Following a Thursday morning news conference on location at Bader Field, City of Atlantic City Mayor Marty Small, Sr., City Council President Aaron “Sporty” Randolph and DEEM Enterprises, LLC representative Dan Gallagher signed a Memorandum of Understanding for a proposed DEEM development project at the former airport site.

 

Watch the news conference: https://bit.ly/3FLbEtb

 

A resolution authorizing the execution of the MOU passed during last night’s City Council meeting. DEEM submitted a $2.7 billion proposal for the site, which includes housing, retail and a motor course for residential use.

 

“Last night’s successful, unanimous City Council vote allowed me to sign this document giving DEEM Enterprises exclusivity for six months to do their due diligence on the Bader Field site,” said Mayor Small. “This project won’t just change the landscape of Atlantic City, but it will give our taxpayers relief like never before. The ratable base will nearly double. I want to thank every City Council member, our city Solicitor’s office, our administrative team, and the State of New Jersey, including Governor Phil Murphy, Lt. Governor Sheila Oliver and the entire Department of Community Affairs (DCA) team. This is a great day in Atlantic City and a historic day in Atlantic City.”

 

In addition to the new infrastructure, Atlantic City would get $115-million as part of a deal with DEEM, up to $15-million of that to build a recreation center in the city, and up to an additional $7-million for dredging. Bader Field has been closed since 2006.