Marina's future hedges on grant

EAST TOLEDO - The next couple of weeks are very important for the future of Toledo's Marina District.

David Amstutz, the city's development manager says to move forward with the 'park phase' of the project several financial factors have to work out in the

city's favor.

Millions and millions of city dollars have gone into funding for the Marina District on the east side of the Maumee River.

Amstutz though, said there is no more relying on Toledo's cash.

"There will be no more city dollars requested on this or even contingent obligations such as the general obligation bonds," he said. "This will be

monies that will already have been approved like the state infrastructure

bank loan, or monies from Dillin for the purchase of the land."

Amstutz said the city will sell 58 acres of property to developer Larry Dillin for $3.6 million. That money will then be reinvested into the public portion of the project.

The new funding plan for the public part of the Marina District is not supposed to cost the tax payers any more money. That money would be reinvested into the public portion of the project.

"The plan in front of council right now is without question, in my mind, the best plan that we've ever had," Amstutz said.

But there are other financial factors that have to fall into place before the city can begin working on what Amstutz calls unique gathering places and points of interest in the project's 'park phase.'

The city is depending on $5 million grant from the Ohio Cultural facilities commission, Amstutz said. There should be news on the grant after the July 4 holiday.

"It looks pretty good, from the people I have talked to about this," Amstutz said.

Still, Toledo's development manager says it's going to be at least a year before residents see any kind of physical development on the Marina District site.