January 6, 2026
Economic Development
PORT
DATE: January 6, 2026
TO: Mayor Martinez and Members of the City Council
FROM:
Charles Gerard, Port Director
Emily Combs, Finance Director
Rita Martinez, Finance Manager
Lizeht Zepeda, Senior Business Assistance Officer
Kyle Lam, Management Analyst
Subject:
Port of Richmond Enterprise Fund Financial Overview
Report
FINANCIAL IMPACT: There is no fiscal impact for receiving this item.
PREVIOUS COUNCIL
ACTION:
October 21, 2025
STATEMENT OF THE
ISSUE:
This report provides the City Council with an overview of the Port of Richmond’s financial structure, including how Port revenues are generated through tariffs and leases, how those funds are used, and the funding mechanisms
the Port may access to fund larger infrastructure projects and improvements.
RECOMMENDED ACTION: RECEIVE the Port of Richmond Financial Report and presentation, which provides an overview of Port revenue sources, tariff structures, and funding mechanisms for
larger infrastructure projects – Economic
Development/Port (Charles Gerard 510-620-6792/Rita
Martinez 510-621-1546). This item was continued from
the December 16, 2025, meeting.
AGENDA
REPORT
January 6, 2026
DISCUSSION:
The Port of Richmond is one of five publicly owned ports in the San Francisco Bay Area and serves as the City’s international maritime gateway for automobile imports, liquid and dry bulk cargo, and general cargo. As an enterprise department, the Port currently operates independently of the City of Richmond’s (City) General Fund and is fully supported through the Port Enterprise Fund.
Port revenues are derived primarily from terminal real estate leases, local port tariffs, and associated service charges. These revenues support the Port’s operations, maintenance, capital improvement projects, debt service obligations, and administrative functions. All income generated through port activities is deposited into the Port Enterprise Fund and is used exclusively for port-related purposes and expenses.
The primary sources of Port operating revenue are:
Port Tariffs: a formal public document issued by the Port and approved by City Council made up of fees charges, rules, compliance, and regulations. For example, fees are charged to vessels and cargo owners for use of port facilities. Lease Revenues: Rent paid by tenants and terminal operators for long-term use of port property.
Service Charges and Miscellaneous Income: Includes utility reimbursements, security fees, and facility use fees.
The Port’s tariff schedule establishes uniform rates for maritime services consistent with industry practices at other public ports. Key tariff components include:
Dockage: Charges assessed to a vessel for occupying a berth alongside a wharf, pier, or terminal. Dockage is calculated based on the vessel’s length overall (LOA) and the duration of stay, typically measured in 24-hour periods. Wharfage: Fees applied to cargo moving across the Port’s wharves. It is assessed per ton, per vehicle, or per measurement unit depending on the commodity type.
Storage: Charges assessed for cargo or equipment remaining on the Port’s facilities beyond a free-time allowance. Storage fees encourage timely cargo movement and compensate for the use of valuable terminal space.
Tariff-based revenues fluctuate with vessel calls, cargo volumes, and tenant activity.
The Port periodically reviews and updates the tariff to maintain competitiveness and ensure cost recovery.
Port revenues are used to fund operational expenses and to invest in maintenance, capital improvements, repairs, and upgrades to Port facilities. Large infrastructure projects at the Port can be financed through mechanisms such as public-private partnerships, tenant-funded investments, grants, bond funding, and self-funding. The successful Honda Port of Entry project at Point Potrero Marine Terminal (PPMT) and
January 6, 2026
the development of the 200,000-square-foot Portside Commerce Center warehouse at Terminal 3 are examples of tenant-funded investments.
The Port’s financial performance is tied closely to maritime activity levels in the San Francisco Bay Area, global trade trends, and tenant stability. While the Port’s revenues vary from year to year, the Enterprise Fund has maintained a stable operating balance, supporting continued investment in infrastructure, environmental compliance, increased safety, and facility maintenance. This financial stability allows the Port to commence focus on longer-term strategic planning and economic development.
Port staff continue to pursue new tenants and business development opportunities to diversify revenue streams, generate positive economic activity, implement the Green- Blue New Deal and the Green Empowerment Zone, increase the maritime workforce, and ensure long-term sustainability for the Richmond Community and region.
SYNERGISTIC POLICIES:
This report aligns with the City Council’s Priority 2.5: Revitalization of the Port. As an Enterprise Fund, it is important for the Port to share financial data and provide ongoing and transparent updates to the City Council, staff, and the public regarding Port operations, revenue generation, and the Port’s contributions and benefits to the City of Richmond.
DOCUMENTS ATTACHED:
Attachment 1 – Port Enterprise Fund Financial Overview