BOSTON – The Massachusetts Port Authority (Massport) today voted to approve a Business Plan and Budget for Fiscal Year 2017 of $721.5 million. The budget reflects Massport’s commitment to key areas including: safety and security at its facilities, customer service, increasing high occupancy vehicle use, being a good neighbor to those who live closest to its facilities, and investing in its assets while maintaining its AA credit rating.
About 65 percent of the budget -- $468.2 million, a 4.2 percent increase over the previous year when excluding one-time maintenance expenses – will go to fund the day-to-day operations of the Aviation, Maritime and Real Estate business lines as well as the Authority’s support departments. Some $253.3 million -- a 15 percent increase over last year -- will go to the capital program to properly maintain the runways, terminals, roadways and docks that support the regional economy, and make payments to Massport’s bond holders. That increase is built in to help fund $1 billion in new debt the Authority will take on to finance future projects.
Safety and security are the top priority of Massport and the Authority will spend some $85 million in personnel, technology, training and inspections to keep the people who use and who work at our facilities safe.
“Massport is making critical investments in safety and security, customer service, public transit to and from the airport, and preparing for the future while keeping what we have in good shape,’’ said Massport CEO Thomas P. Glynn. “Our overall headcount is where it was in FY 2002. This comes as Logan is handling more passengers – up 9 percent so far this year -- flying to more destinations than at any time in its history; and Conley Container Terminal is busier than it has ever been.’’
Promoting the use of high occupancy vehicles to and from the airport is critical for environmental reasons and to ensure traffic can flow on airport roadways and there is space at the terminal curbs for vehicles. As part of the budget, Massport will spend nearly $1 million more on Logan Express by adding a daily 2:15 a.m. bus from the four suburban sites to support the passenger growth at Logan, increasing Saturday frequency on the busiest routes, and extending the Back Bay Logan Express. In addition, Massport will continue to offer free Silver Line service from the airport to South Station.
Some customer service initiatives include $60 million to connect Terminal C to Terminal E post-security to help passengers connecting to and from international flights, and $30 million in new HVAC systems for Logan Terminals.
The Massport Board also voted today to increase hourly and monthly parking rates in South Boston, which is expected to add $245,000 in new revenue to support maritime activity. Monthly parking rates will be up to $330. Hourly rates will rise between $1 and $4 depending on length of stay, and the daily parking rate will be $36.
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