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Council approves $500,000 escrow for Bader Field developer; members seek access to technical studies
Summary
Atlantic City Council voted unanimously to require Deem Enterprises LLC to place $500,000 in escrow to cover city professional costs connected to proposed activity at Bader Field. Several council members pressed the administration for more public access to technical reports, including a sound study.
Atlantic City Council on March 19 approved an escrow agreement that requires Deem Enterprises LLC to deposit $500,000 to cover the city’s professional costs related to proposed work at Bader Field.
Councilwoman Laca said she pulled the item for discussion before the roll call. The Business Administrator explained that the escrow will be used to pay outside engineering, legal and other professional bills incurred while the city reviews the developer’s proposals and that the developer must replenish the account as funds are drawn.
The measure mattered to council members because it shifts certain review costs to the developer and because residents have…
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