Thursday, October 24, 2013

Wildwood Approves Land Sale, Begins Downtown Revitalization


The City of Wildwood has plans to revitalize the downtown area, in hopes of improving the quality of the shore experience for both local residents and visitors as well as bring increased revenue to the city.

A resolution was passed during the Oct. 23 commission meeting that accepted an $800,000 bid from the Wildwood Business Improvement District Management Group, a nonprofit organization that oversees the Boardwalk and Downtown Business Districts.

The bid was used in order to purchase a parcel of land located at 202 E. Schellenger Ave. The property was sold “as is” along with a deed restriction that considers the property’s primary use will be limited to parking. The passing of this resolution also calls for the transfer of a property located at 3400 Pacific Ave. as dedicated open space/recreational use.
The parcel of land on Schellenger Avenue was previously used as a metered parking lot by the city as well as six local businesses that leased parking spaces in the city.

Commissioner for Revenue and Finance Pete Byron, said the property generated approximately $35,000 in revenue for the city, including $1,000 in meter fees in the past. As owners, the city maintained the property thereby depleting any revenue gained by its rental to local businesses.
The selling of the lot to the city’s coffers will see an immediate infusion of $800,000 including annual tax revenues.

 With the downtown district of Wildwood becoming more developed every day, an increase in local business will lead to increased ratables, and will help offset the tax obligation of local property owners.

“These are huge building blocks into the revitalization of downtown Wildwood, the city’s 2015 Plan and helping to move that plan along,” said Byron. “This is a major start in rebuilding Wildwood’s future.”

According to the commissioner, a long-time advocate of revitalizing the city’s downtown area, steps are being taken in bringing energy back to the heart of the City of Wildwood.

“We’re confident that downtown Wildwood will again become the hub of the city,” Byron said. “We need to plan today for the crowds of tomorrow.”

City commissioners took the first step to bringing life back to the downtown area, and by 2015 are hoping to see drastic results from the work that is currently being put into place.

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