maritime Industrial Base Updated real estate strategy Assessment of WOSCA SEA new "non-aero" revenue New green energy infrastructure projects Upgrading land for "pad ready sites" Federal Center South T 91 Uplands Fishermen's Terminal / Salmon Bay Uplands Tourism Development + Support Responsible Travel Leadership New grant program to support responsible tourism Enhance Tourism Advocacy at state, national, global levels Catalyze FIFA for Future Economic Impact Inspiring, educating and generating responsible travelers through new visitor pledge 47 Commission 2026 Budget Priorities • Shipbuilding Readiness - $100K • SAF (Sustainable Aviation Fuels) Co-sponsor with Environmental ($100K in 2026) • Business & Economic Development Plan ($150K) • State of WA Rural Tourism Support Program (RTS). New grant program to start in 2027 instead. • Rewriting the Map for Equitable Tourism (RMET) Program (included in Existing Programming) • Economic Development Strategic Planning (Already doing internally with real estate strategy update, instead of $250K). • Duwamish HUB - $132K in Operating + $99K in Depreciation budget but directed through External Relations. Charged $110K to Maritime Habitat Initiatives and $132K to Env. Tax Levy. The three community engagement staff in External Relations are charging to Maritime. 48 Economic Development Division - Total Profit & Loss Statement  Profit and Loss Statement:  Tourism up $102K to ($1,289K) from increased payroll.  EDD Levy down $505K to ($2.1M)  Community Biz Connector ($380K)  Tourism Marketing Support ($80K)  Green Economy - ($50K)  MD Blue - up $5K  Remaining from contingency related top level salary adjustments (Comp Plan and Vacancy). In $000s 2024 Actuals 2025 Budget 2026 Budget 25B v 26B $ % Var Revenue 8 3 16 13 424% Expenses 2,951 3,890 3,344 (546) (14%) Op Income (3,335) (3,887) (3,328) 556 14% *$16K of revenue from small lease for Lower Duwamish Community Hub Department Only Expenses  Expenses:  $617K New items -Detail in following slides and appendix  Offset to new items include expense reductions in:  Community Business Connector ($380K)  Real Estate Strategic Plan - ($300K)  No New FTEs In $000s 2024 Actuals 2025 Budget 2026 25B v 26B Budget $ % Var Payroll 3,358 3,807 3,767 (40) (1%) Outside Service 3,622 4,393 4,248 (145) (3%) Other Expenses 993 940 1,147 207 18% Total Expenses 7,973 9,140 9,162 (22) 0.24% 49 Tourism   Responsible Travel Leadership tourism practices and programs throughout Washington's tourism industry Enhance Tourism Advocacy at state, national, global levels  Catalyze FIFA for Future Economic Impact  Inspiring, educating and generating responsible travelers through new visitor pledge Advance this Region as a Leading Tourism Destination and Business Gateway CA Goal EDD Tourism Department In $000s 2025 2026 Budget Budget 25B v 26B $ Var % Personnel 626 640 14 2% Outside Service 1,252 1,184 (68) (6%) Promo Expenses 105 113 8 7% General Expenses 170 240 70 29% Total Expenses 2,154 2,177 23 1% 920K Tax Levy Budget for: State of WA Tourism contract 500K Tourism Marketing Support Program (TMSP) 420K Decrease: Outside Services Tourism Marketing Support Program (TMSP) budget was 500K in 2025 Tourism Marketing Initiatives Promote Air Travel and Cruise/Stay Tourism grant programs enplanement Key Passengerincreases Metrics$ value of promotions, etc. 50 Real Estate Development & Planning Total Real Estate Development & Planning Expenses  MinC construction  T91 Uplands progressive design build  T91 bike trail improvements  Pier 2/CEM ground lease  Complete feasibility study on Harbor Ave Bypass roadway to CEM  SoDo and WOSCA  Des Moines Creek West logistics center with Panattoni  STOC Property business plan CA Goal Responsibly Invest in the Economic Growth of the Region and all its Communities EDD Real Estate & Admin In $000s 2025 Bud 2026 Bud 25B vs 26B ($) 25B vs 26B (%) Salary & Benefits 690 673 (17) (3%) Outside Service 851 901 50 6% Other Expenses 45 35 (10) (22%) Total 1,586 1,608 22 1.4% New Requests: • 150K Bypass Road to CEM Study • 120K STOC post acquisition, business strategy planning • 60K SODO Planning effort • 25K Update Real Estate Strategic Plan (RESP) Vacant position: Real Estate Development Associate Real Estate Development Industrial Lands Duwamish partnership Key Metrics • Green buildings • Property redeveloped/acquired 51 Diversity in Contracting  WMBE/SBE Adherence to Diversity in Contracting Policies In $000s 2025 Budget 2026 Budget 25B v 26B % Var Personnel 1,647 1,749 102 6%  Annual Setting of WMBE Goals with Yearly Departmental Performance Reviews Outside Service 478 476 (2) 0% Promo Expenses 88 104 16 18%  PortGen Training + Accelerator Program General Expenses 141 134 (7) (5%) Total Expenses 2,356 2,463 109 5%  Community Outreach