New Jersey’s Casino Reinvestment Development Authority (CRDA), the agency charged with spending a portion of Atlantic City casino revenue taxes for local improvement projects, has given preliminary approval to help fund the transformation of a former bank building into a training center offering low-cost job training programs to Atlantic City residents, and to create a free job training program at the Atlantic Cape Community College.
The authority gave preliminary approval to contribute $2.25 million to a $4.5 million project that will renovate a former bank building to create a training center, along with offices for the International Union of Operating Engineers (IUOE Local 68).
The Preliminary Determination of Project Eligibility (PDPE) for the training and office facility is for a $2.25 million grant to the union to create a training center that will host over 100 students, faculty, and members. The new center will provide residents of Atlantic City access to train in skilled trades to use directly in industries within Atlantic City.
“The IUOE helps residents find work that supports and sustains their families,” said CRDA Board Chairman Robert Mulcahy. “This development project will allow them to offer accessible training at a more affordable cost to Atlantic City residents.”
Funding from the authority will pay for the construction costs in rehabilitating the property and will create 60 temporary jobs. Following this PDPE approval, a public hearing will be conducted and the board will be presented with a request for final project approval.
“This type of development project is perfect for Atlantic City,” said CRDA Executive Director Matt Doherty. “It will turn a vacant building into a training center and office facility that will directly benefit Atlantic City residents.”
Along with the union training center, the board approved fund reservation for a grant of $492,780 to create a free job training program at Atlantic Cape Community College for Atlantic City residents under the “Atlantic City Works Program.”
The Atlantic City Works Program addresses the training needs of Atlantic City residents who are unemployed or underemployed and will assist Atlantic City casino employees by expanding their training to help ensure continued employment and access to promotion opportunities.
The board also approved a PDPE for the Stockton University Atlantic City Campus Phase II Project. The project, scheduled to begin this year, will include a $10 million long-term loan from the CRDA.
