Two nonprofits, the Catholic church, a development company and a casino are all coming together to refurbish a former school in Atlantic City. It might sound like an odd alliance but transforming the former St Michael’s school into a useable space almost three decades after it closed is turning out to be a little tougher than expected.
A report by Pew Charitable Trusts has faulted the tax incentives doled out to New Jersey projects, such as the over $1 billion that has gone to Camden development projects and the millions of dollars used to fund Stockton’s Atlantic City campus, the Courier Post reports. New Jersey’s tax incentive program is classified as ‘trailing’ the leading programs in other states in part because it has not program to regularly evaluate the tax incentives. The state’s Economic Development Authority said the report incorrectly characterizes its programs, which are evaluated. You can read the Pew report here. You might also be interested in the State Auditor’s report from earlier this year into selected incentive programs, which also found some flaws with the Camden projects.
Stockton University is seeking a coffee shop to occupy a boardwalk-fronting retail space in its planned $100-million-dollar student-residence building in Atlantic City, according to a document published on Friday. The University’s request-for-qualifications (RFQ) is the most recent step in the realization of a total $200 million project that is set to bring massive change to the southern end of the city within a couple of years. Prospective tenants must be regional or national brands, with at least five years’ business experience, according to the document (here). The coffee shop will be permitted to sell food that requires ‘limited cooking’ – since the University will be looking for a restaurant operator to move into a larger retail space in the same building. The coffee shop is one of three total retail spaces in the residence building, which is set to become home to 533 students in August 2018.