{"id":5542,"date":"2018-08-02T01:56:31","date_gmt":"2018-08-02T05:56:31","guid":{"rendered":"https:\/\/shorebeat.com\/lavallette-seaside\/?p=5542"},"modified":"2018-08-02T03:17:31","modified_gmt":"2018-08-02T07:17:31","slug":"seaside-heights-to-partner-with-nonprofit-to-develop-fiscal-recovery-plan","status":"publish","type":"post","link":"https:\/\/shorebeat.com\/lavallette-seaside\/2018\/08\/seaside-heights-to-partner-with-nonprofit-to-develop-fiscal-recovery-plan\/","title":{"rendered":"Seaside Heights to Partner With Nonprofit to Develop Fiscal Recovery Plan"},"content":{"rendered":"
\"The<\/a>

The entrance to Seaside Heights from the north. (Photo: Daniel Nee)<\/p><\/div>\n

Reeling from the loss of hundreds of millions of dollars in ratables that have yet to return following the destruction of Superstorm Sandy, Seaside Heights will \u2013 for the third year \u2013 look to the state to provide funding known as \u201ctransitional aid\u201d to retain public services.<\/p>\n

This year, Seaside Heights, following a suggestion by officials at the state Department of Community Affairs, will work with a nonprofit organization to create a long-term financial recovery plan. The borough will partner with the National Resource Network to develop a five year financial plan, hold meetings between local and national consultants and develop a Housing Resilience Plan which will aim to find funding and strategies to redevelop residential housing options in town.<\/p>\n

The\u00a0National Resource Network<\/a> was created after former President Barack Obama signed an executive order in 2012 which provided $10 million from the Department of Housing and Urban Development for its creation. The network has forged similar partnerships with cities nationwide, most recently Rockford, Illinois and Providence, R.I.<\/p>\n

\u201cThey recognized that our community could benefit from their resources,\u201d said Borough Administrator Christopher Vaz, referencing the state DCA. \u201cThey know we fixed one major issue, the water-sewer deficit, but they also know we have a ratable problem.\u201d<\/p>\n

While the partnership between the borough and the network was not a contingency required for transitional aid, it was strongly suggested by the state agency, which has identified several other municipalities with tax base issues.<\/p>\n

While Seaside Heights quickly rebuilt its boardwalk, has allowed for an expanded Casino Pier and began the process of redeveloping the Boulevard and shutting down problem motels, residential property values have been slow to recover.<\/p>\n

\u201cThe concern is that the ratables aren\u2019t recovering as fast as expected,\u201d said Vaz. \u201cThey also recognize that our housing stock needs a little help.\u201d<\/p>\n

The network will provide financial and development consultants. The financial aspect of the partnership will include the production of a five-year budgetary plan aimed at improving the borough\u2019s fiscal well-being, and the development portion will be the resilience plan that will create \u201ctargeted strategies\u201d to improve housing stock. The plan will aim to \u201cincrease the volume and stability\u201d of both rental properties and year-round properties.<\/p>\n

The borough will pay $37,000 for the services, representing 25 percent of its total cost. The remainder will be paid by the state.<\/p>\n

<\/div><\/div>","protected":false},"excerpt":{"rendered":"

Reeling from the loss of hundreds of millions of dollars in ratables that have yet to return following the destruction of Superstorm Sandy, Seaside Heights will \u2013 for the third year \u2013 look to the state to provide funding known as \u201ctransitional aid\u201d to retain public services. This year, Seaside Heights, following a suggestion by […]<\/p>\n","protected":false},"author":1,"featured_media":1794,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[18,6,5],"tags":[1410,20],"class_list":["post-5542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-seaside-government","category-seaside-heights","tag-national-resource-network","tag-seaside-heights-nj-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/shorebeat.com\/lavallette-seaside\/wp-content\/uploads\/2016\/05\/seaside_heights_welcome_sign.jpg","jetpack_shortlink":"https:\/\/wp.me\/pgsn9q-1ro","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/shorebeat.com\/lavallette-seaside\/wp-json\/wp\/v2\/posts\/5542","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/shorebeat.com\/lavallette-seaside\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shorebeat.com\/lavallette-seaside\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shorebeat.com\/lavallette-seaside\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/shorebeat.com\/lavallette-seaside\/wp-json\/wp\/v2\/comments?post=5542"}],"version-history":[{"count":0,"href":"https:\/\/shorebeat.com\/lavallette-seaside\/wp-json\/wp\/v2\/posts\/5542\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shorebeat.com\/lavallette-seaside\/wp-json\/wp\/v2\/media\/1794"}],"wp:attachment":[{"href":"https:\/\/shorebeat.com\/lavallette-seaside\/wp-json\/wp\/v2\/media?parent=5542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shorebeat.com\/lavallette-seaside\/wp-json\/wp\/v2\/categories?post=5542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shorebeat.com\/lavallette-seaside\/wp-json\/wp\/v2\/tags?post=5542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}