to WMBE, SBE and Veteran Businesses  Owner Controlled Insurance Program 15K  Non-Airport Concessions Feasibility Study 50K CA Goal Become a Model for Equity, Diversity and Inclusion EDD Diversity in Contracting New: Feasibility study for Non- Airport Concession Training Program (SBE/WMBE) 50K 300K Tax Levy budget for: Business Accelerator 150K Highline Smal Business Development Center MOU 50K DBE/ACDBE/WMBE Training Consultant & Outreach 50K PortGen Advance (Construction, Consulting, Goods & Services) 50K 20K Decrease: Outside services Tabor100 Resource Center, 10K & Highline MOU, 10K Diversity in Contracting WMBE/DBE Outreach WBE/DBE Technical Assistance Key Metrics • WMBE/DBE % Utilization • # WMBE/DBE firms utilized 52 Economic Development and Innovation Partnerships  Economic Development City Partnership In $000s 2025 Budget 2026 Budget 25B vs 26B % Var  Business Outreach + Webinars Personnel 766 726 (40) (5%) Outside Service 1,806 1,611 (195) (12%) Promo Expenses 37 60 23 62% General Expenses 233 406 173 42% Total Expenses 2,842 2,803 (39) (1.39%)  Build Regional Leadership Around Trending Economic Themes  Maritime Blue Ventures & Blue Wind Includes EDD City Partnership grants $350k, Maritime Blue 180k, and Greater Seattle Partners 250k Increase: $45K Promotional Hosting Sponsorships Outside Services: High Peak 150K, Shipbuilding Readiness 100K, Teal New Deal/Industrial Lands 50K, Decarbonization 30K Memberships: SAF Cascadia 100K, Sound Industrial Alliance 25K, Mass Timber Association 10K Travel/Training ~ International Study Mission (India) 13K, Singapore 14K and UK, 9K Decrease: Personnel ~ salary was for previous EDD Director CA Goal Responsibly Invest in the Economic Growth of the Region and all its Communities EDD Real Estate & Admin City ED Partnership Grants Duwamish partnership Innovation Initiatives Key Metri cs • Green buildings • Property redeveloped or acquired 53 EDD FTEs - No Net New 2026 Economic Development FTEs Description 2025 Approved Budget Changes in 2023: Mid-Year Approvals Eliminated Transfer 2025 Baseline 2026 Budget Changes: Transfer Eliminated New FTEs Approved Net Change FTEs 18.0 2026 Proposed FTEs 18.0 0.0 0.0 0.0 18.0 Open Real Estate Planning Specialist replaced by Real Estate Development Associate 0.0 0 0 0.0 54 EDD & Portwide Tax Levy Account LOB Tourism 500,000 500,000 EDD Admin 0 100,000 150,000 150,000 50,000 50,000 50,000 50,000 60,000 50,000 950,000 175,000 950,000 180,000 500,000 420,000 Personal Services Diversity in Contracting Other Contracted Services 2025 Budget 2026 Budget EDD Admin Tourism EDD Total Tax Levy budget Purpose State of WA Tourism Contract P-00322245 - Year 2 of 3, CPO=William Zhou. EDD Tax Levy Shipbuilding Readiness Portwide Tax Levy Business Accelerator - 2025 cohort ends March 2026 / 2026 cohorts starts May. Portwide Tax Levy DBE/WMBE Training - WMBE/SBE Capacity Building Certifications. Portwide Tax Levy DC Presents/PortGen Advanced (Construction, Consulting, Goods & Services). Portwide Tax Levy Highline Small Business Development Center MOU (yr2 reset) (SKCF) invoice cycle 6/26/25 60K 2025 will bill 6/25-6/26 anniversary date of mou. Portwide Tax Levy EDD Partnership Grants. EDD Tax Levy Maritime Blue. EDD Tax Levy Tourism Marketing Support Program (grants) CPO=William Zhou. EDD Tax Levy $ 2,260,000 $ 2,450,000 55 New Budget Items 2026 Budget Outside Services Responsible Tourism Projects Data collection and Visitor information Chat 70,000 Bot Creative Services Contractor 24,000 Feasibility Study for Non-Airport Concession/Training Program 50,000 (SBE/WMBE) High Peak 150,000 Shipbuilding Readiness 100,000 Teal New Deal/Industrial Lands 50,000 Total $ 474,000 Memberships 2026 Budget Transformational Travel Council 10,000 Cruise Lines International Association (Australia) 5,000 Visit USA Committees 5,000 Cruise Lines International Association (United Kingdom) 4,000 Global Sustainable Tourism Council 3,000 Tourism Cares 1,500 US Tour Operator Association 1,500 SAF Cascadia 100,000 Seattle Good Network 5,000 Manufacturing Maritime Industrial Association 25,000 Mass Timber Association 10,000 Total $170,000 2026 Budget Travel/Training State of the Market 5,640 ACCCA National Training Institute 8,920 2026 PNWER Annual Summit 5,000 Alaska Industry Tour 4,025 International Study Mission - Seattle Chamber 13,025 Intracity Study Mission - Seattle Chamber 5,275 Port of Seattle Sustainable Fuels Delegation 2,950 x2 SeaTrade Cruise Global 2026 4,975 Singapore Maritime Week 14,350 UK - Port/ Snohomish County SAF 9,025 WCIT Trade Summit 250 Total $ 73,435 56 Maritime Appendix 2026 Preliminary Budget Oct 14, 2025 57 SWOT Analysis - Maritime Division Harmful STRENGTHS WEAKNESSES External Internal Helpful OPPORTUNITIES THREATS • • • Community & Industry