CRDA Continues Commitment to World Class Destination & Event Venues
Board Approves $64 Million Capital Budget for AC Convention Center & Boardwalk Hall
ATLANTIC CITY, NJ – (Wednesday, December 20, 2017) – Capping off a strong 2017, the Board of the Casino Reinvestment Development Authority (CRDA) approved a 2018 Capital Improvement Budget of approximately $64 million for facility upgrades of Boardwalk Hall and the Atlantic Convention Center. This budget is funded by proceeds of Luxury Tax Revenue Bonds issued in 2014 that are restricted for these infrastructure projects.
“This budget approval for capital improvements to our buildings affirms our commitment to the CRDA’s world-class venues, the Atlantic City Convention Center and Historic Boardwalk Hall,” said CRDA Chairman Robert Mulcahy.
The Board also approved the following:
- Sponsorship for the Atlantic City Marathon Race Series, the third oldest continuing marathon in the United States. The Authority will enter into a public-private partnership agreement with the Jewish Community Center and a supplemental fund reservation in the amount of $25,000.
- Designation of CRDA-owned surplus property outside the Tourism District. CRDA will dispose of these properties in 2018 to allow for interested parties to purchase and develop these properties.
- Award of a contract to ABM to keep ambassadors in the Tourism District and specifically on the Boardwalk as part of the CRDA’s mission to keep the Tourism District clean and safe.
- Measures to allow CRDA to fully enforce and implement the newly authorized land use regulations in the New Year.
“The Board actions taken this month demonstrate the CRDA’s commitment to the Tourism District and to our destination. By investing available funding in world class events and public-private partnerships such as the Atlantic City Marathon Race Series and continuing the successful Special Improvement Division’s Ambassador program, CRDA continues its mission to play a key role in moving Atlantic City forward in 2018,” said CRDA Executive Director Chris Howard.
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