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CRDA: November Board Meeting '17

CRDA: November Board Meeting '17


Karen Martin

At its monthly meeting yesterday, the Board of the Casino Reinvestment Development Authority (CRDA) adopted new land use regulations for the Atlantic City Tourism District that complement the newly adopted Master Plan for the District.  The new regulations will be submitted to the New Jersey Office of Administrative Law for publication in the New Jersey Register.  

“The Board remains committed to making the Tourism District a place where both residents and business owners can thrive,” said CRDA Board Chairman Robert Mulcahy. “In addition to streamlining zoning, encouraging development, and stimulating investment, these new land use rules further deliver on our commitment to our mission and our responsibility for the Tourism District Master Plan.”  

In other actions, the Board authorized Spectra Venue Management, Facilities Manager for Historic Boardwalk Hall and the Atlantic City Convention Center, to award a $10.5 million contract with Network Construction of Pleasantville, NJ, to perform a full scale renovation of the lobby at Boardwalk Hall, including a replacement of the escalator, major infrastructure repairs, and reimagined event space.  The project is being funded by proceeds of Luxury Tax Revenue Bonds, Series 2014, which are specifically designated for capital maintenance projects at Boardwalk Hall and the Atlantic City Convention Center.  

“Historic Boardwalk Hall and the Atlantic City Convention Center are world-class venues,” said CRDA Executive Director Chris Howard.  “These much needed renovations will refresh and activate unused areas of the lobby, provide a home for and showcase the extraordinary history of this destination city and make the space more inviting for artists, residents and the public to visit.”  

The Board also gave final approval of the 2018 Special Improvement Division (SID) budget, which enables SID to keep the Tourism District clean and safe for Atlantic City visitors.  

Additionally, the Board gave preliminary approval to release IAT funds previously deposited with CRDA by the former owners of Trump Plaza for a demolition project, which would remove the former main tower of Trump Plaza and the connecting bridge to Historic Boardwalk Hall to make way for future development on that site.  The CRDA will now conduct a public hearing where representatives of the Plaza will deliver a briefing on the scope of the project, including the benefits of demolition of this space.  The Board will then assess the strategic value of this project to the City and determine whether to release these funds back to the Plaza for this purpose.



About the CRDA:
The only agency of its kind nationwide, the CRDA has used Atlantic City casino reinvestments as a catalyst for meaningful, positive improvement in the lives of New Jersey residents since 1984.  Under the 2011 Tourism District Act, the Authority's mission evolved from statewide projects to becoming the state's key economic development agency for Atlantic City.  CRDA's expanded responsibilities now include land use regulation, tourism marketing and clean and safe initiatives. The CRDA also oversees Historic Boardwalk Hall (the leading entertainment venue of its size in the country) and the Atlantic City Convention Center.  In total, CRDA has invested nearly $2 billion in more than 400 projects statewide, of which $1.8 billion has been invested in Atlantic City, spurring business investments and expansions, and creating permanent jobs in the process. For more information about CRDA and our projects, visit www.njcrda.com.  Follow us on Twitter at www.twitter.com/njcrda.