VENTNOR – The Board of Commissioners Oct. 9 took steps to ensure the city continues to increase its ratable base and replace a section of aging residential boardwalk. It also approved a redevelopment agreement for the old Troy Avenue school project.
Commissioners agreed that extending the existing residential abatement program has significantly increased the ratable base, which helps to stabilize the tax rate. Following a public hearing during which no members of the public spoke for or against it, the commissioners approved an ordinance extending the program for another five years.
“It’s a benefit that eventually pays off,” they agreed.
When older homes are torn down, they are replaced with larger flood compliant homes with much greater valuation. The value of a new home could triple or quadruple the assessed valuation of the improvement, the tax assessor said.
The abatement program requires the applicant to pay the full tax due on the land, but they get a 30% abatement or discount on the tax due on the improvement for a full five years.
In other business, the board approved an $8,427,984 contract for Fred M. Schiavone Construction of Malaga to rebuild a section of the boardwalk from Cambridge Avenue to Jackson Avenue at the city’s border with Atlantic City. The project will completely replace the structure, including pilings, decking, rails and lighting.
According to Commissioner of Public Works Lance Landgraf the new lighting system will be lower to prevent glare into second story windows and better light the boardwalk. The smaller light standards will also make it easier for the city’s Public Works Department to maintain the lights, he said.
The city will fund a major portion of the project with a $7.1 million grant received from the Boardwalk Preservation Fund approved by Gov. Phil Murphy two years ago. The fund requires the city to complete the project by October 2026. To expedite construction, the city purchased the Ipe wood for the decking several months ago.
“It’s important to award tonight to get it started” he said.
Schiavone was the lowest of five bids received for the project. The highest bid received topped $10.5 million.
Ventnor Professional CampusThe city also authorized the execution of a redevelopment agreement with DAJ Ventnor LLC to build housing and redevelop the front portion of the old Ventnor Avenue School, which is currently known as the Ventnor Professional Campus.
DAG developer David Waxman, a part-time Cambridge Avenue resident for the last 49 years, purchased the 2.3 acre property, which spans nearly the entire block except for the parcel where Firehouse No. 1 is located, with the intention of turning it into a mixed use project that preserves the historic nature of the brick schoolhouse. The rear of the property will be demolished to make way for 34 Key West-styled townhouses separated by a one-way street that goes from New Haven to Troy Avenue. An additional row of townhouses will be located along the rear of the property facing Winchester Avenue. Each unit will have three off-street parking spaces and a yard. Brick accents will be incorporated into the façade to reflect the historic nature of the original schoolhouse building.
Mayor Tim Kriebel said the project would revitalize the Commercial District, improve the streetscape and accommodate residents with additional commercial entities, such as eateries.
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