Leadership Strategic well positioned infrastructure Commitment to Excellence & Sustainability • • • Financial Constraints Structural & Process Inefficiencies Communication & Collaboration Challenges • • • Revenue Growth & Business Expansion Technology & Process Improvements Local & Regional partners with similar values • • • Economic & Regulatory Uncertainty Workforce & Knowledge Retention Risks Infrastructure & Operational Constraints 58 Total Maritime $ in 000's Ship Canal Fishing & Operations Elliott Bay Fishing & Commercial Operations Recreational Boating Cruise Grain Conference & Event Centers Leasing Portfolio Other Total Revenue Expenses Maritime (Excl. Support Services) Total Direct Maintenance Expenses Economic Development Environment & Sustainability Seaport Finance & Cost Recovery CDO/Planning/WPM Total Support Services 2021 2022 2023 2024 2025 2025 Actual Actual Actual Actual Budget Forecast 4,240 5,618 12,851 9,517 6,112 1,910 17,978 (401) 57,826 4,592 5,975 13,978 30,469 5,792 8,914 19,367 179 89,265 5,076 6,564 15,505 41,726 3,356 6,738 20,764 (81) 99,648 5,169 6,602 16,555 43,145 5,920 7,490 21,921 10 106,811 5,600 6,010 18,273 50,037 5,034 9,151 24,006 0 118,111 5,600 6,010 18,273 50,037 5,409 8,776 22,756 0 116,861 2026 Proposed Budget 4,684 6,374 19,094 57,292 4,440 9,430 24,029 0 125,344 Change from 2025 Budget $ % (916) 364 822 7,255 (594) 279 24 0 7,233 -16% 6% 4% 14% -12% 3% 0% 6% 25,597 25,597 15,083 1,169 2,014 1,497 586 20,349 33,629 33,629 17,021 1,830 3,356 1,506 1,287 25,000 36,643 36,643 19,317 2,543 4,028 1,738 2,731 30,357 35,663 35,663 20,832 2,202 4,992 2,222 3,878 34,125 40,859 40,859 19,581 2,133 5,136 2,083 4,858 33,791 41,184 41,184 19,981 2,133 5,145 2,233 5,008 34,500 43,167 43,167 21,167 3,157 8,152 2,380 7,710 42,567 2,308 2,308 1,586 1,024 3,016 297 2,852 8,775 6% 6% 8% 48% 59% 14% 59% 26% IT Police Expenses External Relations Other Central Services Aviation Division / Other Total Central Services / Other 3,679 3,269 2,245 9,522 513 19,228 4,296 3,902 2,729 11,530 514 22,972 4,731 5,620 3,005 12,769 471 26,596 5,250 6,044 3,620 16,852 436 32,202 5,235 5,145 3,664 14,521 533 29,098 5,758 5,145 3,375 14,787 533 29,598 5,733 5,697 3,957 14,374 521 30,282 498 552 293 (146) (12) 1,184 10% 11% 8% -1% -2% 4% Total Expense NOI Before Depreciation Depreciation NOI After Depreciation Pension Credit Adjustment Impact 65,174 (7,348) 21,554 (28,902) 6,662 81,600 7,665 21,974 (14,310) 2,396 93,596 6,052 22,421 (16,369) 3,649 101,991 4,820 23,850 (19,030) 3,145 103,748 14,363 21,433 (7,070) 0 105,282 11,579 21,433 (9,854) 0 116,016 9,328 27,161 (17,832) 0 12,268 (5,035) 5,727 (10,762) 12% -35% 27% -152% 59 Ship Canal Fishing & Operations Rate Increases FT & MIC FT Rec SalBM Location Commercial & Fishing Charter Transient Daily Services & Storage Small Forklift & Crane /Hosit Rental Monthly Daily/Guest Monthly Daily/Guest Slip Size All All All All Rate Change 3% Increase from $1.55 to $1.77 Increase from $1.75 to $1.90 3% All 0% Up to 30' 31' to 50' Over 50' all all all 0% 6% 10% 3% 0% 0% 60 Gross Revenue Outlook - Portfolio Management Lease, Parking Garage and Concession Rent (Non-CEC) 2026 Revenue Budget Drivers: • Lower demand due to discounted prepaid rates for cruise passengers at parking garages by T91 • Parking declined in part due to a reduction in employer-subsidized parking at Bell Street Garage • Gross Revenue Total Gross Revenue Total Operating Profit WTC West soft office lease market Total Direct Expenses Central Harbor: T91 Upland, T102, WTCW, P66, Bell Street Marina Office: FT, MIC, SBM, SaBM Maritime Industrial: T91 (Piers), T108, T106 61 P69 Facilities Expense Growth:  Increased activity at P69, increasing demand for supplies  Resumed budgeting for postage & delivery charges Expense Decrease:  Salary & benefits savings due to difference in salary expenses associated with new staffing changes  Reduced carpet cleaning services costs due to new vendor contract with lower rates In $000s 2024 Actuals 2025 Budget 2026 Budget 25B v 26B % Var Payroll 550 613 580 (33) (5%) Outside Service 341 386 369 (18) (5%) Other Expenses 735 639 833 194 30% Total Expenses 1,625 1,638 1,782 144 9% New Request  A new P69 conference table 62 MD Admin  In $000s 2024 Actuals 2025 Budget 2026 Budget 25B v 26B % Var Payroll 726 1,249 733 (516) (41%) Outside Service 67 31 21 (11) (34%) Other Expenses 143 201 179 (22) (11%) Total Expenses 936 1,481 933 (548) (37%) Expense Decrease:  Outside Services -decreased budget for Consulting fees for Director's retreat, 10K  Payroll - three positions transferred to other departments, 516K  Travel & Training - eliminated budget for International Executive 12K & International Green Marine trips 11K 63 MD CDO & Planning CDO 2026 Budget 25B v 26B Payroll 348 348 