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Casino Reinvestment Development Authority

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.[1]

State of New Jersey
Casino Reinvestment Development Authority
Seal of New Jersey.svg
Agency overview
Formed1984
JurisdictionNew Jersey
Headquarters15 S. Pennsylvania Ave.
Atlantic City, NJ 08401
Agency executives
  • Robert E. Mulcahy III, Chairman
  • Matt Doherty, Executive Director
Websitehttp://www.njcrda.com/

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.

Contents

CompositionEdit

The CRDA has seventeen members as follows:

Four year termsEdit

  • Six members of the public are appointed by the Governor and confirmed by the Senate
  • Two members recommended by the President of the Senate are appointed by the Governor
  • Two members recommended by the Speaker of the General Assembly are appointed by the Governor

Two year termEdit

  • Two casino representatives are appointed by the Governor

Ex officioEdit

ReferencesEdit

  1. ^ "30 Years of Casino Gaming"[permanent dead link], The Press of Atlantic City, accessed June 7, 2008
  2. ^ CRDA board structure Archived August 11, 2009, at the Wayback Machine, www.njcrda.com, accessed August 14, 2009

External linksEdit