From the Republican Study Committee’s blog:

[Today], the Senate will take up the Water Resources Development Act, or WRDA, which the House passed last month. Should it pass, it will be the most expensive water projects bill that Congress has ever approved.
On Speaker Pelosi’s website, it says the following about WRDA: The Water Resources Development Act of 2007 will provide critical funding to small communities that have gone too long without assistance. To these communities, the projects and studies authorized by this legislation will have equally beneficial impacts on public health, environmental quality, and economic vitality.
The Speaker has her own earmark in the bill (Sec 5054) that provides for the re-development of part of the San Francisco Waterfront. The Speaker, (and/or her husband) collects rent from four separate commercial real estate properties that are very close to the waterfront location that the earmark provides “critical funding” for. According to disclosure forms, these properties resulted in rental income as high as $3 million in 2005 for the Pelosi’s and could stand to benefit from improvement to the local neighborhood that the earmark supposedly provides….