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Bremerton City Council seeks bond, grant turned down by port
The Bremerton City Council will consider a measure April 21 to issue up to $7.9 million in bonds next week to help pay for the Park Avenue Plaza project and Lions Park improvements.
The Park Avenue Plaza project will include a city-owned garage, office and retail space and a movie theater on the intersection of Park Avenue and Burwell Street.
The Lions Park redevelopment would use $300,000 of the bond money. That project which includes the removal of the waterfront parking lot and a facelift of its shoreline, has been underway since March and is expected to be complete next year.
The ultimate amount of the bond will depend on whether the city can receive the $2.5 million in Economic Development Administration money that the Port of Bremerton returned last month, said Finance Director Barbara Stephenson. First, the city will issue a bond for about $5 million in May.
The second bond will be issued later in the year to make up the difference if the city doesn’t receive the grant.