• CRDA Board Meets to Review Measures

     
    POSTED March 26, 2015
     
    Photo credit: Courtesy of DO AC

At its most recent meeting, the Board of the Casino Reinvestment Development Authority approved a number of measures to improve the city’ lighting and security capabilities and expand funding to several area projects.

CRDA uses casino reinvestments as an impetus for meaningful, positive improvements for New Jersey residents across the state. One such measure their board agreed to at the meeting was a preliminary determination of project elegibility for the Atlantic County Improvement Authority’s Board Walk Interactive Lighting Display Program. The project would feature the installation of 164 LED marine-grade light pole fixtures between Jackson and Vermont avenues; acquisition and installation of 72 pan-tilt-zoom security cameras, electrical conduit, metes and fiber optics to be connected to the Atlantic City Police Department; 110 high-resolution outdoor LED matrix screens along the Boardwalk that would display upcoming local events and provide free Wi-Fi and mobile charging stations; and more.  

“This exciting, state-of-the-art interactive program will be equipped to display upcoming entertainment, events, advertising, announcements and will add to our visitor’s positive experience,” says John Palmier, executive director, CRDA.

The estimated cost of the program is $33.6 million, with private funding in the amount of $20.8 million coming from the ACIA’s sub-tenant, Impactivate. The remaining $12.8 million is being sought from the CRDA.

 Another agreement from the board was the approval of a grant given to the Save Lucy Committee, Inc., for specific marketing and promotional expenses in an amount that will not exceed $25,000 a year for three years.

“Lucy the Elephant is a long-standing regional attraction that brings thousands of visitors to our region each year,” says Palmieri. “Lucy and Atlantic City both complement each other as popular destinations at the southern New Jersey shore.”

The board also voted to update an earlier agreement with Resorts Casino Hotel that provided a fund reservation of $9.38 million from available ad future Investment Alternative Tax obligations for a meeting room expansion project and renovation of 310 hotel bathrooms.

This allows the organization to continue the renovating portion unless future IAT revenues are readily available to them as detailed in the previous agreement. The meeting space is slated for completion by the summer of this year.

Board actions will take effect following the expiration of the Governor’s statutory review period.

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