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Police
3-2-1 Program
The Casino Reinvestment Development authority in cooperation with the
Atlantic City Police Department designed The 3-2-1 Police Residency Program
to help stabilize Atlantic City neighborhoods by making them more economically
viable and safer for the citizens who live and work there. This will be
accomplished by offering incentives to Atlantic City police officers who
move into city neighborhoods and carry out certain community oriented
policing activities. Officers can choose existing residences (including
condominiums), rehabilitate older homes, build new ones, or re-finance
their existing Atlantic City home. Under the 3-2-1 Program, marked motor
patrol units will be assigned to participating officers to take home and
use during off duty hours. This will create a greater police presence
and assist in efforts to deter crime.
About
the 3-2-1 Program:
The goal of the program is to help stabilize the City neighborhoods by
making them more economically viable and safer for the citizens who work
and live there.
What
Does 3-2-1 Mean:
There are three incentive packages to choose from. Officers may choose
to live in any residential area of Atlantic City. The incentives will
be applied to all areas designated by the program.
Eligible
Uses: Atlantic City Residents
Ten of the 35 loans CRDA will authorize will be reserved for those who
already own or rent in Atlantic City. Existing owners can choose to refinance
at these terms.
What
are the 3 Areas?
Area 3:
Offers the fewest incentives to officers, and consists of the area known
as the Northeast Inlet.
Area 2:
Offers a middle range of incentives and consists of the areas known as
Chelsea Heights, Lower Chelsea, and Venice Park.
Area 1:
Offers the GREATEST incentives and consists of the areas known as Upper
Chelsea, Midtown/ Westside, South Inlet, and Bungalow Park.
Incentives:
Area 3:
- $300 application
fee
- 3% mortgage rate
- 3 loan points
- No loan forgiveness
Area 2:
- $200 application
fee
- 2% mortgage rate
- 2 loan points
- 1 year forgiveness
of loan for every 2 years of residency
Area 1:
- $100 application
fee
- 1% mortgage rate
- 1 loan point
- 1 year forgiveness
for every 1 year of residency
Contact: Bunny Loper-Rixey
CRDA 1014 Atlantic Avenue
Atlantic City, N.J. 08401
Phone: 609.347.0500
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