CRDA To Auction $15 Million Of Banked Atlantic City Real Estate

The Casino Reinvestment Development Authority is preparing to sell off some of its Atlantic City real estate holdings, according to documents filed on its website.

“The CRDA seeks an experienced professional firm to market and auction surplus real property owned by the Authority and no longer necessary for its operations,” says the request for proposal. The real estate to be auctioned off ranges from a half-block package in the Inlet with a valuation of $6 million, to a $300 non-buildable alley on North Massachusetts Ave.

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Amazon, Miss America, Gilchrist – Monday’s Roundup

NJ Spotlight thinks New Jersey has a shot at luring Amazon, seeking a home for its second corporate headquarters, and “even Atlantic City” could draw interest. AC’s attraction would be partly because it’s a designated growth zone and companies making investments in the city are eligible for more tax breaks from the state’s Economic Development Authority.

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The Optimist

William K. Cheatham attends most of the meetings of the City Council of Atlantic City. He attends the board meetings of the Casino Reinvestment Development Authority. He is president of the Board of Trustees of the Atlantic City Free Public Library, a member of the Shade Tree Committee and an alternate on the board of the Atlantic City Municipal Utilities Authority. He was active in the First Ward Civic Association and was a regular at the meetings of the city Taxpayers Association (which reviewed the municipal budget) but those organizations no longer assemble on a regular basis. He’s a former member of the county construction board.

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Op-Ed: It Seems To Me

As an Atlantic City and Atlantic County resident there are things I’ve noticed:

It seems to me, the state takeover did not become unconstitutional within the county offices until it impacted negatively on the amount of money the county would receive.  What was it before? It seems to me, people in Atlantic City are getting tickets and don’t even see the meters. To many, they don’t look like meters, and aren’t at every spot. We should  take lessons from successful towns up and down the coast and suspend parking fees in the winter, with possible exceptions, like the walk area, or holiday weekends. In winter, we inhabit a virtual ghost town and have few visitors.

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Stockton In Talks For Atlantic City’s Bader Field

Stockton University is in “preliminary talks” to develop* some or all of Atlantic City’s Bader Field, according to people with knowledge of the matter. If the university were to occupy the site, it would further extend Galloway-based Stockton’s reach in Atlantic City, where it is building a residential campus, parking garage and academic center scheduled to open in 2018. The university is considering using the Bader Field site for a marine sciences and resiliency center, one of the people said. University President Harvey Kesselman discussed the idea as part of wider plans for the university in a presentation to Stockton foundation board members last week. Kesselman has had talks with Atlantic City Mayor Don Guardian about buying* some of the site, one other person said.

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Why Did The Casino Association Ask A Norcross To Lobby CRDA?

The Casino Association of New Jersey last year hired Philip Norcross, brother of Democrat power-broker George, to lobby the Casino Reinvestment Development Authority (CRDA) on the topic of “economic development,” according to lobbying records. In recent years, Atlantic City casinos have received millions of dollars from CRDA for investments in their own properties, but last year, as part of the city takeover legislation, CRDA saw that chunk of its budget diverted to pay off city debt. A spokeswoman for The Casino Association of New Jersey, which includes all seven of Atlantic City’s remaining gaming properties, declined to give any details on its lobbying activity. A spokeswoman for CRDA did not immediately respond to a request for comment and Norcross did not return messages left on Friday. The lobbying records show that Norcross’ Optimus Partners also lobbied the legislature on behalf of the Casino Association on the topic of the takeover legislation.

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Twilight Zone

 What’s Keeping the South Inlet Empty? In mid-August of last summer a real estate investor from Florida named Bruce Pender bought a small plot of land in the South Inlet neighborhood of Atlantic City. He paid $25,000 to acquire 206 S. Vermont Avenue, tax records show. The old owner, Seaview Property Development of Turnersville, had been sitting on the land since 2005. In real estate terms, this was one of the rarest commodities going: beachfront land about an hour’s drive from Philadelphia—two and a half hours (give or take) from New York City.

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