Wednesday, May 31, 2017

AtlantiCare Agrees to 10-Years of Voluntary Financial Contributions to Galloway Township

Photo Credit:
In just a little over eight months, the Township of Galloway approved a voluntary financial agreement with AtlantiCare that will guarantee revenue for the Township until 2026.

In a Community Service Contribution Agreement, AtlantiCare has agreed to make voluntary contributions to the Township in excess of $200,000 per year for 10-years.

AtlantiCare Regional Medical Center located on Jimmie Leeds Road is currently exempt from paying property taxes. Residents previously voiced their concerns of the public resources utilized by the hospital, yet property taxes could not be collected.

The Township heard those concerns and immediately began negotiations with the Hospital after New Jersey Legislation allowed such agreements to be made between Hospitals and Municipalities.

The New Jersey Legislation permits a voluntary community service contribution to be made and calculated as a Licensed Bed Contribution. 

Per the agreement, the Township will receive the following voluntary contribution annually based on a percentage scale:

  • 2017 - $208,000
  • 2018 - $230,000
  • 2019 - $252,000
  • 2020 - $274,000
  • 2021 - $297,000
  • 2022 - $320,000
  • 2023 - $326,400
  • 2024 - $332,928
  • 2025 - $339,587
  • 2026 - $346,378
The money collected by the Township shall be generally used to fund Public Safety, Health and Human Services and/or Parks and Recreation.


Post a Comment

Web Analytics