According to the The Press of Atlantic City NJDOT will be conducting a feasability to study to extend the Ocean City Rail Trail from 36th to 49th Streets. The rail trail will be extension of Bike Route OC1 connecting the Haven Avenue Bicycle Boulevard which begins at 9th Street to the multi-use trail at Corson's Inlet (at the south end of the island).
The trail is proving to be controversial because it uses an old rail bed built on top of a wetland. There is a second proposal if the project is killed that may be equally controversial. That one moves the bike lanes on adjacent West Avenue on to the west side and create a two way cycletrack.
More info on these proposals can be found on the Bike Ocean City website.