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College plans to incorporate Galloway facilities with hospitality and tourism programs

Richard Stockton College announced that its purchase price for the Seaview Resort in Galloway Township will be $20 million.

The two sides announced a purchase agreement a month ago, but withheld details pending a protracted due diligence period. Stockton President Herman Saatkamp Jr. announced the price tag on Sept. 1, while touting the benefits to the college and the area.

Stockton has partnered with the nearby resort for more than 40 years, and will use the deal "to advance the educational mission, enhance the college experience for our students and preserve an iconic landmark of the region," Saatkamp said.

The college plans to keep the hotel and golf resort operating, retaining the current management teams, according to college officials.

At the same time, though, it plans to incorporate part of the facility into its hospitality and tourism programs, as well shifting some offices there to reduce the space crunch on its campus in the Pomona section.

"As Atlantic City evolves to a destination resort, the training we provide will play a significant role," Saatkamp said in a statement released by the college.

According to Saatkamp, the college already has budgeted several million dollars for "significant improvements" at Seaview, including work on the hotel and the two golf courses.

Some in the township have raised concerns about the tax impacts of bringing a major private employer under control of a public entity. Without specifying the amount, Saatkamp pledged Stockton officials will meet with township representatives to negotiate "mutually beneficial" payments in lieu of taxes.

— STAFF, NEWJERSEYNEWSROOM.COM