PORT ANGELES — City Manager Michael Quinn has proposed a funding plan for the $11.5 million International Gateway Transportation Center and related improvements.
Quinn’s plan relies upon deferring two projects totaling $1 million and raising $220,000 a year in city taxes and fees.
That would finance $2.7 million for 20 years at 5.5 percent, he told the City Council late Tuesday evening.
“It’s still a challenge,” Quinn said.
“We need to keep moving forward. We are halfway there.”
The Gateway Center is an ambitious hub for buses, car rentals, underground parking and other transportation services in a beautified area roughly bounded by Front Street and Railroad Avenue at Lincoln Street.
Quinn said he would rather underestimate revenues and find that the city has more money than planned, rather than overestimate revenues and come up short.
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The rest of the story appears in the Thursday Peninsula Daily News Clallam County edition.