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Finance committee recommends committing $6.6 million as local match for ferry float PIDP grant
Summary
The committee recommended a resolution to commit and restrict $6.6 million of matching funds for a PIDP grant application (Southeast Conference applying on DOT's behalf) to replace Skagway's ferry float; staff noted design/construction estimates around $79 million and discussed port-fund pressures.
City Manager Dietz briefed the committee on a proposed ferry float replacement project and said the Southeast Conference is applying for a Port Infrastructure Development Program (PIDP) grant on the Alaska Department of Transportation's behalf.
Dietz cited a high-level design-and-construction estimate near $79,000,000 and said a 20% match would be about $15.8 million; because Skagway manages 5/12 of the float, its estimated share would be roughly $6.6 million. "For what we would get, $6.6 million does not seem like a lot compared to having to pay to replace it fully," Dietz said, calling the project "a good idea."
Dietz also reviewed existing port commitments and reserves, noting a starting port fund balance around $15 million on current projections and a number of other near-term port projects that could pressure reserves in FY29. He recommended continuing to pursue the PIDP grant application while monitoring other capital demands; members discussed possible fee increases for cruise partners over several years to help cover future costs.
Assembly member Deb Potter moved that the finance committee recommend resolution 26XX (draft in the packet) committing and restricting matching funds for the Skagway Ferry Terminal replacement grant application; members voted in favor by voice.
The committee directed staff to bring the draft resolution to the assembly for formal action and to continue coordinating design and financing details with DOT and Southeast Conference.
