Spy Report: Cambridge Waterfront Development, Inc Hosts Public Update Session

On the evening of April 18, Cambridge government officials and members of the community gathered at the Chesapeake Intergenerational Center for an update from the board and executive director of Cambridge Waterfront Development, Inc. The purpose of the meeting was for CWDI to address questions, concerns, and accusations they had received lately.

It started with introducing the board members and Executive Director Matt Leonard, and then there was a presentation of the history of the project now known as Cambridge Harbor. After that, Leonard went into an explanation of the development, including its boundaries and elements such as the new boutique hotel, an expansion of Yacht Maintenance Co., and the renovated Richardson Maritime Museum. There was a discussion of the retail and food vendors that would be brought in and also the public areas set aside for the citizens of Cambridge.

Importantly, Leonard talked about why CWDI is not relying on a master developer, explaining that such an entity would want the best part of the property for its own use and convert some of the public spaces into private development. He also went over the sources of the funding CWDI has raised to date and how much money is still needed.

This led to a discussion of the tax increment financing (TIF) that CWDI wants the city and county to take out for the public improvements in Phase One of the project. The audience was assured that CWDI would keep none of the money and that neither the city nor the county would be responsible for the repayment of the loan. Also covered was the fact that CWDI will be supervising the maintenance of Cambridge Harbor indefinitely, something that many community members and officials were unaware of.

After the presentation, Leonard and the board members answered questions that had been sent in by the public. First up was the YMCA, which has expressed interest in having a new facility at Cambridge Harbor. According to CWDI, there are presently no negotiations with YMCA of the Chesapeake. However, they are a leading contender for a spot at the property because, it was claimed, the Y would bring a lot of traffic that would then shop and dine on-site.

Members of the board then insisted that they are open and transparent to the community and government but that their first loyalty is always to CWDI and its mission. They promised that any conflicts of interest are dealt with and that they are not in breach of contract. Attention was given to concerns that Cambridge Harbor will end up underwater, and the board said they are aware of this and are being careful to build far enough inland.

Finally, board member Shay Lewis-Cisco asked for patience from the community as CWDI continues its mission to develop Cambridge Harbor. Their next meeting is May 22.