Bond Application Resolution On Agenda For Asbury Park's Council

Asbury Park NJ

25 August, 2021

12:56 PM

Description

ASBURY PARK, NJ – The Asbury Park city council will be looking to pass a resolution at Wednesday night's council meeting seeking permission to apply for bond money from infrastructure improvements to the city's waterfront redevelopment area. The council seeks to apply to the Local Finance Board to acquire $1,000,000 in redevelopment area bonds, which would go towards generating new municipal revenues, payments in place of taxes, redevelopment of vacant land into a mixed-use project with 206 residentialrental apartment units, 4,600 square feet of retail, and an enclosed parking garage along with 20 residential rental townhome units with parking and amenities. This resolution and a resolution to declare Madison Marquette in default of its contract are also on the agenda for Wednesday night's council meeting. All city council meetings are held at City Hall and start at 6 p.m.