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To keep our members as informed as possible on economic news and opportunities, the New Jersey Alliance for Action will periodically issue the following kind of up-to-date online report. We would appreciate your comments and suggestions.
Sincerely,                             
Phil Beachem, President
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August 4, 2010

SENATE APPROPRIATIONS COMMITTEE APPROVES $206 MILLION FOR TUNNEL
  The U.S. Senate Appropriations Committee approved $206 million toward construction of the ARC trans-Hudson rail tunnel.  New Jersey's two U.S. Senators Frank Lautenberg and Robert Menendez said the money is part of the Fiscal 2011 Transportation, Housing and Urban Development Appropriations bill which now goes to the full Senate.  

The $8.7 billion tunnel is the nation's largest public works project and is being paid for with federal, state and Port Authority of New York and New Jersey funds.  

The appropriations bill also includes $1.5 million for an I-280 ramp in Harrison and $1 million each to rebuild a collapsed stretch of waterfront walkway in Hoboken and reconstruction of a bridge over freight rail tracks in Woodbury.  

ECONOMIC BENEFITS OF ARC TUNNEL ARE REPORTED
The Regional Plan Association released a major study on the economic benefits to property values of the ARC commuter rail tunnel under the Hudson River now in construction.  The findings were:

  • Home values within two miles of train stations after the tunnel is completed are predicted to increase an average of $19,000.
  • The cumulative increase in home values would be $18 billion, with the higher tax bases relieving pressure on local tax rates.
  • The number of people west of the Hudson River who live less than a 50-minute commute to midtown Manhattan will double, thanks to shorter commuter times.
RICHARD STOCKTON COLLEGE TO ACQUIRE SEAVIEW RESORT
  Richard Stockton College of New Jersey announced an agreement to acquire the Seaview Hotel and Golf Resort in Galloway to educate students in the college's hospitality program and to house nearly 400 students.  

President Herman J. Saatkamp, Jr., of the Pomona-based college, said the due diligence period will end August 9 with a closing to follow in two weeks to 30 days.  Terms of the deal with Seaview owner, LaSalle Hotel Properties, will be announced at that time.  

Saatkamp said the purchase will not cause an increase in tuition and the college will make payments in lieu of taxes to the town of Galloway, which now receives more than $400,000 in taxes from the Seaview property.  Students will not start moving in until fall of 2011, but hospitality classes could begin this fall.  

Saatkamp said: "Seaview is a four-star resort where students will have a living and learning community and work with the hotel and golf courses in a public-private partnership."  

DELAWARE RIVER COMMUNITIES RECEIVE TRANSPORTATION GRANTS
The Delaware River Joint Toll Bridge Commission awarded nearly a million dollars to four communities for transportation-related improvements. It was part of a program launched in 2005 that has awarded nearly $47 million in grants to river communities. 

The new grants were:

  • Ewing Township received a $240,682 grant for the initial phase of the Wilburtha Road improvement project.
  • Holland Township's $232,990 grant will help fund resurfacing of Mt. Joy Road.
  • Delaware Township will use a $246,191 grant to upgrade sewers on Federal Twist Road.
  • Milford was awarded $195,000 for resurfacing Honeysuckle Road.

FACILITIES GRANTS OF $270 MILLION APPROVED FOR SCHOOLS
School facilities grants totaling $270 million in state funds for 177 school districts were announced by Governor Chris Christie. The grants represent about 40 percent of the cost of $697 million of 740 capital construction and maintenance projects.  It was estimated that the projects would generate as many as 6,000 jobs during construction.

ATLANTIC HEALTH TO INVEST IN IMPROVEMENTS IN MORRISTOWN AND SUMMIT
Atlantic Health plans multi-million dollars in capital investment at its two hospitals, Morristown Memorial and Overlook in Summit.  The Morristown Memorial project will be an $18 million expansion of the emergency department.  The project will be done in phases and will take two years to complete.  Atlantic Health also will invest about $10 million in a parking garage expansion at Morristown Memorial, adding two more floors and 464 parking spaces.   

