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Ridgetop reports $600,000 LWCF grant toward Wilson Webb Park purchase; city would need about $600,000 more
Summary
Mayor Tim Shaw told the Board of Aldermen the city has received a $600,000 Land and Water Conservation Fund grant for the Wilson Webb property; with a reported purchase price of $1.2 million the city would need roughly $600,000 in matching funds and discussed financing options at the Jan. 20 meeting.
Mayor Tim Shaw told the Ridgetop Mayor and Board of Aldermen on Jan. 20 that the city has received a $600,000 Land and Water Conservation Fund (LWCF) grant toward acquiring the Wilson Webb property.
Shaw said the seller’s stated purchase price is $1.2 million and that the grant covers half; the city would therefore need approximately $600,000 in matching funds. He added that the property’s value was reported to be “about $1.4 million.”
The council discussed options for covering the city share, including financing. Alderman Gregory said he had been told the city could take a mortgage on the $600,000 balance; Alderman Senft asked about property valuation. The board directed staff to obtain additional grant information and return the matter for future consideration.
There was no vote to purchase the property at the meeting. Mayor Shaw framed the item as an informational update and an invitation to continue exploring financing and grant details before any formal acquisition decision.
The Wilson Webb property and the LWCF grant were discussed during the meeting’s new-business presentation; the board requested more documentation before any purchase authorization.
