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The foundation of Chattanoga's downtown waterfront is sinking into the Tennessee River.

In less than a decade, a one-thousand foot portion of the $120-million dollar 21st Century Waterfront has sunk 6 inches into the river.

Reparing the damage will cost taxpayers millions.

A timeline calls for the city council to approve the bid winner this summer.

Construction is expected to begin in November, with a reopening set for May of 2015.

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