Press of Atlantic City article recap (Devco)

In January 2016 the Middlesex County Reinvestment Authority missed a $1 million dollar payment in principal and intrest on a $20 million dollar loan received from the Casino Reinvestment Development Authority. Over the past five years, the Middlesex County Reinvestment Authority failed to make on time payments, totaling $7 million dollars. The loan was granted in 2005 for the construction of a New Brunswick hotel and profit center, under the authority of a non-profit organization. A sister company of New Brunswick is due to oversee a $200 million construction project. Both projects are overseen by attorney Christopher Paladino. The projects have the intent of turning a part of town that does not bring in that much revenue into a economically thriving area for everyone involved. The original article written on Press of Atlantic City can be found at Your text to link…
New Brunswick Corportation, also known as DEVCO is a private nonprofit urban real estate company. The company was founded in the early 1970’s for the intent of reconstructing the city, making it a profitable place for everyone who lives here. The talented staff at Devco, along with the strong public and private investors give the company the ability to work on a wide range of projects.

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