OCEAN CITY -
The Ocean City council passed a resolution for an unusual proposal this evening.
"It's an eyesore, yup it's an eyesore," said Michael Scioli as he described the abandoned Bay front marina in Ocean City.
"They need to do something with this front end here. It's been vacant for a long time," said Scioli.
And so they did. The Ocean City Council unanimously passed a resolution Thursday to finance a private property project that will build a new marina.
The Gill family, former owners of the property, approached the city about redeveloping the lot.
“Because of situations of the project it's very difficult for them to get private financing,” explained Councilman Mike Allegretto, Ocean City Council Vice President.
The city approved a resolution to redevelop with Bayfront Preservation Foundation, LLC and a bond ordinance authorizing a loan $2.6 million to pay for the purchase and development of the property, and environmental remediation.
“It's going to be a big project, but it's something that will be good for the city,” said Allegretto.
“It's the first thing people see when they come over the bridge,” described Ocean City resident Carla Migliaccio.
The project would include a marina with at least 18 boat slips; a fueling station; a restaurant on the first floor, retail space on the second floor plus adequate parking.
"It's prime property you know and they have a wonderful plan," said Migliaccio.
The project was well received by many, but some expressed concerns.
"We certainly have residents who don't think the government should be involved in loaning money to any private person," said Allegretto.
“I feel it's a necessity for Ocean City. It would help the economy in this south end," expressed Scioli.
“It's going to be an asset to the whole town,” said Migliaccio.
Officials say the developers will repay the advanced taxpayer funds in full, including interest, within 7 years.
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