Don Young Port of Alaska in Anchorage
Don Young Port of Alaska in Anchorage

Small capital budget keeps $32.5M for LIO purchase, no mega-projects or port

Published: April 13, 2016

KSKA - Anchorage
By: Zachariah Hughes

The Senate Finance Committee has released its first version of the capital budget, which tracks closely to the governor’s version with a few notable exceptions.

Silt build up around the pilings at the Port of Anchorage. Photo courtesy of Jim Jager, Port of Anchorage.

The total amount of unrestricted general fund spending is $79.7, according to a staffer for Sen. Anna McKinnon, R-Eagle River, who co-chairs the finance committee. That figure pales in comparison to capital spending under the Parnell administration, when high oil prices pushed the capital budget as high as $2.1 billion.

One departure from the Governor’s plan, is $32.5 million dollars set aside for the purchase of the Legislative Information Office in downtown Anchorage. Developer Mark Pfeffer said he is willing to sell at that price, even though it means a $4.5 million dollar loss for the property’s owners.

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