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.