Business plan for Bar Harbor ferry terminal presented to residents

Posted by on May 15, 2018 in Local News | Comments Off on Business plan for Bar Harbor ferry terminal presented to residents

BAR HARBOR, Maine (WABI) – Property consultants met with citizens in Bar Harbor to discuss potentially buying the former Cat Gerry Terminal.

A business plan was presented at the special meeting Monday, which was held by the town council.

Following the presentation, members of the public were allowed to comment.

Some residents believe the property could bring in money, while others are concerned the facility could be used for large cruise ships.

“We were hired to conduct a financial analysis for the business plan for the ferry property and what that entails is looking at potential future scenarios and different uses at the ferry property and what we found is that the different uses resulted in different financial results,” said Michael Vanderbeek of Bermello Ajamil Partners. “Really what we’re here to do is present information to the public to help the town make a more informed decision about the future of the ferry property.”

Purchasing the property would cost the town three and a half million dollars.

Article source: http://www.wabi.tv/content/news/Business-plan-for-Bar-Harbor-ferry-terminal-presented-to-residents-482613641.html