Port of Skagit approves 2019 budget
BURLINGTON — The Port of Skagit finalized its 2019 budget Tuesday.
The budget shows an expected increase in operating expenses for 2019 as the port begins managing the Sedro-Woolley Innovation for Tomorrow (SWIFT) Center in Sedro-Woolley.
In 2019, the SWIFT Center is expected to add $1.6 million in expenses and $193,395 in income for the port.
Those numbers may change as the port gets a better idea of how much it will cost to renovate and restore some of the SWIFT center’s historic buildings, Executive Director Patsy Martin said.
“(The SWIFT Center) is a great unknown until we know what we’re up against,” Martin said.
The port estimates a net income of $6.9 million for 2019, up from $4.2 million in 2018, according to port documents.
The port’s capital budget for 2019, which includes large projects such as the SWIFT Center and the construction of the port’s fiber optic internet backbone, allocates $7.3 million to be spent next year, according to port documents.