Crest Salutes Maloy; Passes ’17 Budget

WILDWOOD CREST – The Wildwood Crest Borough Hall was uncharacteristically full for the March 29 Commissioners’ meeting. The borough had scheduled its budget public hearing for that evening, but the crowds came to honor “one of our own,” according to Commissioner Don Cabrera. 
Joe Maloy was being honored by the borough as he announced his retirement from competitive athletics as an Olympic triathlete who represented the United States in Rio de Janeiro last year. 
The 31-year-old local hero was raised in Wildwood Crest. He attended Wildwood Catholic High School and went on to star at Boston College before he became an Olympian.
Maloy’s family and friends packed the small meeting room to hear him thank his parents especially for their support over the years.
2017 Budget
Michael Garcia, of Ford-Scott and Associates, presented Wildwood Crest’s $27.4-million municipal budget. He opened by saying that “the financial health of the borough is stronger than ever.” 
He pointed out that the recent rating agency Moody’s report noted that Wildwood Crest’s financial situation was “robust,” and that their bond rating was a “healthy” AA3. 
The borough carries a “moderate debt burden,” and is well under the mandatory debt cap. 
Garcia added that the state percentage of debt cap is 3.5 percent, while Wildwood Crest remains at a 1.5 percent level.
He stated that there would be a one-cent tax increase in the local tax rate to $.661 per $100 of assessed value from $.651 per $100 of assessed value, that calculates to an additional $10 for every $100,000 of assessed value for property owners.
The budget will require $15.2 million for municipal purposes, $7 million for the school and $4.8 million for county purposes.
He compared the 2017 budget to the 2011 budget and informed everyone that the borough would be spending $2 million more in infrastructure improvements than was spent in 2011; he sees that as a commitment to improving the borough’s infrastructure while also living within its means.
Aid Stricken Family
The community of Wildwood Crest is coming together to help three families who narrowly escaped death in the fire that occurred March 27 when Wildwood Mayor Ernie Troiano Jr. and other rescuers took extraordinary steps to save lives.
The families lost everything in the fire, and various communities in the county are joining to raise money to help the victims with clothing and other necessities.
One source for donations can be found at http://www.lunchwithlynch.com/ where people will be instructed as to how to help.
To contact Jim McCarty, email jmccarty@cmcherald.com.