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Mayor Small has announced that DEEM Enterprises has submitted a signed financial commitment to the City of Atlantic City for its proposed $3 billion redevelopment plan for Bader Field. This financial commitment will now undergo a vetting process by both the city and the State of New Jersey.
If the commitment passes this review, the city can begin negotiations with DEEM on a formal redevelopment agreement.
Should the project proceed, the City of Atlantic City will receive $100 million for the sale of Bader Field, as well as $15 million designated for the construction of a community recreation center within the city.
This video provides a summary of the announcement and the next steps in the proposed redevelopment process. Stay tuned!