Hannibal city officials are speaking out about a new docking agreement between the city and American Cruise Lines.
As construction on the new riverfront continues, there’s excitement about the new contract City council approved Tuesday night.
Officials say American Cruise Lines will get rights to the northern docking area of the new riverfront.
The company will pay the city a dollar per passenger per visit starting next year along with a $25,000 capital fee.
“That’s always a great thing is you build something new and to be able to have some revenue coming in that can help offset expenses overtime is great. Not to mention all the money coming in from the tourists who are spending money downtown at the cave and different places so it’s kind of a win win for everyone,” said Hannibal Director of Central Services Andy Dorian.
City officials said the agreement is for 30 years and every five years the fee the cruise line pays will go up %15 until it gets to 2 dollars.