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Asbury Park hires retired justice for independent review as Paramount work races against December grant deadline
Summary
Council and redevelopment counsel said a phase-one $1.3 million investigation is part of a $30 million grant tied to a December completion date; an independent review by retired NJ Supreme Court Justice Lee Solomon was hired and is expected to report in three to four weeks.
Asbury Park officials said Tuesday they are pushing to finalize redevelopment agreements and meet a grant-driven December deadline for work on the Paramount Theater, and have hired independent counsel and a retired justice to evaluate potential remedies if the private developer defaults.
Redevelopment attorney Joe Marzilli told the council the paperwork for the Paramount and related waterfront projects includes several separate agreements: a city-MLR agreement, a contract between MLR and its contractor (March Construction) and a services agreement with WAVE Architecture. "The first step was phase one to spend $1.3 million on the phase out of $30 million grant," Marzilli said, describing the phase-one investigative work that remains under…
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