Mayor Gilliam Announces Business Incentives

USEPA and NJEDA Grants Funding New & Expanded Programs

Atlantic City, New Jersey – The cost of economic development in Atlantic City just got cheaper.

Many development sites in Atlantic City have some form of petroleum or historic fill contamination problem.  An added cost of land development in Atlantic City is assessing the property to determine the level of contamination and the method of remediation.  Now, thanks to the $300,000 grant from the United State Environmental Protection Agency (USEPA), developers can apply to the City for funding for these assessments and avoid the cost of testing.

Starting today, the City is accepting applications from commercial and multi-family residential developers for assessment services. Successful developers will be able to receive a Phase 1 and/or Phase 2 environmental assessment of their property at no cost.

Mayor Frank Gilliam stated, “We want to assist developers to be successful in Atlantic City.  Environmental assessments can cost thousands of dollars and the City is fortunate to have grant funds to cover these costs.”

Developers will have to complete an application and once approved, the City will authorize one of the brownfields assessment firms that are contracted with the City to complete the assessment at no cost to the developer.

Two additional economic development programs are being expanded to help existing business in Atlantic City.

With funding from the New Jersey Economic Development Authority (NJEDA), the target area for the Business Lease Incentive and Business Improvement Incentive Programs is being expanded to include Atlantic and Pacific Avenue from Massachusetts Avenue to Albany Avenue and Albany Avenue from Pacific Avenue to West End Avenue.  The Downtown Loop area qualifies as well.

These programs are designed to support the growth of retail and services by providing grants to street level, new and expanding businesses.

“Our goal is to make our gateway business districts attractive and successful,” noted Mayor Gilliam.  “These grants are a first step towards helping the local business person.”

There are two programs being offered.  The first program provides grants up to a 50 percent of the project costs, to a maximum of $20,000, for improvements made to the first floor of the business in the target area.

A second program offers reimbursement of 15 percent of the annual lease payments for two years to for-profit businesses and non-profit organizations in the target area that lease between 500 and 5,000 square feet of new or additional market-rate, first floor office or retail space for a minimum of five years.  An applicant leasing over 5,000 square feet can be eligible, but the grant will only incentivize the first 5,000 square feet.

All of these programs are offered on a first come/first serve basis until the grant funding is fully obligated.

Mayor Gilliam noted, “Without the support and cooperation of USEPA and NJEDA these programs would not be possible.  We thank these agencies for supporting the economic growth in Atlantic City.”

For additional information about these programs please contact Ben Kaufman, Acting Director, Atlantic City Department of Planning and Development at 609.347.5404.

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