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AIDEA Board Approves Loan for Southeast Cruise Ship Facility

May 29, 2019 | Construction, Featured, Finance, News, Tourism, Transportation

Development project financing provided for Icy Strait Point expansion

Officials from Icy Strait Point, Huna Totem Corporation, and Norwegian Cruise Line at groundbreaking in May 2019.

AIDEA

ANCHORAGE–The Alaska Industrial Development and Export Authority (AIDEA) Board unanimously approved a resolution that authorizes AIDEA to provide a loan of up to $15 million to Duck Point Development II LLC, a wholly-owned subsidiary of Huna Totem Corporation (HTC), to expand cruise ship facilities at Icy Strait Point (ISP) as part of a long-term partnership with Norwegian Cruise Line to develop a second cruise ship pier at ISP.

“We are pleased to move forward in support of this continued development of Icy Strait Point cruise ship facilities,” said AIDEA Chief Investment Officer Alan Weitzner. “AIDEA’s participation in this project with HTC and the City of Hoonah creates job opportunities and helps advance the region’s economy in a very significant way.”

The project, Phase 2, includes a new 500-foot floating dock to be constructed and located approximately one-half mile north of the existing ISP dock. Development to support the new dock includes a 3,500 square foot welcome center; a 600 square foot tour sales booth with a covered waiting area; two 1,600 square foot tour assembly buildings; and a tram and bus loop.

The new dock and uplands development will create forty-five construction jobs. The expansion of this cruise ship facility is planned to create 60 new jobs at ISP, increasing employment to approximately 220 positions in 2020.

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