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Committee forwards $34.7M appropriation and $25.3M bond authorization for Pier 27 Phase 2 and Northern Waterfront repairs
Summary
Port staff asked the committee to forward a $34.7 million appropriation and authorization to issue up to $25.3 million in port revenue bonds to complete Phase 2 of the Pier 27 cruise terminal and repair historic northern waterfront piers; the budget analyst found the requests reasonable and estimated annual debt service at about $1.46 million.
Port staff presented Items 5 and 6, asking the committee to forward a financing package to support Phase 2 of the James R. Herman Cruise Terminal at Pier 27 and Northern Waterfront historic pier repairs.
Elaine Forbes said the Port completed Phase 1 and seeks financing to complete maritime improvements, park and plaza elements and…
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