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A news release issued Tuesday afternoon by the State’s Department of Community Affairs [DCA] praises Asbury Park for its financial independence, revitalization and job growth.

On June 3, Asbury Park hosted its 27th annual Jersey Pride parade, drawing thousands of visitors to the popular shore town, the release stated. In attendance, Governor Phil Murphy said to the crowd, “We’ve come a long way.”  

This was also the case for the town of Asbury Park, that just 8 years ago was in a state of significant urban economic decline, the written statement said. In 2010 Asbury Park needed and was granted over $11 million dollars from the State to help fill its’ structural budget deficit with technical assistance, budget development, procurement, staffing and contract negotiations.

Over the course of the next seven years, these efforts helped bring fiscal stability, the local economy improved and Asbury’s tax base rebounded. With determination and problem-solving skills, the city took advantage of their economic development assets and focused their attention on the boardwalk.  

By 2018, Asbury Park managed to steadily decrease the assistance it received to the point where it could balance its budget without supplemental aid.

“We acknowledge and commend the hard work Mayor John Moor, the city council, and their dedicated staff have done,” Lt. Governor Sheila Y. Oliver, Commissioner of the New Jersey Department of Community Affairs said in the written statement. “Our work together has led to a revitalized Asbury Park.”

Residents and visitors witnessed the transformation first-hand as boarded up buildings became thriving new niche businesses popping up in and around the boardwalk – from a trendy historic hotel and bowling alley to new restaurants and cafes.  

The proof of the revitalization was also in the data; from 2010 to 2016, the number of receipts from beach passes rose 163 percent, marking Asbury Park beaches as a popular destination for Shore tourists.

Overall, there was a 10 percent jump in the number of businesses established during this same transitional period, resulting in a 40 percent increase in the number of jobs in the town.

“Asbury Park’s cohesive vision for development paired with their leadership’s dedication to the city’s revitalization has made it possible for them to make such progress,” said DCA’s Director of Local Government Services Tim Cunningham, who helped oversee the administration of transitional aid.

In addition to being transitioned off the additional aid, Asbury Park received a three-level credit rating increase from Moody’s and introduced a budget with no municipal tax increase this year.

The City recently adopted a Workforce Designation Plan, secured a federal Housing and Urban Development [HUD] CHOICE neighborhood grant designated to revitalizing its southwest neighborhood, and is working on a long-term fiscal plan.

“The majority of the credit goes to our staff, who has been working on this for a long time,” Mayor John Moor said.

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