At its Overlook Hospital in Summit, Atlantic Health is in the process of renovating an old patient facility into a new inpatient bed unit, a $3.2 million project.  Another Overlook improvement will be $2.5 million in the Thomas Glasser Caregivers Center to provide free support services, such as counseling, for families caring for patients during hospitalization.  Both Overlook projects are expected to be completed by the end of 2010.  

RUTGERS TO BUILD $215 MILLION DORMITORY ON LIVINGSTON CAMPUS
  Rutgers University will break ground this fall on its Livingston Campus in Piscataway for a $215 million, 648,000 square-foot dormitory project.   

The largest project in dollars that Rutgers has undertaken to date, it is part of the university's redevelopment of the Livingston campus.  The campus also is scheduled to be the site of a new dining hall and a renovated student center.  

The development, slated for completion in the fall of 2012, will provide 1,500 suite-style apartments in three multi-story buildings.  There also will be 25,000 square-feet of ground-floor retail space in two of the buildings.  

Rutgers said it is funding and developing the project by itself and expects to award a contract to a construction firm in the fall and to break ground shortly thereafter.  The university also plans to begin leasing efforts for the retail space.  

NEW JERSEY FIRMS AWARDED CONTRACTS FOR ELLIS ISLAND IMPROVEMENTS
  The National Park Service has awarded $29 million in contracts for projects to provide a facelift to Ellis Island.  More than $27 million of the contracts will go to two New Jersey companies.  

Phoenix Marine Co., Inc., of Sayreville received a $20.9 million contract from the Park Service to rehabilitate and stabilize deteriorating sections of Ellis Island's 6,700-foot-long sea wall.  

In addition, APS Contractors of Paterson received a $6.7 million contract to stabilize the old baggage and dormitory building on the North end of Ellis Island and to remove environmental contaminants.  

DOT SAYS LIST OF FISCAL 2011 PROJECTS IS AVAILABLE
  The New Jersey Department of Transportation (DOT) announced the project list is available for the $700 million capital construction program in the recently approved Fiscal 2011 state budget.  

DOT said the capital program, which began July 1, 2010, consists of $520 million to be bid through the Department's OPM program and $180 million through the maintenance program.  

In addition to the capital construction program, the DOT said it will provide approximately $170 million for local aid construction to counties and municipalities.

To view the list of projects, Go Here.  

CRDA ANNOUNCES FUNDING FOR ATLANTIC CITY TRAFFIC IMPROVEMENTS
  The Casino Reinvestment Development Authority (CRDA) approved projects to improve mobility and access for visitors and residents of Atlantic City.   

CRDA is contributing $18.3 million to the $42 million South Inlet Transportation Improvement Project, for which the general construction services contract was awarded to L. Ferriozzi Concrete Co. of Ventnor.  It will develop a key transportation project for the South Inlet by expanding Connecticut Avenue, making improvements to cross streets and improving the connection to Route 30 (White Horse Pike).  

CRDA also funded the $618,349 cost of the Dr. Martin Luther King Jr. Boulevard widening, consisting of roadway construction, utility work, traffic striping and signage, traffic signalization and streetscape.  

James B. Kehoe, CRDA Chairman, said the work is "in alignment with Governor Christie's goal of turning Atlantic City into a great resort destination." CRDA Executive Director Thomas D. Carver, said CRDA "continues to build the infrastructure of tourism."  

PEOPLE ON THE MOVE

  • Tony Oliveira has been named as the new Business Manager of Laborers Local 472, New Jersey's largest construction union.  He succeeds the retired Louis Giammarino.  Oliveira became a member of Local 472 in 1977 and advanced steadily to his election as Local President.
UPCOMING EVENTS
7/29/10 - Essex County Alliance for Action to register, Go Here.

9/17/10 - Atlantic County Alliance for Action to register, Go Here.

10/1/10 - Somerset County Alliance for Action to register, Go Here.

10/13/10 - 36th Annual Eagle Awards Dinner to register, Go Here.

10/22/10 - Mercer County Alliance for Action to register, Go Here.

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