 It was developed by the Mississippi Aerial River Transit-Perez Inc., or MART-Perez, which included noted local architect August Perez III.In 1983, the "Banque de l'union européenne" of Paris provided financing for the project through an $8 million loan.In foreshadowing the future problems the gondola would face, on its maiden crossing, after being blessed by Archbishop Philip Hannan, the ride would temporarily stall.