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Council approves addendum for Paramount Theater repairs, $11.7 million in work planned
Summary
Council voted to approve an addendum to a Boardwalk Preservation subgrant that supports partial repairs to the Paramount Theater; the developer, Madison Asbury Retail, has engaged Poland SST as contractor and the city will release funds only after certifications and third‑party review.
Redevelopment attorney Joel Myers told the Asbury Park City Council that an addendum to the Boardwalk Preservation subgrant agreement with Madison Asbury Retail will fund partial repairs at the Paramount Theater and allow the contractor Poland SST to mobilize.
"The addendum to the subgrant agreement will provide for the work to be done for $11,700,000," Joel Myers said, describing a process in which the city will hold funds and pay…
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