(Atlantic) On Wednesday, the Atlantic City Council will discuss an order regarding a Letter of Intent and Financial Commitment for Vision Atlantic.
According to the City Council meeting packet, this agenda item is based on Councilman Mike McDermott’s request from the March 19, 2025, city council meeting and feedback from Vision Atlantic on the sufficient form of Commitment to the YMCA Project. The Council will discuss how and by whom this letter is drafted amongst itself and with Vision Atlantic representatives. Once prepared, it will be scheduled for a formal vote.
At the March 19 City Council meeting, the Atlantic City Council, Vision Atlantic representatives, and City Attorney John Danos discussed Vision Atlantic’s funding request of $2.5 million for the YMCA expansion.
On February 5, Vision Atlantic President Christina Bateman formally asked the Council for $6.7 million, covering 38% of the $16.5 million total cost, starting with the initial $2.5 million in the 2026 budget. The remaining $4.2 million will be addressed later. Bateman says the only request they have now is the $2.5 million.
On February 11, the Council appeared ready to come to a consensus on the $2.5 million contribution using Local Option Sales Tax Dollars. In the council packet, Atlantic City Administrator John Lund noted that reallocating funds wouldn’t alter commitments to other organizations or staff levels. However, the Council pulled the vote from the agenda.
Thanks to the Charles E. Lakin Foundation’s significant contribution and support from local donors, $22.9 million of the $30 million fundraising goal has been achieved in the past 14 months. Alongside the Lakin Foundation’s $ 8.6 million grant, Vision Atlantic has secured an additional $23 million from the Foundation, which will serve as a line of credit to assist in constructing 144 mixed-unit housing developments of homes in the Camblin Hills Housing Development. Each year, as the funds are repaid, the Foundation plans to donate up to 5% of the interest repayments back to Vision Atlantic, supporting the operation of the child development center. It’s worth noting that this $23 million is separate from Vision Atlantic’s $ 30 million fundraising goal.
