The grant from the U.S. Department of Transportation’s Maritime Administration will go toward the Don Young Port of Alaska’s massive modernization project.
Published: 1 minute agoThe Don Young Port of Alaska has secured afederal grant from the U.S. Department of Transportation’s Maritime Administration for the port’s ongoing modernization program.
While this latest federal grant is small in comparison to the project’s price tag, it represents the third-largest port infrastructure grant awarded nationwide this year by the Maritime Administration, said Bill Falsey, LaFrance’s chief administrative officer.awarded to the city in 2022To date, the port has secured more than $500 million in federal and state grants to help pay for the project, Falsey said.
Falsey said the city aims to keep surcharges as low as possible and to use the “cheapest source of funds first.” It will soon make public a revised and expanded plan of finance, he said. The port can no longer handle the same operational load levels that it did when it was built in 1961, Ribuffo said.
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