Newport Beach could phase in plans for a multimillion-dollar park and sailing center on the Balboa Peninsula to lessen the project’s effect on the city’s already strained budget, city officials said Tuesday.
The City Council on Tuesday night approved an environmental-impact report for the park.
Preliminary estimates have put the cost of the park as high as $23 million. The plans could now be realized in three phases, said Dave Webb, deputy director of public works.
“Based on how the economy is, we will move forward,” he said.
City officials project Newport Beach will face an $8-million deficit for the budget year beginning July 1 and a $12-million deficit during the 2011-12 fiscal year. Phasing the Marina Park project would allow the city to spread the cost of the project over multiple budget years.