PENSACOLA, FL - With world financial markets on ice until the congress acts... We wanted to know how local governments are managing.

Today we take a look at Pensacola's Maritime Park.

Channel Three's Dan Thomas joins now on the property...

What's the future looking like for the park.

In the immediate future we can expect the weeds to keep growing out here... And the weeds could continue to grow... If the bailout doesn't work.

Frank Patti says his business has been good despite the economic situation.

Frank Patti/Owner Joe Patti Seafood: "We're very fortunate. People got to eat."

But he is looking forward to the Maritime Park getting built.

Frank Patti/Owner Joe Patti Seafood: "It will generate revenue for the city. Joe Patti will definitely benefit somewhat from it."

But others feel the shaky worldwide financial markets should slow down or even stop the project.

Tom Neet/Against Maritime Park: "Look at the banks that are failing now you know. We're going to bail out all the banks now. It's going to cost the taxpayer in the long run."

JoAnn Lasota/Against Maritime Park: "I just don't think that's the place for it and there's too many needs in this town besides that."

Mayor John Fogg says the city has every intention of moving forward and says the city could get a loan despite the current economic crisis.

John Fogg/Pensacola Mayor: "Right now if we were to go to the market with a 30 year fixed rate bond we believe it would be sold at a very good rate."

But city will not be borrowing the money right now... They're waiting for the environmental clean-up permits to be issued... That's expected to take until January at the earliest.

Fogg hopes by then the action congress is taking this week, will have worked.

John Fogg/Pensacola Mayor: "Barring a real calamity nation wide, even world-wide, then I'm very comfortable that yes we are going to go forward with the construction of the maritime Park."

Frank Patti/Owner Joe Patti Seafood: "I think there's enough money to pay for it and I think if we're going to do it, stop talking about it and do it."

The city could get some help from their neighbors across the bay... Even if the market does not stabilize.

The city of Gulf Breeze has a loan pool with plenty of cash on hand to help out at a reasonable rate of interest.

The only problem with that is the pool closes for business in 9 years... The city was hoping to pay off the park over 30 years.
Maritime Park Bonds