ATTLEBORO - Mayor Kevin Dumas says he is ready to take control of downtown revitalization efforts from the Attleboro Redevelopment Authority if that's what's needed to save the project.

Dumas said he doesn't want to wrest control from the ARA, but he and his administration will "do what we have to do."

The effort would create a substantial burden because the administration's takeover of the debt-ridden industrial park project from the ARA last summer already chews up 75 percent of the city hall workday, the mayor said, forcing long hours on a number of administrators, including himself.

"It's a Herculean task," he told the city council Tuesday. "I certainly don't want another project in my hands, but you have my commitment we will do what we have to do."

Last week, Dumas blasted the funding scheme for the downtown project, saying the ARA has failed to get financial commitments from key government agencies, leaving the $15 million first phase of the project $5 million in the red. ARA members and administration officials are working to resolve that problem.

While Dumas said he doesn't want to take on responsibility for downtown, he believes the project is in dire straits.

"We've heard from the ARA that things are fine with downtown, but things are not fine with downtown," he said.

The ARA does not have crucial commitments from the MBTA and state's Executive Office of Transportation for funding, he said.

If the city intervenes, staff will be needed, Dumas said.

The mayor said hiring an economic development director would be key, and the job would be funded by grants.

"I really believe that's the next step," Dumas said.

Meanwhile, councilors praised Dumas, saying his takeover of the industrial business park project enabled it to avert foreclosure and gain a toehold on financial stability.

A deal worked out by Dumas and the city's Director of Budget and Administration Barry LaCasse to bring a Rhode Island seafood company to the industrial business park is the single biggest step forward in recent months, and is expected to funnel $300,000 into the project.

That is expected to help the project start clawing its way out of a massive $3 million to $4 million debt. LaCasse said the deal is expected to close in December.

About $90,000 of the $300,000 will be held in escrow to pay a year's worth of interest on an ARA bank loan.

The city will get at least $15,000 as a first payment on the $101,000 it loaned to the project. The city loan freed up part of a $600,000 federal grant, which in turn was used to pay off construction costs.

A $118,000 loan from the water department freed up additional grant money to build a key water main.

The remainder of the $300,000 will be divided by two former landowners who went to court seeking and winning higher payments from the ARA for their property that became part of the park.

All told, about $1.3 million is owed to the former landowners.