|
|
Article: Draft Atlantic City master plan warns about hasty Bader Field deal
- Article from:
- Press of Atlantic City
- Article date:
- January 31, 2008
- Author:
CopyrightCopyright [2008] Press of Atlantic City. Provided by ProQuest LLC. (Hide copyright information)
|
ATLANTIC CITY - As city officials learned last week of a lucrative proposal for a sprawling tract of city-owned land, they also received drafts of the resort's master plan, which warns against biting on deals that offer "immediate gratification."
"A 'one time' sale (or lease) of the Bader Field site may provide much needed funds ... but the city must look beyond the immediate gratification of such funds," the plan reads, according to a draft version obtained by The Press of Atlantic City on Wednesday.
The plan stresses a need for a mixed-use development that "serves the local residents, as well as expanding the city's economic base."
Whether the recent $800 million proposal from Penn ...