The deal, still in its early stages, would use a hefty portion of the city’s and county’s annual tax revenue from Revel to finance various improvement projects in the resort’s Inlet section and other areas that would affect the $2 billion megacasino…
Preliminary documents obtained by The Press of Atlantic City show the resort, the Atlantic City Board of Education and the county would each contribute a portion of the $32.5 million they are expected to generate from Revel’s annual property taxes. Normally, that revenue is split in half, with 50 percent for the city and the other half divided evenly between the county and the city school board.
Here’s a look at some of the improvements being asked for.
A draft agreement obtained by The Press of Atlantic City breaks down how the $150 million in infrastructure projects would be allocated. Below are some of the improvements featured in the documents. Officials with Revel and the city have warned that these numbers are likely to be altered.
Boardwalk Reconstruction
Demolition of Boardwalk from Melrose to Caspian avenues
Boardwalk renovation from Rhode Island to North Madison avenues
Price: $36 million
Expansion of Absecon Lighthouse Park
Expand park two blocks to Maine Avenue and the Boardwalk.
Price: $29.5 million
Garden Pier Renovations
Demolish end of pier
Renovate front of pier, Art Center and Historic Museum
Price: $10 million
Road Improvements
Arctic Avenue from Atlantic City Expressway off-ramp to Rhode Island Avenue
Baltic Avenue from Rhode Island Avenue to Atlantic City Expressway off-ramp
Price: $22.7 million
Much of Atlantic City is in need of some kind of repair. Call it gentrification or call it helping a community improve. While this is being asked for by Revel, they won’t be the only people to get something out of these improvements. It’s unfortunate that it takes this kind of business request to clean up the city but I understand why this is bring asked for and why this, or something similar to this, will happen in the next year or so.
The proposal isn’t final, but I can’t imagine it won’t be approved.