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Engineer: Wildwood Crest eligible for I‑Bank principal forgiveness; Denver Avenue reconstruction grant noted
Summary
The borough engineer reported progress on the Bayside bulkhead project, said the borough is through step three of the FY26 New Jersey I‑Bank application and—per a CFO correction—eligible for $3 million in principal forgiveness to support Park Boulevard work (project estimate about $6 million); a state grant for Denver Avenue reconstruction was also reported but the transcript contains inconsistent amounts for that award.
The municipal engineer reported progress on several capital projects and outlined near‑term funding opportunities for Wildwood Crest.
Engineers’ update: Mark said the contractor has installed approximately half of the storm outfall valves for the Bayside bulkhead replacement and that the two remaining bulkhead replacements are nearing completion. He reported the contractor on the New Jersey I‑Bank sanitary sewer and roadway project is working between Stockton Road and Bay View Drive and that efforts there had picked up pace.
Grant and I‑Bank update: Mark said the borough had been notified of a New Jersey Department of Transportation grant for reconstruction of Denver Avenue (between Bayview and New Jersey avenues). The transcript records the grant amount inconsistently (one reading appears as $1,116,187 and a later clarification in the record is ambiguous); the exact amount is not clearly stated on the record. On the I‑Bank FY26 application, Mark said the borough has progressed through step three and, as corrected by the CFO during the meeting, is eligible for $3 million in principal forgiveness; the full Park Boulevard project between Ramler and Cresie was described as having an estimated cost of about $6 million. Mark explained that to receive the I‑Bank funds the borough would need to move quickly into design and award a contract by June 30, 2026; options include pursuing the full project or completing work in phases to match available principal forgiveness.
Why it matters: Securing principal forgiveness or grant funds would lower the local cost of major road and sewer work, affecting residents along Park Boulevard, Denver Avenue and adjacent neighborhoods.
What’s next: Staff said they will proceed with design if the borough chooses to pursue the I‑Bank funding, with required procurement and contract award timelines to meet the June 30, 2026 deadline.