Outside Service 0 0 Other Expenses 5 5 Total Expenses 353 353 In $000s  CDO Budget taken from 2025 MD Admin Budget 2024 Actuals 2025 Budget % Var Planning   Planning Payroll Increase:  Comp Plan increases Planning Outside Services Decrease:  Adjusting for capacity trend of previous years In $000s 2024 Actuals 2025 Budget 2026 Budget 25B v 26B % Var Payroll 731 1,069 1,212 143 13% Outside Service 168 701 601 (100) (14%) Other Expenses 13 28 24 (4) (14%) Total Expenses 912 1,798 1,837 39 2% 64 ME&S Outside Services Increases to baseline include: Eng Env Sustainability specifications Transfer from Eng 250k was reduced to 100k. EPA Grant 1,203,000 65 2026 Equity in Budgeting 1. Did you have difficulty spending your budgeted equity dollars in 2025? And if so, why? • In 2025 Maritime budgets, equity dollars were focused on increasing WMBE utilization, community outreach and sponsorships that include workforce development. • Training and travel dollars for teams were added in to support continual employee development. • There was no difficulty spending our budgeted equity dollars. 66 2026 Equity in Budgeting 2. In your 2026 budget, how did your Division choose to prioritize equity programs with the available budget? • At the division level, we prioritized equity programs by ensuring equitable opportunities for travel/training/development across all departments, and within individual departments, travel/training/development opportunities are distributed equitably amongst staff year over year. • Additionally, we included several sponsorship opportunities for workforce development and teams added in funds to support workforce in the Maritime community. 67 2026 Equity in Budgeting 3. Additionally, is your Division implementing programs in an equitable way or plans to make programming more equitable, even if it's not directly associated with your budget or a budget request? If so, please explain. • No specific new programs - the Division supports equitable opportunities for travel/training/development across all departments, and within individual departments, travel/training/development opportunities are distributed equitably amongst staff year over year. 68 2026 Equity in Budgeting 4. How did you engage with staff and/or community during the 2025 budget process? • In Maritime we regularly engage staff through our business planning and budget planning process to determine priorities for the coming year. We incorporated Change Team members into our business planning process to ensure we were reviewing our business plan with an equity lens. In regard to budgeting, several teams weigh into the budget process throughout the budget season. • We partner with the community in a variety of ways to obtain feedback that contributes to our budgets each year and influences decisions. 69 2026 Equity in Budgeting 5. What new items have you added related to Equity, Diversity, and Inclusion in your 2026 budget (new requests and baseline budget)? • New sponsorships to support Workforce Development. Training opportunities for staff who have not previously participated in travel/training opportunities. 70 Stormwater Utilities Expenses   2024 2025 Budget 2026 Budget 25B v 256B % Growth In $000s Expense Growth Actuals  Payroll increases correspond to staff increases in 2024 and comp project Payroll increases. 713 750 842 92 12%  Other expense increases are utilities, Outside Service 593 803 651 (152) -19% this is due to a change in accounting practice charging all Non-Tenant SWU Other Expenses 74 3,810 2,673 charges to Org 8001. In prior years, Total Expenses 1,380 5,363 4,165 these charges were included in property level Orgs. The projected 8% Note: 1) Other Expenses Reflect $1.8M of utilities which will be charged out to Maritime and NWSA. 2) Full P&L for SWU rate approval in November 11, 2025. increase is applied. These numbers are 3) NWSA utility allocated out of Org 8001 to NWSA Org basis 1,931K in 2026 vs 3,029K in 2025. preliminary. New Requests  Support for Industrial Stormwater Permit Transition - Net $316,000 for two years. The total cost of this effort will be $500,000. 