In 2010, My little town bought a ice-breaking, fast-ferry landing craft to use between PT. Mac and the Port of Anchorage as part of the Knik Arm Ferry Project. The M/V Susitna cost 80 million.
Great idea, Except, there was no dock facilities at PT. Mac. And no place to park it. So, it was sent to Ward Cove in Ketchikan for safe keeping. My little town was paying moorage fees and some dude to babysit. That cost $100,000 a month.
Then, the February wind & rains came, the plastic buckets covering the exhaust stax blew away. The Dude that was babysitting her didn't take notice, until three of four engines were filled with water. Then, it got towed to Seattle for 3.5 million engine overhauls.
Then, The City of Wasilla sold it to the Philippine Red Cross for 1.75 million.
good times. That's when Alaska was flush with money and our leaders couldn't spend it fast enough.