Board Approves PDPE for IUOE Local 68 Development Project
ATLANTIC CITY, NJ (February 16, 2021) – Today, the Casino Reinvestment Development Authority (CRDA) Board of Directors gave approval for a Preliminary Determination of Project Eligibility (PDPE) for a training and office facility in Atlantic City for the International Union of Operating Engineers (IUOE Local 68).
The IUOE is seeking a $2.25M grant from the Authority of the $4.5M total cost to rehabilitate a property at 1501 Pacific Avenue and create a Training Center that will host over 100 students, faculty, and members. The new center will provide residents of Atlantic City access to train in skilled trades to use directly in industries within Atlantic City.
“The IUOE helps residents find work that supports and sustains their families,” said CRDA Board Chairman Robert Mulcahy. “This development project will allow them to offer accessible training at a more affordable cost to Atlantic City residents.”
Funding from the Authority will pay for the construction costs in rehabilitating the property and will create 60 temporary jobs. Following this PDPE approval, a public hearing will be conducted and the Board will be presented with a request for final project approval.
“This type of development project is perfect for Atlantic City,” said CRDA Executive Director Matt Doherty. “It will turn a vacant building into a training center and office facility that will directly benefit Atlantic City residents.”
In other business today, the Board approved a fund reservation for a grant of approximately $492,000 to Atlantic Cape Community College to provide training programs under the ‘Atlantic City Works Program.’ The Atlantic City Works Program addresses the training needs of Atlantic City residents who are unemployed or underemployed and will assist Atlantic City casino employees by expanding their training to help ensure continued employment and access to promotion opportunities.
The Board also approved a PDPE for the Stockton University Atlantic City Campus Phase II Project. The project, scheduled to begin this year, will include a $10M long-term loan from the CRDA.
About the Casino Reinvestment Development Authority
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, and follow us on Facebook and Twitter.