The musical will be presented March 14 (one day earlier than the official opening of the $65 million Broadway production, Spider-Man Turn Off the Dark) at the The People’s Improv Theatre.

In a statement Moran said, "How important is $65 Million in making good theatre? We’re going to develop a story, write a complete musical score and script, design sets and costumes, cast, rehearse, advertise and ultimately mount the production on March 14th."

Moran is collaborating with writer Jon Roufaeal on the story and book, based on the original story from "The Amazing Spiderman" comic books, and has brought on composers Adam Podd and Doug Katsaros to write and arrange the score.

"Our goal isn’t to tear down Julie Taymor or parody her production," Moran told the New York Times. "Our goal is to do what she should have done in the first place, and that’s just make a really good musical."

Moran has launched a blog (thespideyproject.blogspot.com) and YouTube page to promote the project and to enlist a troupe of volunteer writers, designers and actors.

For more information visit http://thespideyproject.blogspot.com.

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Julie Taymor's Spider-Man Turn Off the Dark is currently scheduled to open at the Foxwoods Theatre March 15.