Port of Pensacola seeks $53 million from Triumph Gulf Coast to upgrade and redevelop port
Pensacola is seeking $53 million from Triumph Gulf Coast to make the Port of Pensacola Vision Plan a reality.
Port Director Clark Merritt told the City Council on Monday that the city submitted a pre-application to Triumph Gulf Coast, the organization set up by the state to award BP oil spill settlement funds to economic development projects in the eight counties impacted by the spill.
The application calls for upgrading and improving the port's infrastructure such as ship berths, roads and cargo facilities, as well as moving the port's security perimeter to allow for the redevelopment of the northern section of the port.
"None of this is etched in stone," Merritt said while showing a potential layout of what the port would look like under the proposal. "... But this is laid out in a logical manner that would help the port and future development of some sort of mixed-use, no residential, but mixed-use retail, research and development."
Blue Origin departs: Blue Origin ship Jacklyn departs Pensacola port, likely heading to scrapyard in Texas
Facing eviction: Streamline Boats facing eviction in Hialeah. Pensacola factory in doubt after owner change
The proposal follows the contours of the 2019 Vision Plan, for which the city paid the infrastructure firm Moffat and Nichol $100,000 to draft using citizen input on what the future of the port should look like.
Merritt called the proposal an update of that plan, dubbing it a "2022 Vision."
The proposal calls for the construction of a new building that could be used by organizations like the New York Yacht Club's American Magic sailing team, aquaculture businesses like Pensacola Bay Oyster Co., research and development firms, and even an event venue and maritime "makerspace" for the fabrication of specialized components.
"What the Triumph request does is lay the groundwork for that," Merritt said. "It sets this up, infrastructure-wise, to where we can accomplish these goals, per the 2019 plan and from the maturation of this 2022 vision."
The pre-application calls for three elements — improving the port's maritime operations infrastructure, the construction a "Maritime Center of Excellence and Light Manufacturing" center and infrastructure improvements to the roads and rail line connecting the port.
Merritt said the overall project costs about $153 million.
Triumph Gulf Coast's board has tended to favor projects with significant support from other agencies or private companies.
The city's pre-application lists $38.5 million in public funds already committed to upgrades at the port and $56 million in investment from private companies.
The city lists the Florida Department of Transportation, the Florida Seaport Transportation and Economic Development Council, the Federal Emergency Management Agency, CEMEX, Offshore Inland Marine, Streamline Boats of Northwest Florida, and American Magic/U.S. Sailing as co-applicants or partners on the project.
Merritt told the council the largest private investment is coming from CEMEX.
He said CEMEX is willing to commit between $30 million and $35 million in capital improvements to its facility to import cement from Central and South America. The company already invested $8 million in its operations at the port when the City Council approved a new 10-year lease for the company in 2020.
"That is significant," Merritt said. "That will give us the ability to show that to Triumph and to allow their percentage participation to kind of reach within that threshold that they typically like to work toward."
Merritt said the Port of Pensacola has seen a 68% increase in vessel traffic and a 150% increase in the amount of cargo moving through the port in the last three years.
"This is this is a great plan, we think, and we're ready to execute it," Merritt said.
Jim Little can be reached at jwlittle@pnj.com and 850-208-9827.
This article originally appeared on Pensacola News Journal: Pensacola seeking $53 million to upgrade and redevelop port
