The San Diego City Council approved a $28.6 million funding plan that will allow the first phase of a project to improve the North Embarcadero area of San Diego Bay to move forward.

The Council met on February 28, 2011 to hear the item which allows the Redevelopment Agency of the City of San Diego, acting through the Centre City Development Corporation (CCDC), to advance its share of construction costs so that the project can commence as soon as possible.

The first phase of the North Embarcadero Visionary Plan is estimated to cost $28.6 million. It will be shared equally by the Port of San Diego and the Redevelopment Agency of the City of San Diego, acting through CCDC.

"The waterfront of the North Embarcadero area is our front porch," said Councilmember Carl DeMaio. "It is as important economically as the San Diego Convention Center. This project will be our signature and it is long overdue."

Now that the City has approved the funding plan, the next hurdle in the project is gaining the approval of the California Coastal Commission. It is anticipated that the Coastal Commission will vote on the North Embarcadero Visionary Plan's Phase I at it April 13-15 meeting in Santa Barbara, California.