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Monday, August 10, 2015

ACIA Awards $250,000 to Fund Six Municipal Redevelopment Projects

The Atlantic County Improvement Authority (ACIA) has awarded $250,000 for six redevelopment projects in six different Atlantic County municipalities.

“Atlantic County is taking the initiative to promote redevelopment since we cannot rely on the State to do so,” said County Executive Dennis Levinson.

And according to the ACIA there are ample opportunities for redevelopment in Atlantic County that can help transform underutilized and distressed areas into economically viable and productive assets.

“Redevelopment creates jobs, generates ratables, improves infrastructure and eliminates blight,” Levinson stated. “These are just the type of projects that can serve to jump start economic recovery within our communities.”

The ACIA funding will help each of the six municipalities to advance its designated project with the assistance of professional consultants as needed, including legal counsel, financial advisors, and land-use planners and engineers.

The redevelopment projects include:
1. Absecon - revitalization of 200+ acres with access to and enjoyment of Absecon Creek and surrounding tidal marsh areas
2. Egg Harbor City - rehabilitation of 96.7 acres known as the Tower Site for possible residential and student housing use among others
3. Hamilton Township - restoration of American Legion building in Mays Landing for residential or commercial use (professional building, restaurant, etc.)
4. Northfield - recommendation for creation of a Special Improvement District to encourage private investment in commercial properties
5. Pleasantville - mixed-use project for Lakes Bay area (residential housing, restaurant)
6. Port Republic - commercial improvements to properties in the vicinity of Chestnut Neck and Clarks Landing Road

The ACIA will now establish a pool of professionals to participate in the program. It will then solicit quotes for each project from the pool from which it may enter into contract for specific services.

“We look forward to working with these towns to promote redevelopment with the use of proven strategies and experienced professionals,” stated John Lamey, ACIA Executive Director.

For more information, please contact the ACIA at (609) 343-2390.

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