Atlantic City’s Casino Reinvestment Development Authority Funding Discussion Heats Up

ATLANTIC CITY — The Casino Reinvestment Development Authority (CRDA), a key funding source for Atlantic City’s growth, has seen a shift in its role for the past six years due to state legislators redirecting funds to pay off the city's debt from casino tax appeals. State Sen. Vince Polistina, R-Atlantic, is now pushing to return a portion of the investment alternative tax (IAT) fund to the CRDA, as competition from New York City casinos is poised to increase. He argues that the CRDA needs resources to continue its redevelopment work in Atlantic City. The IAT, which comes from taxes on gaming revenues, has funded projects from hotel renovations to local infrastructure. However, funds have recently been routed to pay down the city’s debt. In 2023, Atlantic City received nearly $68.2 million from the IAT to address this debt. Polistina emphasizes that reinvesting funds into the CRDA would benefit both the city and the surrounding region, with projects like expanding the Save-A-Lot store at Renaissance Plaza and improving social services at the Atlantic City Rescue Mission in the works. Discussions on how to best utilize these funds are ongoing, with the goal of reaching a consensus by November 2025.