Atlantic County freeholders will introduce a $7.5 million bond ordinance at their meeting tomorrow, for part of the construction of the first building at the Stockton Aviation Research and Technology Park in Egg Harbor Township.
The agenda also includes introduction of an ordinance guaranteeing the payment of principal and interest on $15.5 million in bonds and notes to be issued by the Atlantic County Improvement Authority for the same building, which is expected to cost about $22.5 million.
A third ordinance to be introduced would guarantee $50.4 million in ACIA bonds for the Stockton Atlantic City Campus.
The Casino Reinvestment Development Authority declined to vote on contributing $2.7 million to the SARTP’s first building, because the park has not provided letters of intent from potential tenants. The CRDA is expected to call a special meeting March 1 to vote, should the letters be provided.