Both Atlantic City and Atlantic County have been advised that they will have to collectively pay $4.8 million over four years in a previously undisclosed tax settlement with the owners of the Hard Rock Atlantic City casino.
The state of New Jersey has informed the city and county of the settlement, which was not part of previous settlements or subject to legislation passed by the state to allow casinos to make payments in lieu of taxes in exchange for ceasing tax appeals. The Hard Rock was not originally part of that legislation because it had closed as a casino in 2016. Hard Rock re-opened the casino in June.
Department of Community Affairs spokeswoman Lisa Ryan told the AP that there are no remaining tax appeal issues after the Hard Rock appeal.
Also, the CRDA Board of Directors has approved moving forward with exploratory steps of the AtlantiCare Health Park Project.
The proposed three-story, 65,000-square-foot, $38 million health park would be located at the corner of Ohio and Atlantic avenues near the current Atlantic City Regional Medical Center hospital. The new facility would have dialysis programs, an urgent care center, and a medical education program with residencies for medical students. The CRDA would provide $15 million, as well as the $3 million lot the complex will be built on, according to NJ.com.
CRDA officials hope it will anchor a new zone along with the recently opened Stockton University satellite campus in the city for educational and medical facilities. The authority is hoping to diversify the resort’s economy away from an over reliance on casinos.
