Atlantic City and CRDA Partner to Showcase Development Opportunities in Business Seminar

The City of Atlantic City partnered with the Casino Reinvestment Development Authority (CRDA) on June 23^rd for a business development seminar, demonstrating the collaborative approach driving the city’s economic transformation.

The seminar featured presentations from key stakeholders to present a unified vision of Atlantic City as an attractive destination for developers and investors, offering insights into efficiently securing permits and navigating the approval process.  This comprehensive representation underscored the collaborative effort between municipal and state authorities to support development in the region.

The event featured comments from:

• Honorable Atlantic City Mayor, Marty Small Sr.
• Dale Finch, Director of Licensing and Inspections, City of Atlantic City
• Jim Rutala, Consultant to the City of Atlantic City
• Lance Landgraf, Director of Planning and Development, CRDA
• Rob Reid, Land Use Regulation Enforcement Officer, CRDA
• Jaque Howard, Director of Planning and Development, City of Atlantic City
• Clint Walden, Zoning Official, City of Atlantic City
• Anthony Cox, Construction Official, City of Atlantic City

Current and Future Development Landscape

The evening began with insights from Jim Rutala, who painted a picture of a city at an inflection point, where years of strategic planning are converging into tangible opportunity.  Atlantic City is not just recovering, but actively growing with a development pipeline that reflects genuine market confidence.

The timing couldn’t be better for developers and investors.  The city has achieved financial stability while reducing its tax burden, thereby creating an environment that fosters new investment.  Atlantic City is a destination for residents and visitors, with solid fundamentals and a clear upward trajectory.

What makes this momentum particularly compelling is the breadth of development activity.  Institutional anchors are establishing long-term commitments to the city.  Entertainment and hospitality sectors are expanding beyond traditional casino offerings into craft brewing, family entertainment, and experiential dining.  Residential development is responding to genuine market demand, with new housing projects throughout the city.

Atlantic City’s revitalization efforts are further strengthened by four Community Development Corporations (CDCs) that have successfully secured New Jersey Redevelopment Tax Credit (NRTC) funding. These CDCs have demonstrated measurable success in their neighborhood-level development initiatives, contributing to the broader economic and social transformation occurring throughout the city.

CRDA’s Streamlined Vision for the Tourism District

Following the overview of Atlantic City’s development landscape, the focus shifted to the regulatory framework governing Atlantic City’s Tourism District. Landgraf and Reid emphasized CRDA’s commitment to making development efficient within the Tourism District.  CRDA is empowered with comprehensive jurisdiction to promulgate land use regulations, implement development and design guidelines, and spearhead initiatives focused on cleanliness, commercial development, and safety.

The authority’s mandate extends beyond simple regulation—CRDA is actively engaged in undertaking redevelopment projects, coordinating public safety improvements with law enforcement, and managing the comprehensive Tourism District Master Plan.

CRDA’s commitment to efficiency is evident in its operational structure. The Planning, Real Estate, and Development Division serves as the central hub for reviewing and evaluating development proposals within the Tourism District. The authority maintains strategic relationships with local officials, civic leaders, and development specialists to ensure well-coordinated commercial, transportation, industrial, and community land use planning.

Perhaps most encouraging for developers is CRDA’s dedication to expediting the approval process. The 2018 Land Use Regulations represent a significant milestone in creating accessible application procedures. Minor variance applications that qualify can now be approved administratively, eliminating bureaucratic delays that traditionally slow project timelines.

The authority demonstrates its commitment to responsive service by conducting two meetings per month specifically to accommodate applications. Once an application achieves complete status for review, developers can expect a decision within 30 to 45 days on average. For projects requiring only a Certificate of Land Use Compliance, the timeline is even more favorable.

CRDA’s commitment to supporting developers extends beyond streamlined processes to include comprehensive digital resources. Landgraf highlighted the Engage AC platform, their online GIS and data website that serves as a valuable tool for developers and stakeholders. This platform provides essential information specific to Atlantic City, supporting both economic and community development projects throughout the city.

Financial Incentives and Support

The seminar highlighted an extensive menu of financial incentives available to developers, demonstrating the collaborative effort between city, state, and local organizations to support new investment.

New Jersey Economic Development Authority (NJEDA) offers a broad portfolio of economic development tools such as job-based tax credits, real estate and development tax credits, community development programs, and low-interest business financing.

Federal Opportunity Zones Add Appeal

Atlantic City’s development landscape benefits significantly from the federal Opportunity Zones program, which provides substantial tax incentives for private investment through Qualified Opportunity Funds in designated low-income communities. With multiple designated Opportunity Zones throughout the city (accessible through CRDA’s GIS platform), Atlantic City presents an attractive destination for developers and investors seeking to leverage federal capital gains tax advantages.

The program offers three distinct tax benefits for qualifying investments:

1. Reinvested capital gains are deferred from taxation until exit from a Qualified Opportunity Fund or December 31, 2026, whichever comes first.
2. The original capital gains reinvested in Qualified Opportunity Fund investments held for the long term receive a reduction in capital gains tax liability, discounted by 10% at the 5-year mark and by an additional 5% at the 7-year mark.
3. Any new gains from Qualified Opportunity Fund investments held for at least 10 years are permanently excluded from the capital gains tax. These Fund investments can be held through as late as 2047 without losing tax benefits.

Atlantic City developers can maximize project viability by combining federal, state, and local tax incentive programs with Opportunity Zone investments, creating opportunities to stack incentives and enhance financial benefits. The program supports various development types through investments in qualified opportunity zone stock, partnership interests, or business property held by Qualified Opportunity Funds.

Building Momentum Through Partnership

The seminar reflected coordination between the Atlantic City Government, CRDA, state agencies, and community development organizations.  Their shared commitment to streamlined processes, while maintaining appropriate oversight, creates opportunities for efficient project completion without compromising quality or compliance.

The message was clear:  Atlantic City is open for business, equipped with the tools, incentives, and partnerships needed to support successful development projects in New Jersey’s premier coastal destination.