The New Jersey Casino Reinvestment Development Authority has cleared more than million in loans and grants to prop up non-casino attractions in Atlantic City.
CRDA’s board approved a $100,000, three-year grant to assist with the operational costs of the Absecon Lighthouse, $58,000 to repair the Brighton Park Fountain’s water and electrical systems, and a $1.84 million, no-interest loan to the Walk outlets to help finance the relocation of Ralph Lauren and Michael Kors to larger retail space, according to the Press of Atlantic City.
The Walk relocation is estimated to cost up to $6.9 million and outlet owner Tanger will invest up to $4.6 million in the project.
The board also authorized a $50,000 feasibility study for the opening of a New Jersey Hall of Fame museum at Boardwalk Hall.
“The actions taken today by the CRDA Board will strengthen Atlantic City’s non-gaming tourism offerings and lay the groundwork for additional attractions in the future,” said CRDA Executive Director John Palmieri.
