OCEAN CITY — Revised plans for a proposed mixed-use redevelopment project downtown at Somerset Street with a significantly higher price tag was one of the highlights of an initial review the town’s draft capital improvement plan last week.
Last spring, the Ocean City Development Corporation (OCDC) pitched the concept for a pair of projects in the downtown area including a mixed-use facility at Somerset Street for the Ocean City Police Department (OCPD) and a future seasonal housing project on a portion of the model block. The OCDC is a quasi-public organization dedicated improving the downtown area and for years has been acquiring properties when they come available for future redevelopment.
The OCDC initially proposed a mixed-use facility on a parcel it owns on Somerset Street, which would include new storage and space for the OCPD’s bike patrol, public restrooms, an improved bus stop and at least 25 beds of seasonal housing for the OCPD. During last week’s presentation of the draft capital improvement plan (CIP), it was learned the revised plans call for just a single project at Somerset Street that would accomplish much of the anticipated benefits of the proposed two-project concept in a single facility with some alterations.
The initial overall cost estimate for the project was $2.4 million, which would include a $1.4 million contribution from the town and a $1 million contribution from the OCDC through its share of the Inlet parking lot revenue. For years, the OCDC has received a portion of the weekend Inlet lot revenue as a reserve fund of sorts for projects has or intends to develop in the downtown area. The OCDC’s contribution for the proposed Somerset Street project would come from a portion of that Inlet lot fund.
However, the combined and altered project is estimated at around $4.2 million for a variety of ongoing reasons including increased construction and materials costs and supply issues, for example, issues that have plagued several major projects in town in recent months and have led to higher estimates and ultimate costs for most.More
Section 8 by the Democrats !!!!!