Route 40 (https://rtforty.com/tag/economic-development/)
Atlantic County isn’t known for its small businesses or entrepreneurs. But in between the casinos, small business owners are working together to create new services and products.
A luxury condo project in the Chelsea section of Atlantic City is in foreclosure proceedings, according to property documents filed with the Atlantic County clerk.
The Office of the State Auditor has begun scrutinizing the books and records of the Casino Reinvestment Development Authority, an official told Route 40 on Tuesday. CRDA, an Atlantic City-based government agency responsible for investing casino taxes and other government funds for economic development, has spent $2 billion on state-wide projects since its 1984 inception but it has rarely been put under the microscope. A spokeswoman for CRDA declined to comment on the audit. Some of its biggest projects in the last few years have paid for casino expansions, including $15 million spent on the Borgata night club and private pool project last year and almost $19 million spent on Tropicana’s boardwalk “enhancement” in 2014. Adding to its influence in Atlantic City, CRDA has been tasked with land use regulation and enforcement in the Tourism District (which includes the casino areas) since 2011.