Emailed Press Release
Hammonton,
NJ – Two Western Atlantic County Towns took formal action to block the
$200 Million Atlantic City Gateway
Project, which will include the relocation of the South Jersey Gas
Corporate Headquarters from the Folsom/Hammonton area to Atlantic City.
At a special public meeting held on Thursday, March 3rd,
Hammonton and Folsom Mayors and Town Councils met
in an unprecedented joint session of both governing bodies, held at
Hammonton Town Hall. The two towns were joined by the Mayor and several
council members of Buena Vista Township, along with more than 75 members
of the public. Hammonton and Folsom officially
voted to request that Atlantic County performs a forensic audit of the
developers of the Atlantic City Gateway Project before a final vote on
the County Government loan guarantees for its financing.
The
project is being coordinated by Atlantic City Development Corporation
(ACDevCo) and will include at least $50
Million in Atlantic County Government loan guarantees, a $17 Million
Casino Reinvestment Development Authority grant and millions of dollars
in CRDA loans, along with $12 Million in tax credits from the State of
New Jersey given to South Jersey Gas Company.
Hammonton
Deputy Mayor Tom Gribbin introduced a motion, which passed with
overwhelming support from Hammonton and
Folsom, “We as Western Atlantic County Municipal Leaders are calling
for Atlantic County to conduct a forensic audit of the finances of
ACDevCo prior to voting on the bond guarantees for this project. In
light of the startling new information about ACDevCo’s
sister company’s project being $7 million in arrears in a loan to CRDA
and Middlesex County, we are demanding that our Atlantic County
Freeholders and County Executive slow this Atlantic City project down
and perform a comprehensive review of the financial
health of the company they are about to guarantee $50 million to, with
our tax dollars.”
“We
will take every action necessary to stop the County, and every other
government agency, from using taxpayers’
money to move South Jersey Gas Company from Western Atlantic County to
Atlantic City,” Mayor Louis “Skip” DeStefano of Folsom added.
During
the meeting, several members of the public spoke about the need to hold
County and State elected officials
accountable for their actions. After the meeting, the Atlantic County
Freeholder Board cancelled their meeting that was planned for the final
vote to approve the $50 Million in government loan guarantees for this
project.
A
grass roots organization, called the Western Atlantic Coalition, is
leading this effort and will link
Hammonton, Folsom, Buena Vista Township Mayor Chuck Chiarello, along
with other elected officials, business owners and civic leaders. For
more information about this initiative visit www.
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