On November 21, the Casino Reinvestment Development Authority, CRDA, will vote to spend $11 million on a variety of, what they consider, important Atlantic City projects. With limited funds, can you guess which critical projects will get the financial assist from this NJ State controlled agency?
- Better lighting to reduce rising crime on Atlantic and Pacific Aves? No.
- More ACPD cops on the beat? No.
- Dramatically beef-up public safety? No.
- Move drug-rehab & needle exchanges to OUTSIDE the tourism district? No.
- Efforts to clean-up Tennessee Ave crime? No.
- Re-training of those recently downsized? No.
- Complete the paving of Atlantic & Pacific Ave.? No.
- Encourage ex-offender housing OUTSIDE of Tourism District? No.
- Residential tax-relief? No.
- Increase awareness of non-casino attractions? No.
- Small business & non-casino business incentives? No.
How CRDA will spend $11 million:
- Convention Center Exhibit Hall Chairs & Carts – Authorization to purchase 2,400 chairs, 9 hand carts and 18 storage carts for exhibit hall – $291,614
- Boardwalk Hall Lobby Renovation – $10,560,447 for general construction services. Replace escalators, add a set of stairs to the main lobby, add interactive video boards, build place for historic artifacts from Atlantic City Historical Museum
- Unspent Project Fund Reservations – Approval to release and reallocate unspent project funds
The $11 million is expected to be completely spent by the CRDA by Fall 2018.
Recent Atlantic City Boardwalk Hall expenditures:
- 2001 – $90 million face-lift
- 2017 – $4.2 million for general repairs
- Upgrade four sets of bathrooms
- $2.3 million in roof repairs
CRDA may help pay for TRUMP PLAZA Demolition?
Carl Icahn is the owner of the former Trump Plaza. He wants the CRDA to help pay for demolition of the once great property. Note: Casinos often get the CRDA to return tax monies to the casinos, instead of funds being used for what they were originally intended for: betterment of the Atlantic City community.
IAT: Investment Alternative Tax is a 1.25 % tax on each casino’s annual gross gaming revenue. It’s supposed to be used for non-gaming expansion / improvements, or other appropriate CRDA projects. Due to the NJ State takeover of Atlantic City, these funds are now used to pay down AC debt. The CRDA, Casino Reinvestment Development Authority, will consider this request on Nov 21.
Trump Plaza closed in September 2014. Plans are set to have it demolished in Spring 2018. The adjacent former Holiday Inn tower and the parking garage will stay. The knockdown of Trump Plaza will create premium oceanfront property, and would connect the Boardwalk to the Tanger Outlets shopping area.
The CRDA board meeting is 2 p.m. It’s open to the public.
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