Stockton’s planned new residential building in Atlantic City will have a design similar to the existing residential building that opened in 2018.
The Atlantic County Improvement Authority will hold a public telephonic meeting to discuss its proposal of issuing a $70 million bond to finance Stockton University’s new residential building.
The public will have the opportunity to learn more information and voice opinions of the proposal at 10 a.m. Thursday.
Located on the corner of Atlantic and Providence Avenue, the new residential building is estimated to cost $64 million and be completed by 2023. The project is Phase II of Stockton’s expansion into Atlantic City and will be of similar design to the existing residential building on Atlantic and Albany avenues that opened in 2018.
If approved, the authority’s bond will be used to fund the construction of the residential complex, as well as capitalized interest and costs related to its issuance, but it will not exceed $70 million.
Those wishing to participate in the hearing can call in at 800-615-2820 and use the participant code 826559. Public comments can be made during the meeting but will be limited to 5 minutes.
Written comments and notice of public comments must be submitted to John C. Lamey, executive director, at lamey_john@aclink.org, by 10 a.m. Wednesday.
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