The Money Island NJ stabilization and redevelopment plan evolves a little each day. The work will likely take place in three stages:
Stage 1 is stabilization. The goal is to get the land cleared of prior debts and provide basic cash to ‘keep the lights on’ and be ready to move forward. The total needed is $20,000. This will be funded by insiders in conjunction with a crowdfunding project. The purpose of using crowdfunding Is to raise awareness and build a customer base in advance of new product offering.
Stage 2 is aquaculture development. The goal is to revitalize the local economy cash flow to ensure sustainability. The cost is approximately $120,000 to repurpose the submerged land. This will be funded through Nantuxent Corporation that will use both traditional and equity crowdfunding methods. Aquaculture and dock-to-table seafood processing businesses are ready to expand as soon as permits are issued.
Stage 3 is multi-use redevelopment with new eco-tourism based housing, transient docking, retail and restaurant. This will cost millions and require an outside investor working in conjunction with the developer. We hope to reach an agreement on an educational/research building here as an anchor facility.