News Flash

Wildwood News & Notices

Posted on: March 18, 2018

WILDWOOD DID NOT PAY $1.5M TO A DEVELOPER – THE FACTS:

Wildwood

False claims are being made as to the funding of street improvements associated with the Main Street Crossing development in our Town Center.  This harms the reputation of our City and deceives our residents.

·        The development was approved on the condition that the developer construct Main Street, from Eatherton Road to Route 109, at a total estimated cost of $1,500,000.  All of this expense is being paid by the developer, not the city of Wildwood.

·        Included in this cost was a street segment abutting the development, which cost approximately $450,000.  A map showing this segment is provided below.

·        All developments approved by the City include a Traffic Generation Assessment (TGA), which is used by the City to construct future off-site traffic improvements.  If a developer advances those costs, that cost is credited against the required TGA Fee (because the City would likely decide to construct the improvements in any event).

·        The City granted a credit against the TGA to the developer for up to $450,000 because the developer advanced the cost of constructing the abutting street segment.

By advancing the construction of the adjoining street segment, traffic flow and safety will be improved for our residents.

If you have any questions regarding this matter, please contact Wildwood City Hall, at (636) 458-0440.

Main Street Crossing Map



 

Link to the Approved Bill
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