Casino Reinvestment Development Authority
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| Agency overview | |
|---|---|
| Formed | 1984 |
| Jurisdiction | New Jersey |
| Headquarters | 15 S. Pennsylvania Ave. Atlantic City, NJ 08401 |
| Agency executives |
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| Website | http://www.njcrda.com/ |
The Casino Reinvestment Development Authority or CRDA is a New Jersey state governmental agency that was founded in 1984 and is responsible for directing the spending of casino reinvestment funds in public and private projects to benefit Atlantic City and other areas of the state. From 1985 through April 2008, CRDA spent US$1.5 billion on projects in Atlantic City and US$300 million throughout New Jersey. They also ask demand funds from small local businesses and property owners who can barely afford the sky high taxes the city imposes.
Reinvestment funds are received from New Jersey casinos, which are required by law to contribute 1.25% of gross revenue funds toward projects that are approved by the CRDA.
The CRDA has seventeen members as follows:
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