71 Maritime Division Draft 2026-30 Capital Improvement Plan (CIP) - Appendix 72 Terminal 91 • Total Facility: - Revenue $50.1M - Op. Exp. $30.6M - NOI $19.5M - Depr. $7.2M - Net Income: $12.3M • Uplands revenue est: $3M (2030) • Planned 5Y Spend: ~$300M - Necessary for current operation - Potential new revenue - Triple bottom line • • • • • • • • • Uplands Phase 1 - $50M Dock Rehab - $104M Berth 6&8 - $14M A2 Cruise Terminal Roof Replacement - $11M Phase 2 Infrastructure - Pad Ready - $9M Cruise Gangway - $2M Substation 5 and 2 - $11M Telecom & Security Relocation - $5M Electrical Feeder Replacement - $5M 73 Fishermen's Terminal • Total Facility: - Revenue $6.7M - Op. Exp. $13.8M - NOI ($7.1M) - Depr. $2.8M - Net Income: ($9.9M) • Planned 5Y Spend: $110M+ - - - - - - - - NW Dock Improvements - $60M C15 Building Improvements - $16M West Wall Fender Replacement - $10M FT Entrance Paving - $4M S Wall Fender Repl & Corrosion Protection - $3M W Wall Sheet Pile Corrosion Protection - $3M FT Maritime Innovation Center - $3M S Wall West End Improvements - $1M 74 Economic Development Appendix 2026 Preliminary Budget October 14, 2025 75 SWOT Analysis - Economic Development Division Harmful STRENGTHS WEAKNESSES External Internal Helpful OPPORTUNITIES THREATS • • • • Port Commission committed to Equitable Economic & RE Development Port partnerships advance equity and regional economic development Talented, connected and respected team Diverse attractive properties • • • • Policies and regulations impacts Port efficiency and competitiveness The community assumes Port has abundant and unlimited resources Diversity in Contracting impacted by staff/institutional biases Challenging properties • • • MInC and other new facilities can drive maritime industry sustainability Coordination among Port departments could be better maximized to deliver strong and impactful programs and initiatives Responsible, sustainable and managed tourism • • • • • Geopolitical/economic uncertainty and tariffs Federal, state, city funding shortfalls Regional collaboration/scaling challenging Continued inflation and interest rates affect project cost and feasibility Affordability for companies and their workforce to locate here 76 Budget to other Subclasses Org 1440-Tourism 2000-Real Estate Dev. & Planning 2300-Diversity in Contracting Subclass Description State of WA Tourism Contract P-00322245 - Year 2 of 3, CPO=William Zhou Tourism Marketing Support Program (grants) CPO=William Zhou Total $920,000 2510-Pier 69 Facilities Management P69 Space Planning and future planning Aviation Division - New Appraisal IDIQ Aviation Division Architectural support (general) Aviation Division Port Surveys 3630-Non-Aero Commercial Properties DMC West ~ Onsite visits and meetings, tracking GLA items. Construction monitoring reimbursed by developer late 2026 or early 2027 STOC post acquisition, buildings and facilities and business strategy/planning (sea RESP implementation) Police Relocation Bypass Road to CEM Study 5222-Pier 2 Uplands and CEM SW Seattle (Pier 2/Jack Block Park) FT Redevelopment Cont'd 5523-FT Office & Retail Leased 5318-T-91 General Uplands T91 Pre-Development efforts including communications support 5454-Terminal 46 Cruise Operations T46 future planning effort Total $625,000 1330-Risk Management Feasibility study for Owner Controlled Insurance Program OCIP DBE/WMBE Training - WMBE/SBE Capacity Building Certifications 2320-EDD Tax Levy Business Accelerator - 2025 cohort ends March 2026 / 2026 cohorts starts May DC Presents/PortGen Advanced (Construction, Consulting, Goods & Services) 2970-Portwide Tax Levy Highline Small Business Development Center MOU (yr2 reset) (SKCF) invoice cycle 6/26/25 60K 2025 will bill 6/25-6/26 anniversary date of mou Total $315,000 2320 - EDD Tax Levy Misc Payment Reqs - [Seattle Public Utilities, Acct 0260257138] - HUB 2750-Envr Tax Levy 7205-Economic Dev Div Contigency 6400-Maritime Habitat Initiatives 2750-Envr Tax Levy 6400-Maritime Habitat Initiatives Misc Payment Reqs - [Seattle City Light, Acct 59444472285] - HUB Misc Payment Reqs - [Puget Sound Energy, Acct 220028655003] - HUB RNG Exp (Renewable Natural Gas) [Acct 220028655003] - HUB Misc Payment Reqs - [Waste Management, Acct 25-44150-03003] - HUB Misc Payment Reqs - [Comcast, Acct 8498 32 005 3580423] - HUB Port leasing Bldg and parking lot (8600 14th Ave S) from South Park Seattle Properties LLC Budget $500,000 $420,000 20,000 10,000 5,000 20,000 25,000 120,000 50,000 150,000 25,000 30,000 150,000 20,000 EDD Tax Levy 2,100,000 Real Estate Dev. Portwide Tax Levy Contingency (Hub) D.I.C. Risk Management 625,000 350,000 2320-EDD Tax Levy 7210-Economic Dev Div Admin 2970 - Portwide Tax Levy 15,000 $ 3,320,576 15,000 50,000 150,000 50,000 50,000 545 670 1,719 664 33 3,329 6,600 57,648 60,000 49,684 49,684 Total $230,576 950,000 180,000 100,000 EDD Partnership Grants Maritime Blue Shipbuilding Readiness 230,576 Total $1,230,000 Total Budget to other Subclasses $3,320,576 77 Memberships Org * Name 1440-Tourism 1440-Tourism 1440-Tourism 2000-Real Estate Dev & Planning Adm 2000-Real Estate Dev & Planning Adm 2000-Real Estate Dev & Planning Adm 2000-Real Estate Dev & Planning Adm 2000-Real Estate Dev & Planning Adm 2000-Real Estate Dev & Planning Adm 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 7210-Economic Dev Div Admin 7210-Economic Dev Div Admin 7210-Economic Dev Div Admin 7210-Economic Dev Div Admin 7210-Economic Dev