Port Jefferson Village officials are nearing completion of a deal to buy a harborside parking lot and marina from the Town of Brookhaven for $8 million.

The 299-space lot -- which village officials plan to expand by 80 spaces -- will help alleviate parking shortages in Port Jefferson's busy downtown shopping district, Mayor Margot J. Garant said.

Town officials said most of the proceeds from the sale will help to pay down the town's $8.3 million debt to the state pension fund.

The lot overlooks Port Jefferson Harbor and is within walking distance of the Bridgeport-Port Jefferson ferry terminal. Town officials in the past have allowed the village to use it for events such as the annual Charles Dickens Festival, which is held in December.

"This will allow us to better manage the lots so we don't have to go to the town for permission," Garant said. "It's going to be a huge, huge benefit."

The village plans to sell bonds to raise money for the purchase, she said. Garant said the deal won't cost anything for village taxpayers because revenue from parking meters and boat slip fees should be "sufficient to support the debt service."

The village board plans to vote on the deal Monday and the sale should close by spring, Garant said.

Brookhaven Supervisor Edward P. Romaine said Wednesday the town board will vote on the plan after the village board approves the purchase.

"The village has had a long interest in controlling their waterfront," he said.

Village residents could challenge the purchase by petitioning for a permissive referendum, Garant said. Two-thirds of the village's registered voters would have to petition for the referendum, she said.

"So far we're getting a lot of encouragement, a lot of enthusiasm, and people are absolutely thrilled," Garant said.

Garant said the parking lot and marina would not be restricted to village residents.

Town chief of operations Matt Miner said Brookhaven collected about $605,000 in revenue from the lot and marina last year, including $90,000 from daily parking fees. The facility cost the town $590,000 in 2013, including $350,000 for seasonal employees, $200,000 for debt service and $40,000 for utilities and maintenance.

There is an eight- to nine-year waiting list for the marina's 174 recreational boat slips and eight commercial slips, town spokesman Kevin Molloy said.

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