ATLANTIC CITY, NJ (April 16, 2013)– Bolstering the Christie Administration’s commitment to making Atlantic City a world-class destination tourism resort, the Casino Reinvestment Development Authority (CRDA) Board approved several projects introduced by city and casino partners on Monday.
CRDA Board action included the approval of an historically successful event for Atlantic City, the Miss America Pageant, which received unanimous Board support for $4.9 million in funding. The three-year contract represents the CRDA contribution to bringing the Miss America Pageant back to Atlantic City. Preliminary economic indicators illustrate that in just year one, the Miss America Pageant will have an economic impact in excess of $40 million dollars.
The Board also approved Resorts Atlantic City’s proposed amendment to their Margaritaville project, which would allow for improvements to the current streetscape element along North Carolina Avenue. The CRDA Board approved the use of approximately $141,000 in funds available in its Atlantic City Housing and Community Development Investment Obligations funds to soften the landscape with enlarged planters and new plant materials, as well as replacement of current street light fixtures with new and decorative lighting.
“These improvements along North Carolina Avenue will create a more welcoming and safer experience for visitors to the Boardwalk and the new Margaritaville and LandShark Bar attractions,” according to CRDA Board Chairman James Kehoe. The LandShark Bar & Grill is currently on schedule to open for Memorial Day Weekend, 2013.
The Tropicana also received approval for just over $1.1 million in CRDA funds for Boardwalk facade renovations. The new facades are one facet of the $6 million renovation which the Tropicana is undertaking. Elements in this phase one of the Tropicana project include the creation of seven new dining establishments, one being a Chickie & Pete’s, new signage and decorative lighting. The approval of the $1,156,000 in funds comes from the Boardwalk Revitalization Fund and leaves a balance of $1,539,000 for Tropicana’s future use.
Today’s final action approved $25,000 in Entertainment Grant funds to the Greater Atlantic City Chamber of Commerce for the 11th Annual “Thunder Over The Boardwalk” Air Show. According to a market study conducted by Atlantic Cape Community College, the 2012 AC Air Show reported over 900,000 attendees with an economic impact of approximately $42 million and an indirect economic impact in excess of $80 million. It’s estimated nearly one-third of attendees came to Atlantic City specifically for the Air Show. This year’s air show will be held on June 26th and will feature a wider variety of acrobatic and show acts than in previous years. The “Salute to the Military Parade” will take place on Monday, June 24th on the Boardwalk as a part of the planned Land, Sea and Air festivities in Atlantic City throughout the month of June.
Board actions will take effect following the expiration of the Governor’s statutory review period.