Borough of Oceanport Mayor & Council Agenda December 2025
Oceanport Secures $3M Netflix Community Benefits Deal
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Description
Oceanport approved a Community Benefits Agreement with Netflix, Inc. and the New Jersey Economic Development Authority tied to Aspire tax credits for the Netflix studio project. Under the agreement, Netflix will provide a $3 million community benefits payment within 10 days of closing on the Fort Monmouth property.
Contract Details
Contract Amount
$3,000,000.00
Vendor
NETFLIX INC
Agency
Borough of Oceanport, NJ
Contract Type
FINANCIAL_SERVICES
Document Date
December 4, 2025
Contract Term
One-time payment due within 10 days of closing on property
Renewal Info
One-time community benefits payment obligation under the Aspire Program; no renewal is contemplated, though additional obligations may be detailed in the full agreement.
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