Div Admin 7210-Economic Dev Div Admin 7210-Economic Dev Div Admin 7210-Economic Dev Div Admin 7210-Economic Dev Div Admin 7210-Economic Dev Div Admin Class Name 1440-Tourism 1440-Tourism 1440-Tourism 2000-Real Estate Dev & Planning Adm 2000-Real Estate Dev & Planning Adm 2000-Real Estate Dev & Planning Adm 2000-Real Estate Dev & Planning Adm 2000-Real Estate Dev & Planning Adm 2000-Real Estate Dev & Planning Adm 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 2300-Diversity in Contracting 7210-Economic Dev Div Admin 7210-Economic Dev Div Admin 7210-Economic Dev Div Admin 7210-Economic Dev Div Admin 7210-Economic Dev Div Admin 7210-Economic Dev Div Admin 7210-Economic Dev Div Admin 7210-Economic Dev Div Admin 7210-Economic Dev Div Admin 7210-Economic Dev Div Admin Full Name of Organization * US Tour Operator Association Transformational Travel Council Tourism Cares Urban Land Institute National Association of Industrial and Office Properties Urban Land Institute Urban Land Institute National Association of Industrial and Office Properties National Association of Industrial and Office Properties Latino Chamber Membership Conference of Minority Transportation Officials NW Minority Builders Association Womans Business Enterprise Council Tabor 100 African Chamber Membership Soundside Alliance for Economic Development National Association of Minority Contractors American Contract Compliance Association (ACCA) Airport Minority Advisory Council AMAC Northwest Minority Mountain Supplier Development Council National Forum for Black Public Administrators National Institute of Governmental Purchasing (NIGP) Ventures Construction Management Association of America (CMAA) SAF Cascadia Seattle Good Network Manufacturing Maritime Industrial Association International Economic Development Council Washington Economic Devlopment Association Mass Timber Association International City/County Management Association Center for Advanced Manufacturing Puget Sound US Travel Association (scheduled to pay in September) Greater Seattle Business Association Membership Type Name Membership Category * Name Department Economic/Trade Development Organization Department Industry/Professional Organization Department Industry/Professional Organization Individual Industry/Professional Organization Individual Industry/Professional Organization Individual Industry/Professional Organization Individual Industry/Professional Organization Individual Industry/Professional Organization Individual Industry/Professional Organization Portwide/Corporate Industry/Professional Organization Department Industry/Professional Organization Department Industry/Professional Organization Department Industry/Professional Organization Department Industry/Professional Organization Portwide/Corporate Industry/Professional Organization Portwide/Corporate Industry/Professional Organization Portwide/Corporate Industry/Professional Organization Individual Industry/Professional Organization Individual Industry/Professional Organization Department Economic/Trade Development Organization Individual Industry/Professional Organization Individual Industry/Professional Organization Department Industry/Professional Organization Individual Industry/Professional Organization Portwide/Corporate Economic/Trade Development Organization Portwide/Corporate Economic/Trade Development Organization Portwide/Corporate Economic/Trade Development Organization Department Economic/Trade Development Organization Portwide/Corporate Economic/Trade Development Organization Portwide/Corporate Economic/Trade Development Organization Division Economic/Trade Development Organization Division Economic/Trade Development Organization Division Economic/Trade Development Organization Division Economic/Trade Development Organization FY2026 FY2025 1,500 1,500 10,000 1,500 1,500 400 400 300 300 400 400 300 300 400 400 300 300 790 790 3,000 2,000 3,000 3,000 2,500 2,500 1,500 1,500 2,000 2,000 5,000 5,000 4,000 4,000 900 2,400 945 225 800 800 200 200 80 2,000 180 100,000 5,000 25,000 500 2,500 2,500 10,000 10,000 200 5,000 5,500 2,500 182,995 57,215 78 Tourism Discretionary Budget Tourism In $000s Outside Services Tourism contracts (six contracts) Other services (printing, etc.) Adobe Acrobat, Annual Simpleview Software (June) State of WA Tourism Annual Conference Tourism Industry Event Sponsorships CP Communications P-00321452 - Year 3 of 3, CPO=Maza 2025 Budget 2026 Budget 25B v 26B %Var In $000s 2025 Budget 2026 Budget 25B v 26B %Var Advertising 239,000 5,000 8,283 10,000 5,000 0 0 0 345 0 0 12,500 -239,000 -5,000 -7,938 -10,000 -5,000 12,500 -100% -100% -96% -100% -100% #DIV/0! Airline Co-op 15,000 0 -15,000 -100% Barrhead Travel 10,000 0 -10,000 -100% Digital Influencers 10,000 0 -10,000 -100% Domestic Cruise Co-op 20,000 0 -20,000 -100% Real Response Media 20,000 0 -20,000 -100% 0 24,000 24,000 #DIV/0! Tourism Industry Publications 10,000 0 -10,000 -100% 0 12,500 12,500 #DIV/0! Air France 0 10,000 10,000 #DIV/0! Tourism Representation Agency (Nordics) P-00322079 - Year 2 of 3. CPO=Maza Barrhead Travel 0 10,000 10,000 #DIV/0! 