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Trenton, NJ – Governor Chris Christie welcomed action taken by the Casino Reinvestment Development Authority (CRDA) at its April 19 meeting, calling it significant progress in the implementation of a comprehensive plan to reform and revitalize Atlantic City and its gaming and tourism industries. The agency approved 11 measures that implement key elements of legislation signed by Governor Christie in February, including authorization of the Atlantic City Tourism District.
“This administration is strongly committed to helping put Atlantic City back on the map as a premier tourism and gaming destination,” said Governor Christie. “The action taken by the CRDA is the kind of progress needed to chart a new course that brings economic growth, job creation and prosperity to the casino industry, city residents, the South Jersey region, and the State of New Jersey as a whole.”
Building upon steps already taken by Governor Christie to stabilize the city’s finances and create jobs through new business investment, the 11 measures approved by the CRDA include:
· Creation of the tourism district
· Establishing a new Special Improvement District in the CRDA
· Establishing the AC Tourism District Advisory Commission
· Approving the negotiation and execution of a public private partnership agreement with the casino industry
· Creation of AC Tourism District and Community Development Fund
· Establishing the Convention Center Division in the CRDA
· Establishing the Community Development Partnership Division
· Awarding a professional services contract to Heidrick and Struggles for Executive Search Consulting Services
· Establishing a land use regulation and enforcement division
· Creation of interim land use application and hearings procedure
· Amending the CRDA operations budget
Governor Christie signed S-11 and S-12 in February, authorizing the creation of a tourism district within Atlantic City, with the charge of improving public safety, public health, marketing and infrastructure projects and improvements, as well as providing for the reform and modernization of New Jersey's casino regulatory structure. At that time, he also announced the restart of the Revel Casino project, clearing the way for completion of the $2.8 billion project and thousands of new jobs.
In January, Governor Christie paved the way for new investments in Atlantic City by signing S-1866, providing for the issuance of two new casino licenses for facilities with a lower minimum bedroom requirement of 200 rooms rather than the 500 previously mandated.
In October 2010, the Governor announced that Atlantic City had agreed to state oversight of the city’s troubled finances. Following that, the Casino Association of New Jersey announced in October, the formation of the Atlantic City Alliance, representing a private sector commitment to devote $30 million or more annually to promoting Atlantic City as a destination resort and supporting the revitalization of Atlantic City.