Glad you asked that. What is happening is that the bank that owns the pier is putting it up for auction sometime around the end of March. I think the towns intention is to be a player in that auction and they are looking at funds to go and get it. They are looking at funding from a number of sources and they started this trust fund way back in December but failed to let anyone know about it.
The town wants to buy it but lease it to private individuals to operate it. They have no intention in getting in the pier business. I think this could be an important model or example to save other quasi-public access sources for coastal area.