January 23, 2008
< 1 minute read
EDA VISITS SHOPRITE SUPERMARKET IN MILLVILLE
(L-R) Tim Lizura, EDA Senior Vice President of Business Development, Laura Wallick, EDA Regional Director for Business Development in Southern NJ, Patrick Bottino, Jr., Store Director, James Bottino, President and CEO, Maria Bottino, HR Director, Richard M. Cifelli, Chief Financial Officer, and Justin Kenyon, EDA Business Development Officer in Southern NJ are pictured in ShopRite Supermarket located in Union Lake Crossing Shopping Center in Millville. In December, the EDA made a $1.25 million loan through its Local Development Financing Fund (LDFF) to pay off a portion of the temporary financing used to get ShopRite completed and operating. The Bottino Family owns and operates the supermarket, along with three other ShopRite stores in New Jersey. EDA’s financing accounted for 25-percent of the costs associated with the Millville store, including equipment purchases. In an effort to bring new commercial opportunities to Millville, EDA previously worked with the City and a private developer to assist in the construction of the Union Lake Shopping Center. EDA provided technical assistance and $22.5 million in financing to the project, which helps to advance Governor Jon Corzine’s Economic Growth Strategy to support community development. Today, the Center boasts 530,000 square feet of retail and is home to over 30 stores, including national retailers such as Target, Kohl’s, PetsMart, Staples and Circuit City, in addition to the ShopRite.