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Eatontown approves NJEDA memorandum to access up to $1 million for infrastructure tied to Netflix Studios
Summary
Council approved a Memorandum of Understanding with the New Jersey Economic Development Authority enabling up to $500,000 in NJEDA funds plus $500,000 from the Fort Monmouth Economic Revitalization Authority to support infrastructure linked to the Netflix Studios development at Fort Monmouth.
The Borough Council approved Resolution 108‑2026, authorizing a Memorandum of Understanding with the New Jersey Economic Development Authority (NJEDA) related to Netflix Studios at Fort Monmouth. The resolution states NJEDA agreed to provide the borough with funds "up to $500,000" for infrastructure improvements that support the Netflix facility, and notes Fort Monmouth Economic Revitalization Authority intends to contribute an additional $500,000 to NJEDA for the same purpose. Together the stated funding sources provide up to $1,000,000 for infrastructure projects intended to support the Netflix project and to address related municipal impacts.
Council members said the funding will be used for targeted infrastructure improvements; the resolution directs the mayor to execute the Memorandum and Amendment 1 and asks municipal staff to coordinate implementing projects with NJEDA and FMERA. The council characterized the action as necessary to maximize local economic activity related to the Netflix development and to use state appropriations earmarked for film‑industry strategic support.
