Editing Asbury Park, New Jersey (section)

==Economy==

===Urban Enterprise Zone===
Portions of the city are part of a joint [[Urban Enterprise Zone]] (UEZ) with [[Long Branch, New Jersey|Long Branch]], one of 32 zones covering 37 municipalities statewide. The city was selected in 1994 as one of a group of 10 zones added to participate in the program.<ref>[https://www.state.nj.us/dca/affiliates/uez/publications/pdf/tax_q&a_052709.pdf ''Urban Enterprise Zone Tax Questions and Answers''], [[New Jersey Department of Community Affairs]], May 2009. Accessed October 28, 2019. "In 1994 the legislation was amended and ten more zones were added to this successful economic development program. Of the ten new zones, six were predetermined: Paterson, Passaic, Perth Amboy, Phillipsburg, Lakewood, Asbury Park/Long Branch (joint zone). The four remaining zones were selected on a competitive basis. They are Carteret, Pleasantville, Union City and Mount Holly."</ref> In addition to other benefits to encourage employment and investment within the UEZ, shoppers can take advantage of a reduced 3.3125% [[sales tax]] rate (half of the {{frac|6|5|8}}% rate charged statewide) at eligible merchants.<ref>[https://www.nj.gov/dca/affiliates/uez/about/ Urban Enterprise Zone Program], [[New Jersey Department of Community Affairs]]. Accessed October 27, 2019. "Businesses participating in the UEZ Program can charge half the standard sales tax rate on certain purchases, currently 3.3125% effective 1/1/2018"</ref> Established in September 1994, the city's Urban Enterprise Zone status expires in September 2025.<ref>[https://www.nj.gov/dca/affiliates/uez/publications/pdf/ZONE%20EXPIRATION%20DATES%20-%202018.pdf Urban Enterprise Zones Effective and Expiration Dates], [[New Jersey Department of Community Affairs]]. Accessed January 8, 2018.</ref>

===Hotels===
[[File:BerkleyCarteret.jpg|right|thumb|upright=1.1|Berkeley Hotel, 2007]]
At one time, there were many hotels along the beachfront. Many were demolished after years of sitting vacant, although the Sixth Avenue House Bed & Breakfast Hotel (formerly Berea Manor) was recently restored after being abandoned in the 1970s—it is no longer operational and was sold as a single family home. Hotels like the Berkeley and Oceanic Inn have operated concurrently for decades, while the Empress Hotel and the former Hotel Tides were restored and reopened. The Asbury Hotel, located on 5th Avenue, was the first hotel to be "built" in Asbury Park in 50+ years. It stands where the old Salvation Army building once stood, which has sat vacant for over a decade. The building itself was not torn down, but the entire inside was gutted and redone. Glass paneling was added to the front and all the original outside brickwork was kept. While located a block and a half from the beach, a great view of the ocean is still offered by the upper floors and rooftop.

Currently open hotels include the Berkeley Oceanfront Hotel (formerly the Berkeley-Carteret Oceanfront Hotel), [[The Empress Hotel (New Jersey)|The Empress Hotel]], the St. Laurent Social Club (formerly known as Hotel Tides), Asbury Park Inn, Oceanic Inn, Mikell's Big House Bed & Breakfast as well as The Asbury Hotel<ref>[https://www.theasburyhotel.com/ Home Page], The Asbury Hotel. Accessed December 18, 2020.</ref> and The Asbury Ocean Club Hotel,<ref>[https://hotel.asburyoceanclub.com/ Home Page], Asbury Ocean Club Hotel. Accessed October 22, 2021</ref> both developed by iStar, the master developer for the Asbury Park Waterfront.

Demolished:
* The Albion Hotel (2001)<ref>[http://www.aphistoricalsociety.org/rainbow-sign.html "Asbury Park Historical Society Dedicates Rainbow Room Sign"], Asbury Park Historical Society. Accessed June 15, 2014. "The 16-foot metal and neon sign, removed when the Albion was demolished in 2001 for beachfront redevelopment, has since been stored briefly at the Stone Pony and then for ten years at the city's public works garage."</ref>
* [[Metropolitan Hotel (Asbury Park)|The Metropolitan Hotel]] (2007)<ref>DiIonno, Mark. [http://blog.nj.com/njv_mark_diionno/2007/11/on_nights_when_the_mist.html "Grim end for a grand hotel"], ''[[The Star-Ledger]]'', November 2, 2007. Accessed June 15, 2014. "The Metropolitan is part of Asbury Park history, too.... A few weeks from now, it will be a vacant lot. How the Metropolitan went from a first-class seaside resort to a broken down wreck slated demolition is a story of Asbury Park, and a reminder that time never stops claiming victims."</ref>