The Hammonton site of Richard Stockton College will officially be known as Kramer Hall, after Charles and Lynn Kramer, who pledged $250,000 to the school Wednesday.
The gift agreement was signed at a ceremony during the board of trustees meeting at the college’s main campus in Galloway Township.
Stockton President Herman J. Saatkamp Jr. said Charles Kramer has played a major role in the college’s foundation. Kramer has been part of the foundation for more than 15 years and served as chairman from 2007-09.
“It’s been a pleasure working with a family that is dedicated to Stockton, but also to the community where they do business,” Saatkamp said.
The family business, Kramer Beverage, moved to Hammonton in 2001, Kramer said. Charles Kramer now lives in Florida and Ventnor, and his son Mark, of Voorhees, is president of the company. Mark and sister Michele Kramer Sloane of New York also attended the event. Lynn Kramer was in Florida and could not attend.
Charles Kramer said the company’s roots in South Jersey go back to before Stockton opened and that he has been happy to be involved with the college for so many years.
“We enjoy being in Hammonton,” he said of the business, “and when the opportunity came for Kramer to be involved in bringing Stockton and Hammonton together, it was a natural fit.”
He said he hopes the new site will bring many students to Hammonton and be good for both the students and the town.
Hammonton Mayor Steve DiDonato also attended the event and thanked Stockton for building a campus there.
The building is scheduled to have a “soft opening” for the spring semester in January, with more courses to be added in the fall. The college has been offering classes at St. Joseph High School in the evenings, and those classes will now move to the new site.
Under the terms of the agreement, the Kramers will pay the $250,000 in $50,000 annual installments over five years, beginning in December. The funds are to be used to support renovation of the building at 24-30 Front St., across from the railroad station.
The town owns the building and is coordinating the renovations. Under an agreement with the college, Stockton will pay for the renovations and will take possession of the building once they are completed.
The cost of renovations, furnishings and equipment for the site is about $5 million. Stockton is paying the cost from its investment fund, which currently has more than $95 million, according to the investment committee report presented at the meeting by trustee James Yoh.
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