PORTLAND, Maine (NEWS CENTER) -- A city council committee has approved a lease agreement for ferry service between Portland and Yarmouth, Nova Scotia.
The agreement could generate as much as $400 thousand a year in revenue for the city. That includes a guarantee of $19,200 a year for use of a building next to the Ocean Gateway Terminal. The rest would depend on ticket sales.
City officials are just as excited about the economic boost ferry service would bring to the Old Port. Economic Development Director Greg Mitchell says it would extend the cruise ship season beyond September and October.
"The ferry service season is from May 1st to October 31st, with their peak season in July and August," Mitchell said. "So this is going to create a balance of activity in Portland, the Old Port, that I think kind of evens out the traffic."
The full city council will vote on the lease agreement on April 7th.