Casino Reinvestment Development Authority

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State of New Jersey
Casino Reinvestment Development Authority
Seal of New Jersey.svg
Agency overview
Formed 1984
Jurisdiction New Jersey
Headquarters 15 S. Pennsylvania Ave.
Atlantic City, NJ 08401
Agency executives
  • Acting Chair Robert Mulcahy, Chairman
  • Christopher M. Howard, Executive Director
Website http://www.njcrda.com/

The Casino Reinvestment Development Authority or CRDA is a New Jersey state governmental agency that was founded in 1984 and is responsible for directing the spending of casino reinvestment funds in public and private projects to benefit Atlantic City and other areas of the state. From 1985 through April 2008, CRDA spent US$1.5 billion on projects in Atlantic City and US$300 million throughout New Jersey. They also ask demand funds from small local businesses and property owners who can barely afford the sky high taxes the city imposes.[1]

Reinvestment funds are received from New Jersey casinos, which are required by law to contribute 1.25% of gross revenue funds toward projects that are approved by the CRDA.

Composition[edit]

The CRDA has seventeen members as follows:

Four year terms[edit]

  • Six members of the public are appointed by the Governor and confirmed by the Senate
  • Two members recommended by the President of the Senate are appointed by the Governor
  • Two members recommended by the Speaker of the General Assembly are appointed by the Governor

Two year term[edit]

  • Two casino representatives are appointed by the Governor

Ex officio[edit]

References[edit]

  1. ^ "30 Years of Casino Gaming", The Press of Atlantic City, accessed June 7, 2008
  2. ^ CRDA board structure Archived August 11, 2009, at the Wayback Machine., www.njcrda.com, accessed August 14, 2009

External links[edit]