LYNN – Progress remains right on track to transform a section of Blossom Street Extension into the new home of a commuter ferryboat to shuttle passengers to and from Boston, according to Economic Development & Industrial Corporation Executive Director James Cowdell.Now that a defunct bait shop on the site was razed in June, Cowdell said a contractor would be awarded the bid to complete the first phase of the project next week. The first phase will include re-paving the entire parking lot, installing a drainage system and constructing a new boat ramp. The work is scheduled to start the first week of November, break for the winter months and conclude in the spring of 2009.”A lot of people submitted bids for the project, so that just shows a sign of the times,” he said.In December, the Seaport Advisory Council approved $750,000 in funding to cover the first phase of the project.Cowdell said he plans to ask for $1.3 million in funding from the Seaport Advisory Council for the second phase of the project, which includes bulkhead work.Funding for the second phase of the project will be discussed during the next Seaport Advisory Council meeting, but the exact date has not been nailed down yet.”We’re not sure yet if the meeting will take place in December or March, but either way we are on the schedule,” he said. “The money we’re applying for is in a seaport bond, so with all of the financial problems going on, the money is safe.”The total cost of the project is $3.1 million and would ultimately create a pier large enough to hold three vessels and a commuter ferryboat ramp for easy access.The city will apply for funding for the third phase next year, which would include the construction of the pier and obtaining a ferry. Ferry service is expected to begin in 2010.In June, Lt. Governor Tim Murray toured the site and said the project would create new economic benefits and endless possibilities for the city.”This is a step in the right direction,” Cowdell said. “We’re moving forward and we’re happy about that.”