A nearly century-old amusement boardwalk along the beach in Ocean City, New Jersey, was put up for auction on Jan.21 because the owner, who is also the resort’s mayor, has defaults on $ 8 million in loans.

But Mayor Jay Gillian, who along with his wife owns Gillian’s Wonderland Pier, said in a statement to NBC10 that he had secured new funding and that the property would not be auctioned off by the Cape May County Sheriff. .

“I want to reassure our loyal guests that Wonderland Pier will be open for business, as usual, for the 2021 season,” Gillian said in a statement.

He said the COVID-19 pandemic that has spanned the entire 2020 holiday season on the Jersey Shore has hit the pier hard.

“Like many businesses across the country, Gillian’s Wonderland Pier has been deeply affected by the COVID-19 shutdown and restrictions,” the statement said. “But we got funding and we look forward to another WONDERFUL summer at America’s largest family resort.”

Yet much of the debt, according to court records, was accumulated before the pandemic.

Court records from the state’s Superior Court foreclosure office show that the Gillians owe First Priority Bank about $ 8 million in mortgage debt. Judge Michael J. Blee ordered on January 21 that the property be auctioned off in order to settle the debt.

A lawyer for the bank made no comment.

Gillian did not provide details to NBC10 about the new funding.

The Amusement Pier has been operated and managed by the Gillian family since 1929.