0 30,000 30,000 #DIV/0! Chelsea Magazine 0 10,000 10,000 #DIV/0! Travel Trade Contractor New contract for 2026 consolidating the work of two contractors into one. Visit Seattle P-00319691 - Year 1 of 2, CPO=William Zhou Cruise Australia 0 5,000 5,000 #DIV/0! 0 0 35,000 80,000 35,000 80,000 #DIV/0! #DIV/0! KEXP 0 10,000 10,000 #DIV/0! Northstar Publishing 0 20,000 20,000 #DIV/0! 0 70,000 70,000 #DIV/0! Norwegian Cruise Lines Germany 0 5,000 5,000 #DIV/0! SAS Airlines 0 10,000 10,000 #DIV/0! 65,000 90,000 5,000 0 0 0 0 0 0 0 0 0 0 0 0 25,000 5,000 -500 -1,000 -1,000 -500 -4,000 -1,000 -4,000 -500 -500 -500 -10,000 -1,000 38% #DIV/0! -100% -100% -100% -100% -100% -100% -100% -100% -100% -100% -100% -100% Social Media 0 15,000 15,000 #DIV/0! Travel Gossip 0 4,000 4,000 #DIV/0! 0 17,825 17,825 #DIV/0! 1,200 0 -1,200 -100% State of WA Tourism Annual Conference 10,000 10,000 0 0% Tourism Industry Event Sponsorships 5,000 7,500 2,500 50% State of WA Tourism contract (EDD Tax Levy) 500,000 500,000 0 0% Tourism Marketing Support Program (TMSP) (EDD Tax Levy) 500,000 420,000 -80,000 -16% Creative Services Contractor RFP out Q3 2025, CPO=William Zhou Pacific Northwest Consultants P-00321431 - Year 3 of 3, CPO=Maza Responsible Tourism Projects Data collection and Visitor information Chat Bot Promotional Expense Familiarzation Tours (TBD) Promotional Items Aer Lingus Roadshow (Ireland) Asia Sales Mission (Korea) Brand USA Travel Week (London) CLIA CruiseWeek (Netherlands) Europe Sales Mission (France) IPW (Chicago) Media event (New York) Mid-Atlantic Travel Show (Iceland) State of WA Tourism Conference Tourism Cares' Meaningful Travel Summit Tourism events (TBD) UK Sales Mission (Glasgow) 500 1,000 1,000 500 4,000 1,000 4,000 500 500 500 10,000 1,000 Miscellaneous Expense Misc. Travel & Other misc. expenses Trade Business & Community EDD Tax Levy 79 Real Estate Development & Planning Discretionary Budget 2025 Budget 2026 Budget 25B v 26B %Var 0 0 0 0 0 0 0 0 300 150 30,000 30,000 90,000 150,000 30,000 50,000 25,000 60,000 25,000 20,000 150,000 25,000 615 150 0 0 0 150,000 30,000 50,000 25,000 60,000 25,000 20,000 150,000 25,000 315 0 -30,000 -30,000 -90,000 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 105% 0% -100% -100% -100% AV-RE Strategy Implementation (Feasibility and Due Diligence Efforts for Various Properties) CEM Study Due Diligence (already part of existing budget baseline) MD-New Service Directives - Design Services 120,000 100,000 60,000 0 0 0 -120,000 -100,000 -60,000 -100% -100% -100% MD-RE Strategy Implementation (Feasibility and Due Diligence Efforts for Various Properties)-$60K increase Real Estate Strategic Planning for FT, NWSA and AV Real Estate Strategic Planning for FT, NWSA and AV Core (RevuCAD) for Alhadeff and Lise 120,000 200,000 100,000 300 0 0 0 0 -120,000 -200,000 -100,000 -300 -100% -100% -100% -100% In $000s Outside Services Bypass Road to CEM Study FT Redevelopment Cont'd Police Relocation Port RE Strategy in 2025 for 2026. SODO Planning Effort combine with GSA stuff SW Seattle (Pier 2/Jack Block Park) will be charged to the pier 2 subclass T46 future planning effort T91 Pre-Development efforts including communications support update resp Real Estate Strategic Plan Adobe Acrobat Pro and Visio for team members DropBox AV-New appraisal IDIQ MD-New appraisal IDIQ AV-New Service Directives - Design Services 80 Diversity in Contracting Discretionary Budget In $000s Outside Services Community Development Fund Training Language Access Service Mentor Protégé (AGC ACEC, WASDOT, Sound Transit) - MOU Photography Services Tabor 100 Resource Center Feasability Study for Non-Airport Concession/Training Program (SBE/WMBE) Print Materials Adobe Creative Suite (Illustrator, Photoshop, InDesign) Constant Contact per 2026 Budget Guidelines Promotional Expense Miscellaneous Replenish items New Banner, Tablecloth, Swag Advertising A Ryco/The Urban Forum Northwest Radio Daily Journal of Commerce Daybreak Star Radio >> United Indians of All Tribes Foundation - Daybreak Star El Rey Radio El Siete Dias Federal Way Greater Seattle Business Association Korea Times Misc Advertising Northwest Asian Weekly NW Military Runta News Scanner Seattle Medium Newspaper Tabor 100 Advertising Miscellaneous Expense Misc Contingency Possible Certification Efforts for WMBE's doing work with Port 2025 Budget 2026 Budget 25B v 26B %Var 50,000 5,000 50,000 1,500 60,000 0 2,500 50,000 1,500 50,000 -50,000 -100% -2,500 -50% 0 0% 0 0% -10,000 -17% 0 0 0 0 50,000 1,500 2,355 3,400 50,000 #DIV/0! 