We never had a town center
Few towns can boast tracts such as RiverWinds in Gloucester County.
Town officials at the turn of the century embarked on the redevelopment of more than 1,100 acres that would make it all possible - a community center, restaurant, senior housing, and a golf course with a sweeping view of Philadelphia. Not bad for a former dredge spoils dump.
"We never had a Main Street, we never had a town center, we never had a central point for everybody to locate," said former West Deptford Mayor David Shields, who championed the project.
More than a decade later, RiverWinds has ostensibly become the town's biggest point of pride - and a major source of financial burden.
When the 18-square-mile town of about 22,000 approved more than $50 million in bonds for RiverWinds in 2000, it had a municipal debt of about $31 million (in 2000 dollars). Today, with other obligations, the overall debt is nearly $150 million.
"Wow," a shocked Gov. Christie responded when told about the debt during a town-hall meeting in 2011. "Really scary."
Last year, the town's high debt service triggered a mandatory state review, which could have resulted in state financial supervision. West Deptford was ordered to report back quarterly.
"We will continue to pay particular attention to West Deptford, more so than other municipalities because of what's going on," Thomas Neff, director of the state Division of Local Government Services, said during a hearing.