Anchorage Daily News
By: James Brooks
Even if it doesn’t have all the money in hand, the Municipality of Anchorage will begin construction on the first phase of the Port of Alaska replacement project next summer, Municipal Manager Bill Falsey told state lawmakers in a Thursday hearing of the Senate Finance Committee.
That first phase, which involves a new terminal for petroleum and cement deliveries, is estimated to cost about $223 million. According to figures presented to the Legislature by Falsey, the municipality is about $111 million short. The money on hand will cover work through summer 2020. When that money runs out, “we will have the options of how we can raise that cash,” Falsey told lawmakers. “For the remainder of the facilities that live at the Port of Anchorage, that is not a this-year project.”