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July 13, 2025

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2 News Homepage News News Portal Highlights

City of Cambridge to Waterfront’s CDWI: Are We on the Same Page?

October 30, 2023 by Spy & WHCP Community Radio
2 Comments

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.

The Spy Newspapers may periodically employ the assistance of artificial intelligence (AI) to enhance the clarity and accuracy of our content.

Filed Under: 2 News Homepage, News Portal Highlights

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Letters to Editor

  1. John Michael Jones says

    November 25, 2023 at 10:06 am

    Gratifying to see that the City’s leadership seems to be taking a more proactive approach to the proposed development – a project the success of which will have tremendous impacts on Cambridge – and Dorchester County for decades to come.

    It is essential that we plan and build this project in a well-conceived and we’ll thought out way.

    I have seen no further comments in the media since those from the mayor (now a month ago) and am hopeful that more information is forthcoming, regarding the issues discussed in his video.

    Reply

Trackbacks

  1. Mayor Steve Rideout on Year One and City-CWDI Status Report - Cambridge Spy says:
    November 15, 2023 at 10:42 am

    […] between the City Council and the Cambridge Waterfront Development Inc. after the council sent a letter of concern to the CWDI last […]

    Reply

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