Meanwhile, the Maritime Administration, which is currently incontrol of the property, is reviewing proposals submitted bydevelopers interested in the shipyard.

"The city of Quincy is eager to get its investment out," QuincyMayor James A. Sheets tells GlobeSt.com. "From the outset we havesupported a plan that benefits secured investors. If the MHI planbenefits them the most, we'll go with that. But if someone elsecomes along with a better plan, we'll support that." The city hasinvested about $7.5 million in the shipyard plan.

Former shipyard owner, Sotirios G. Emmanouil, whose firm hasinvested nearly five years in the $100-million project, headsMHI.

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