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Ogdensburg Bridge and Port Authority’s 2018-19 budget anticipates $8 million in revenue

Posted 1/5/18

OGDENSBURG -- The Ogdensburg Bridge and Port Authority (OBPA) Board of Directors recently unanimously passed their 2018-2019 budget where they anticipate $8 million in revenue. Details of the budget …

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Ogdensburg Bridge and Port Authority’s 2018-19 budget anticipates $8 million in revenue

Posted

OGDENSBURG -- The Ogdensburg Bridge and Port Authority (OBPA) Board of Directors recently unanimously passed their 2018-2019 budget where they anticipate $8 million in revenue.

Details of the budget include $1.6 million projected gains in net income of approximately $700,000 for the bridge, $700,000 for the Port of Ogdensburg, $600,000 for the Industrial Park, and $600,000 allocated for continued Ogdensburg International Airport growth, according to an email press release from OBPA Executive Director Wade Davis.

The budget reflects continued growth in bridge passenger traffic, up 2.7 percent, and increases in commercial traffic of 3.5 percent over 2017 levels.

Additional anticipated gains include a future wind turbine project, new grain storage bins, forecasted improvements in marine terminal traffic, and airport revenues exceeding $1 million annually for the first time in the airport’s history.

“We are so grateful of the support of the many people who have used our services this past year,” authority Chairman Samuel J. LaMacchia said in a pre-written statement. “We’d also like to thank our local-regional leaders, including State Senator Ritchie, State Assemblywoman Jenne, House Representative Stefanik, Governor Cuomo, US Senator Gillibrand, and US Senator Schumer. With their help, OBPA can continue to make realistic investments for the future.”

The OBPA’s approximately $24 million 2018-19 capital improvement plan includes $2.9 million in grant-funded airport improvements, $2 million in grant-funded rail bridge repairs, $19 million in grant-funded port improvements, and $135,000 in OBPA-funded bridge repairs.

The plan also highlights unfunded needs of $120 million for future bridge repairs. Currently, the OBPA has outstanding grant applications to both the TIGER and INFRA USDOT programs.

Other items of note in the budget include the cash-flow neutral retirement of $0.8 million in 2002 Border Station debt service payments offset by $0.8 million reduction in annualized GSA lease payments. The OBPA is currently renegotiating a new long-term lease with the GSA anticipated in September 2018.

“This fiscally responsible budget trims expenses while supporting regional economic growth through steady growth and future capital improvement projects,” Davis said in the news release.

“2018 is going to be another very exciting year for the Authority and the region,” he said.

Details of the OBPA budget can be found at http://www.ogdensport.com/accountability/reports/annual_budget_2018-19/.