Last Tuesday, the City of Cambridge send a letter to the Cambridge Waterfront Development, Inc (CDWI) expressing concerns about the direction of the non-profit development group after reviewing their most current report.
The City of Cambridge has recently raised concerns about the CDWI’s Cambridge Harbor’s ambitious plans. In a letter sent to CDWI on October 24, the city expressed its apprehensions about the governance of the CDWI board and the specifics of the plan.
In a Spy/ WHCP Community Radio interview, Cambridge town manager Tom Carroll, outlines those concerns, which revolve around four key points:
First, the city believes that involving a private developer with experience in handling projects of this magnitude and complexity is essential. While the development team may have the desire to undertake the project independently, the city emphasizes the need for external expertise with a proven track record. Developing a project of this scale is multifaceted and prone to costly mistakes, even for skilled developers.
Secondly, the city contends that the proposal presented in the development team’s mid-year report does not generate sufficient economic value. It falls short of meeting the community’s needs for a substantial change in its tax base. Implementing the presented plan would demand an unacceptably large public sector subsidy, which the city and county cannot afford.
The third point of concern is related to the Tax Increment Finance District, a public sector mechanism aimed at making growth financially self-sustaining. The city deems it unacceptably large and ineffective in achieving the necessary public funding for a plan that lacks economic viability.
Lastly, the city calls for increased transparency, information, and accountability in the governance of the CDWI board. As the entity responsible for setting up the organization, the city believes they should have full insight into CDWI’s actions, which they feel has been lacking.
This video is approximately four minutes in length.
Mike Jones says
First, I must say that I am not a Cambridge resident – but I am a Dorchester resident and was born and raised in Dorchester.
Virtually everyone I’ve spoken with in my various circles, seems to be in general agreement with about many aspects of the proposed redevelopment of the old hospital site. They are:
1. The City leadership needs to work cooperatively with the County’s leaders and share their respective inputs, both from city-wide and county-wide perspectives on this incredible undertaking. This is a once-in-a-generation opportunity to create something that projects Cambridge AND Dorchester County as a whole, in a fashion that properly projects Cambridge and Dorchester as the “Heart” of the Chesapeake…… this is too important to the future of the City AND the County. We have a fantastic opportunity to create something that will project Cambridge (and Dorchester) for decades into the future, as “destinations”, rather than just “that town on 50 with all the lights that slow down the OC traffic!”
I applaud the City’s recent comments as expressed to the development group. The numbers have to add up in order for this massive mixed-use development to succeed and continue to flourish. Again, many of my contemporaries feel as I do, that we have one chance to do this the right way. We need to bring consultants onboard who have the knowledge, experience and proven track record to create the showpiece it must become!
One example of a question that everyone that I’ve spoken with is asking:
Why would project planners seriously propose taking up considerable square footage (very valuable space) within the project area, for a non-economic use such a re-located YMCA? I have been a member of the Y off-and-on for many years over the decades. But putting that kind of structure/use in the proposed waterfront development makes absolutely zero sense on a number of different levels.
I’m sure that the City (and County) leaders have only the citizens’ best interests at heart (short-term and long-term)! They deserve our support – including our feedback throughout the process.👍