New London, Conn., home to the U.S. Coast Guard Academy, will donate a piece of waterfront property and the state will pledge $20 million toward plans for a new National Coast Guard Museum.

According to a report by The Day, cites a series of letters among the mayor, the Coast Guard and local businesses for attribution.

A new ferry terminal for Cross Sound Ferry and a pedestrian bridge across the railroad tracks connecting Union Station and the museum is also part of the project, which is expected to cost $100 million, according to the report.

The plan and details of the proposal will be revealed in a 10 a.m. reception on April 5 at the Science and Technology Magnet High School in New London.

Click here for the full report and click here for a follow-up report on how the staff of the existing 4,000-square-foot Coast Guard Museum at the Coast Guard Academy are taking stock of the archives they soon may be moving.

Congress passed a bill in 2004 approving the construction of a national Coast Guard museum at or near the Coast Guard Academy, with nearby Fort Trumbull chosen as a preferred location in 2002. The eminent domain battle at the peninsula, as well as difficulties in fundraising during an economic downtown, halted this effort, according to a report by the local Patch news source.