Council delays vote on bond-backed tax incentive for Wildwood town-center apartments

Developers seeking to build a mixed‑use apartment and retail project in Wildwood’s town center asked the City Council on Aug. 11 to accelerate consideration of a Chapter 100 industrial revenue bond and associated tax abatement, but the council stopped short of granting the expedited vote needed to move the incentive forward this month.

The developer team — represented by Tom Keiman of MiaRose Holdings and partners including Greenberg Development and Ed Cohen — told the council the Chapter 100 financing is a necessary piece of the capital stack that would allow the Wildwood Luxury Living project to meet lender thresholds and begin construction this fall. Keiman said the developer has replacement financing from Southern Bank and asked the council for two readings of the ordinance so work could start this year. “We are anxiously looking forward to getting the project started,” Keiman said.

Why it matters: The proposal would put roughly 300 market‑rate apartments and about 7,000 square feet of retail in the heart of Wildwood’s town center, a location city leaders and several council members described as critical for downtown activation. The incentive would reduce taxes on construction materials and property for a limited period to help the developer offset extraordinary site costs developers say make the project infeasible without help. Opponents and several council…