Through a request-for-proposals process, the cost of the dredge was estimated to be $38 million. The proposed funding formula called for a $19 million contribution from the federal government.
Federal funding for this project was not readily available and ECBC had to provide a solid rationale to convince officials in a time of fiscal constraint that this project held significant potential to grow Cape Bretonís economy.
Following confirmation of funding from all parties, ECBC established a project oversight committee to ensure that the dredge project proceeds on time and on budget. ECBC is also engaged with local port stakeholders on the development of a sustainable governance model for the port and will work with the community to market and grow the port.