1,500 #DIV/0! 2,355 #DIV/0! 3,400 #DIV/0! 7000 3000 7,000 3,000 8,000 2,000 8,000 0 0 0% 0 0% 0 #DIV/0! 0 0% -2,000 -100% 2,000 2,500 3,500 2,500 2,500 3,000 8,500 7,000 2,000 4,750 3,000 10,000 2,500 2000 2,500 3,500 2,600 2,500 3,000 8,500 7,000 2,000 4,750 3,000 10,000 2,500 0 5000 5000 0 0 0 0 100 0 0 0 0 0 0 0 0 0 0% 0% 0% 4% 0% 0% 0% 0% 0% 0% 0% 0% 0% In $000s Trade Business & Community Alliance NW (Thurston County) March Association of Woman and Minority Businesses (AWMB) Contractors Day (Sponsorship) March Ethnic Chambers Events: WMBE / Chamber Community Connections Industry Partner Training Classes (Construction & Consulting) National Association of Minority Contractor's Gala October North Puget Sound Contracting Forum (Snohomish County) October NW Minority Supplier Development Council Trade Show June Regional Contracting Forum September Seattle Urban League Event November Tabor 100 Gala (2 Tables) September US Department of Transportation SBTRC/MBDA Department of Commerce quarterly Veterans Association Portwide Tax Levy Business Accelerator Highline Small Business Development Center MOU (yr2 reset) (SKCF) invoice cycle 6/26/25 60K 2025 will bill 6/25-6/26 anniversary date of mou DBE/ACDBE/WMBE Training Consultants & Outreach DC Presents/PortGen Advanced (Construction, Consulting, Goods & Services) 2025 Budget 2026 Budget 25B v 26B %Var 5,000 5000 5,000 20,000 25,000 1,500 5000 0 0% 0 -20,000 -100% 20000 -5,000 -20% 25000 23,500 1567% 0 0% 0 1500 1,500 #DIV/0! 0 1,000 2,500 1000 2000 1000 1,000 #DIV/0! 1,000 100% -1,500 -60% 0 1,250 5000 1200 5,000 #DIV/0! -50 -4% 5,000 5,000 0 0 -5,000 -100% -5,000 -100% 150,000 150,000 0 0% 60,000 50,000 50,000 -10,000 50,000 0 -17% 0% 50,000 50,000 0 5,000 #DIV/0! -5,000 -100% 81 0% Economic Development & Innovation Partnerships Discretionary Budget In $000s Outside Services High Peak Business Plan for Decarbonization Greater Seattle Partners Teal New Deal/Industrial Lands Adobe Pro 3x115ea & Visio 160 Greater Seattle Partners Shipbuilding Readiness Software Lics & Maint. Agreemt Promotional Expense Promotional Hosting Green Economy - Public Ports professionals throughout the greater PNW Miscellaneous Expense EDD Opportunity Fund Trade Business & Community Sponsorships Trade Business & Community Tax Levy Community Biz Connector EDD Partnership Grants Green Economy-Working with Regional Partners about making some investments around wind. Maritime Blue 2025 Budget 2026 Budget 25B v 26B 250,000 600 150,000 30,000 250,000 50,000 505 100,000 - 150,000 30,000 250,000 50,000 505 (250,000) 100,000 (600) 3,400 5,000 12,500 - 9,100 (5,000) 150,000 150,000 - 28,000 45,000 - 45,000 (28,000) 380,000 950,000 50,000 175,000 950,000 180,000 (380,000) (50,000) 5,000 82 EDD 2026 Equity in Budgeting 1. Did you have difficulty spending your budgeted equity dollars in 2025? And if so, why? • No 83 2026 Equity in Budgeting 2. In your 2026 budget, how did your Division choose to prioritize equity programs with the available budget? • In 2025, we established an Ombudsman role within Diversity and Contracting to provide technical assistance to small businesses and improve their access to contracting opportunities. We are continuing this work while also reviewing prior-year results and collaborating with Labor partners to identify ways to increase our MWBE contracting goals for 2026. 84 2026 Equity in Budgeting 3. Additionally, is your Division implementing programs in an equitable way or plans to make programming more equitable, even if it's not directly associated with your budget or a budget request? If so, please explain. • By encouraging staff at all levels to share ideas for advancing innovation and inclusion, while maintaining continuous dialogue with senior managers. 85 2026 Equity in Budgeting 4. How did you engage with staff and/or community during the 2025 budget process? • We engage regularly with our external partners and receive valuable feedback on our budget priorities. We also meet consistently with Port staff to gather input and ensure alignment on budget planning. Internally, our budget process and expectations are discussed during regular staff meetings to keep everyone informed and involved. 86 2026 Equity in Budgeting 5. What new items have you added related to Equity, Diversity, and Inclusion in your 2026 budget (new requests and baseline budget)? • New sponsorships that support innovation, equity, and diversity • Start implementing the updated 5-year port-wide WMBE goals • Provide outreach and webinars to diverse small businesses • Integrate and include diverse small businesses in the tourism development initiatives, specifically as part of our familiarization tour offerings 87