The six-month audit was conducted by the Bureau of State Audits at the request of state Sen. Steve Peace, D-El Cajon. Released yesterday, the audit uncovered millions in lost revenue opportunities and recommended changes to the port policy.

Port officials disagree with some of the findings in the audit but are responding to many of the suggestions. The Port District is supposed to seek market value when leasing property on the bay. Auditors found the port undercharged the San Diego Marriott Hotel and Marina by $3.9 million between October 1996 and December 2001 as part of its 10-year lease.

Marinas on San Diego Bay also are paying below-market rent, costing the port $600,000 over the last two years, according to the audit.