One very important thing missed in the presentations and reports about the projected
$228 million Port of Richmond repair is that up to $46 million of the projected $228 million could be paid for with Historic Tax Credits. Previous city Councils had the foresight to participate in the creation of the Rosie the Riveter WWII Home Front National
Historical Park in Richmond, which includes the entirety of the historic Shipyard 3, now known as Point Potrero Marine Terminal (PPMT). The City Council also initiated listing on the National Register of Historic Places and designation as a California Historic
Landmark.
Rehabilitation of properties on the National Register of Historic Places are
eligible for 20% tax credits. While the City of Richmond cannot directly use tax credits, they can be sold to investors at a modest discount. As an example, the rehabilitation of the Richmond Maritime Child Care Center, owned by the nonprofit Rosie the Riveter
Trust, was largely funded with tax credits, both Historic Tax Credits and New Markets tax Credits. Unfortunately, and unlike the Maritime Center, PPMT is not located in a “distressed community” census tract, although the Port infrastructure on the east side
of the Santa Fe channel is.
The State of California also has a 25% tax credit that could fund additional
millions of dollars.
Listing on the National Register and the fact that it is in a national park,
would qualify repairs to PPMT for a number of other grants, potentially worth millions, related to historic preservation. For example, the feasibility study for rehabilitation of the Riggers Loft was funded by a Save America’s Treasures grant.
Figure 1 – map of "distressed community" census tracts in Richmond
Incidentally, ports in general, and the Port of Richmond in particular, are not
“economic engines,” in the sense that they produce substantial revenue for the agencies that own them. The port of Richmond is currently running a $7 million annual deficit. They are, however, economic engines in the sense that they create regional jobs and
are indispensable for supporting regional manufacturing and agriculture. The port business is very competitive, and that keeps revenue modest, compared to alternate land uses. Because PPMT is designated as “Port Priority” in the San Francisco Bay Plan, any
permanent infrastructure is limited to port uses.
Costly repairs could make an East Bay port an ‘economic engine’
Report says as much as $230 million will be needed to fix Richmond terminal
By Sierra
Lopez | slopez@bayareanewsgroup.com | Bay Area News Group
UPDATED: October 23, 2025 at 4:31 AM PDT
RICHMOND — Nearly $230 million is needed to repair a segment of Richmond’s crumbling port and turn it into an “economic engine” for the city,
according to a new infrastructure assessment.
Failing beams, missing and damaged timber, sagging slabs and gaping holes in pavement have all been identified at the Point Potrero Marine
Terminal, one of five city-owned terminals located along the San Francisco Bay.
Repairing that damage is estimated to cost $228 million over a period of 10 years, according to an assessment by infrastructure advisory firm
Moffatt & Nichol. The repairs are broken down into 11 projects with different levels of urgency.
The study, presented to the City Council on Tuesday, is a “building block” toward completing a specific plan for the port that would envision
a stronger maritime industry in Richmond.
“The port can be an economic engine for the city but we need to have that plan so we can start really getting into implementing that plan,
so we can start having the revenue we can get for having such an asset like the port,” said Councilmember Claudia Jimenez.
Much of the current port infrastructure dates back to the 1940s when Henry J. Kaiser built four shipyards that “became the most significant
shipbuilding operation on the West Coast,” according to the National Park Service. The shipyards were a boon for the city, which saw a massive population growth driven by people looking for work during World War II.
Currently, port operations bring in about $13 million in revenue, mainly through property leases, that goes back into supporting port operations,
including employee salaries, capital repairs and other costs, Port Director Charles Gerard said. Business activity at the port contributes to the city’s budget and economy through the tax revenue that’s collected and job creation, he said.
Business is good and well-managed for a port its size, Gerard said. Nearly all marine facilities are leased out and opportunities to find new
tenants come as those contracts expire, he said. But Gerard also sees a strong possibility for growth, suggesting port revenue could feasibly double within a five-year period.
“Our objective is really to build out and refurbish the port for the next 50 years,” Gerard said. “What’s been lacking over the last several
decades is a routine and planned maintenance program and so we’re in some respects in catch-up mode. But now we know and understand the infrastructure better than we did.”
Few major renovations have been made to the port since World War II, limiting the types of business operations that can be staged there. Improvements
made in 2009 enabled Auto Warehousing Company to import and store Japanese and Korean cars.
The 11 projects called out in the assessment would increase the port’s capacity to handle heavier types of cargo like farm and construction
equipment, which could mean greater tax revenue for the city, Gerard said.
“There’s a lot of potential options and that’s part of the work to be done in the coming years, is to identify the best and highest use for
this infrastructure,” said Moffatt & Nichol Vice President and project manager Matt Trowbridge.
Critical repairs to some beams that support surface pavement need to be made immediately, according to the assessment. The firm also recommended
access to the whirley crane near the Riggers Loft building and Red Oak Victory Ship be immediately restricted until safety hazards from corrosion can be mitigated or the crane is removed.
Funding the projects will require “thoughtful and strategic” planning, City Manager Shasa Curl said. Some of that funding will likely come
from lease revenue bonds, Curl said.
Gerard said he and his team also plan to seek out federal and state grants, though he notes they’re highly competitive. The port was awarded
a $750,000 state grant in March to develop a conceptual design and conduct preliminary engineering for an offshore wind terminal, but the Trump administration has stalled federal funding for offshore wind projects.
Curl acknowledged concerns that government funding for port repairs may be limited while also lauding staff for aggressively pursuing grant
funding.
“We really can’t trust anything right now,” Curl said. “But I think it’s widely recognized that ports are really the backbone of the economy
and they’re extremely important.”
Originally Published: October 23, 2025 at 4:30 AM PDT
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