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Atlantic City Agency Chooses Casino Revitalization Projects

17 September 2001

ATLANTIC CITY, New Jersey –– As reported by the Associated Press: ``The city's Boardwalk, Marina District and other areas will get a dramatic facelift through projects that will replace aging or demolished structures with new restaurants, entertainment venues and retail shops.

``The half-dozen projects, approved by the state Casino Reinvestment Development Authority, will be funded by tax rebates to the casinos under the state's newly created Urban Revitalization Incentive Program.

``The program should help casinos here become more like those in Las Vegas, which draw tourists with spectacular entertainment, fancy restaurants and upscale shops as well as gambling.

``In exchange for getting to use millions in sales and luxury taxes they collect to fund work around their casinos, those whose projects were approved will be required to use $20 million each of their own revenues to fund redevelopment projects in urban areas elsewhere in New Jersey.

``…Communities already picked for revitalization projects include Newark, which will get $20 million worth of redevelopment; Trenton and Camden, $20 million each; New Brunswick and South Amboy, $10 million each; and Wildwood, Vineland, Millville, Bridgeton and Glassboro, which will split $20 million. Another $20 million will go to one or two cities to be chosen soon, Kennedy said…"

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