Contact: David Zuba, Publicist, Media Relations/Communications
609-343-5980, dzuba@njcrda.com
CRDA BOARD VOTES ON CITYWIDE BOARDWALK INTERACTIVE LIGHTING PROJECT AND PLAN TO PROVIDE ASSISTANCE TO LOCAL LANDMARK
ATLANTIC CITY, NJ – (Wednesday, March 25, 2015) – The Board of the Casino Reinvestment Development Authority (CRDA) approved several measures at its recent meeting that will improve the city’s lighting and security capabilities and extend funding to several worthwhile projects.
The Board agreed to a preliminary determination of project eligibility for the Atlantic County Improvement Authority’s (ACIA) Boardwalk Interactive Lighting Display Program. This project has a total cost of approximately $33.6 million, with private funding in the amount of $20.8 million coming from the ACIA’s sub-tenant, Impactivate, and $12.8 million in gap financing being sought from the CRDA in order to fund the project’s remaining balance, which will require final board approval and a fund reservation.
This project would include the installation of 164 LED marine-grade light pole fixtures between Jackson and Vermont avenues; procurement/installation of 72 pan-tilt-zoom security cameras, electrical conduit, meters and fiber optics that will be connected to the Atlantic City Police Department (ACPD) through 72 street end poles; creation of a digital data storage center for operations of a surveillance/security camera network; removal of 187 existing Victorian-style street lights and retrofitting to LED; removal of 41 existing aluminum cobra-head lamps and light poles; installation of up to four state-of-the-art interactive components at City-approved locations; and 110 high-resolution outdoor LED matrix screens along the length of the Boardwalk that will display upcoming local events and provide free Wi-Fi internet access and mobile device charging stations.
“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,” said CRDA Executive Director John Palmieri.
In other business, the Board voted to modify an earlier agreement with Resorts Casino Hotel that provided a fund reservation of $9.38 million from available and future Investment Alternative Tax (IAT) obligations for a meeting room expansion project and renovation of 310 hotel bathrooms.
This modified agreement will allow Resorts to not proceed with the room renovation portion of the project unless future IAT revenues are readily available to Resorts as outlined in the original agreement. The meeting space portion of the project is anticipated to be completed by the summer of 2015.
Also, as part of the CRDA’s Tourism Marketing Expansion Project, the Board agreed to provide a grant to the Save Lucy Committee, Inc. for specific marketing and promotional expenses in an amount not to exceed $25,000 per year over a three-year term, not exceeding a total of $75,000.
“Lucy the Elephant is a long-standing regional attraction that brings thousands of visitors to our region each year,” said Palmieri. “Lucy and Atlantic City both complement each other as popular destinations at the southern New Jersey shore.”
Additionally, the Board granted a preliminary determination of project eligibility to the International Swimming Hall of Fame Project and approved a fund reservation in an amount not to exceed $100,000 toward a project feasibility study to Grant Leisure, Inc.
Lastly, the Board agreed to approve two recently-adopted redevelopment plans by the City of Atlantic City. The first would allow the former fire station at 535 Atlantic Avenue to be repurposed for “the production and retail/wholesale of craft spirits, related uses and restaurants with entertainment.” The second would repurpose the former Showboat Casino Hotel complex and surrounding area into a University Campus for Stockton University complete with educational facilities, residential housing, retail, restaurants and other related uses in support of a “University City.”
Board actions will take effect following the expiration of the Governor’s statutory review period.
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About the Casino Reinvestment Development Authority (CRDA) www.njcrda.com and www.twitter.com/njcrda
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, investing nearly $2 billion in more than 400 projects statewide since 1984. Under the 2011 Tourism District Act, CRDA’s mission evolved from statewide projects to becoming the state’s key economic development agency for Atlantic City. CRDA responsibilities expanded to include land use regulation, clean and safe initiatives, tourism marketing, ownership and oversight of the Atlantic CityConvention Center and Boardwalk Hall, and partnership with the Atlantic City Alliance to brand and market Atlantic City. The former ACCVA, now a division of CRDA, is the first destination marketing organization in New Jersey to achieve prestigious Destination Marketing Accreditation by the Destination Marketing Association International.
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