The Wildwood Business Improvement District purchased a downtown parking lot on Schellenger Avenue for the minimum bid at auction on Thursday. The B.I.D. purchased the lot for $800,000 and was the only group to make an offer. The Wildwood Leader reports that the business group paid $80,000 up front, and is borrowing the remainder through a loan from Crest Savings Bank. Some of the B.I.D.’s members had rented space on the lot, which has an assessed value of $3 million. The 2.2 acre lot is deed restricted to be used only for parking.
