PORTLAND (AP) – The Portland City Council will give a final vote next Monday on a plan for a private company to redevelop the Maine State Pier.
If it gets the green light, The Olympia Cos. of Portland will break ground in 2011 on a project featuring retail shops, a park, a hotel and offices. But Olympia will not be required to build a so-called megaberth to accommodate large cruise ships.
Special counsel James Broder, a Portland-based lawyer, says both sides will have two to three months to reach a final agreement if the City Council gives its approval. Broder says the project would generate between $900,000 and $1.2 million a year in property tax revenue for the city.
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