POINT PLEASANT BEACH - A tentative deal has been reached between Point Pleasant Beach and Jenkinson's.

Jenkinson's has agreed to give $1 million  toward boardwalk repairs in the Borough, but there's a catch. The Borough must then repeal its midnight bar closing law.

Mayor Vincent Barrella says, "It's obviously a win-win for the Borough, the taxpayers, and Jenkinson's." Toby Wolf, a spokesperson for Jenkinson's told News 12 New Jersey, "It's extremely crucial to our business as well as the local economy, the state economy, with tourism being such a huge industry. It's also something I think the town needed, the residents, to work toward healing, a step forward to move in the right direction."

This past summer, the Borough tried closing bars at midnight, but in the final hours the state came in and allowed bars to stay open until 2 a.m.

The mayor says new parking restrictions that started last summer seemed to control the problem the Council was trying to address.

He says the parking restrictions kept noisy bargoers out of neighborhoods.