WILDWOOD – This city’s coffers grew by more than $85,000 when the first installment of an agreement that will bring approximately $500,000 to Wildwood as part of landfill capping project was received.
In an agreement with the City of Ocean City, Wildwood entered into a contract where it will take dry fill material from a former dredge project and use it as material as residential filling at 26 acre site located on Wildwood’s bayside.
The project calls for Ocean City to pay Wildwood to accept the fill material. According to Mayor Ernie Troiano, the city was approved for 50,000 yards for Phase I, with another 50,000 yards for Phase II.
“We’re going to collect approximately $500,000 for the first go-round with approximately another $500,000 to follow,” said Troiano.
“This is a huge plus for the city,” said Commissioner of Revenue and Finance Pete Byron. “Initially it was going to cost city taxpayers approximately $5 million to cap the site. Now, not only will the site be capped with dredge that has been tested and approved for residential use, the site has become income generating, to the tune of approximately $1 million.”
Both Troiano and Byron said once capped, the future of the acreage is a bright one.
“The City of Wildwood is finally taking these 26 acres of prime real estate that was used as a former landfill site and capping it so that it can possibly be used as high-end bayside housing developments, green space or a marina,” said Troiano.
“Once the capping is completed,” said Byron, “Wildwood taxpayers will see the ratable base grow and value added to our city.”
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