25-68 RFP Marketing Stranded Properties

The City of Atlantic City is seeking proposals from qualified professional firms to enhance the city's appeal to investors and stimulate development by marketing the city's stranded properties. The selected consultant will be tasked with identifying properties suitable for redevelopment, identifying key opportunities for existing, new, and emerging industries, and creating an investment promotion toolkit for potential investors. The plan should be focused on analyzing key growth sectors tailored to match investor interests with the city's economic and cultural strengths, positioning Atlantic City as an attractive investment destination. Some key points to consider: • The city has experienced significant economic challenges, including a decline in the casino industry and a high unemployment rate. • The city has a high percentage of residents living in poverty, and the poverty rate is 33.9% compared to 9.7% for the state of New Jersey. • The city's ratable base has declined significantly, making it challenging to control tax rates while providing basic services. • The city is seeking to diversify its economy and attract new industries, including education and healthcare. • The city has a number of existing plans and studies that can be used to inform the marketing strategy, including the Atlantic City Master Plan and the CRDA Tourism District Master Plan.