New Jersey state Sen. Vince Polistina thinks the time is right to resume supplying funding through the Casino Reinvestment Development Authority (CRDA) to help with projects involving Atlantic City casinos and other matters across the state. The CRDA has not been distributed funding in six years because the money has been funneled into dealing with Atlantic City’s debts instead.
Talks have been heating up in regards to the payment in lieu of tax (PILOT), while Atlantic County and the state settled on a lawsuit stemming from 2021. The county received $15 million in the settlement agreement.
With Atlantic City is falling into place, Polistina believes it’s a good time to re-invest into the CRDA.
