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Action, in part, sets up a high security gaming and tourism district

Gov. Chris Christie Monday signed into law legislation that attempts to enact his plans to revitalize Atlantic City's ailing gaming and tourism industries and set the region on a course for economic growth.

Citing the significance of Atlantic City's regional economy to the state, the governor put forward what he sees as a comprehensive plan in July aimed at meeting the challenges facing Atlantic City's gaming and tourism industries.

The bills signed by Christie at a ceremony in Atlantic City, S-11 and S-12, attempt to set the stage for Atlantic City to once again be a destination resort and an engine of job creation and economic growth.

S-11 authorizes the creation of a tourism district within Atlantic City, with the charge of improving public safety, public health, marketing and infrastructure projects and improvements; S-12 provides for changes to the regulatory structure of the 11 casinos.

"The challenges faced today by the Atlantic City tourism and gaming industries have been a long time in the making, and significant steps are needed to stop the decline and set a new course of economic growth, job creation and return Atlantic City to the ranks of the best destinations in the world. But, it can and must be done for the economic health of New Jersey as a whole," Christie said.

"Since we announced our plan for reform just over six months ago, we have already taken steps to secure that future — to stabilize the city's finances and create jobs through new business investment," the governor added. "Today, we are going much further to signal to businesses, to the public and to the people who call Atlantic City home that a new, brighter and more prosperous future is coming again."

The signing took place at the site of the Revel casino resort, a 53-story, 6.3 million square foot, 3,800 room hotel and casino that, upon completion, will be the biggest such property in Atlantic City.

Christie also announced the approval of $260 million in tax-increment financing by the state Economic Development Authority that will support much needed infrastructure improvements in the South Inlet neighborhood adjacent to the Revel development and pave the way for completion of the $2.5 billion project and 5,500 new jobs.

The Economic Development Authority Tuesday approved a new policy requiring as a condition of any tax increment financing package of $50 million or more, including the Revel financing approved, that the state receive success reimbursement payments from the project commensurate with the extent of state financial participation.

S-11 implements several elements of Christie's revitalization plan for Atlantic City. The bill authorizes the state Casino Reinvestment Development Authority (CRDA) to establish a tourism district within Atlantic City. Within the territorial limits of the tourism district, CRDA will be authorized to establish land use regulations, implement a tourism district master plan, promote public health and safety initiatives, advance commercial development, undertake redevelopment projects and institute infrastructure improvements. The bill also provides for the merger of the Atlantic City Convention and Visitors Authority into the CRDA.

The CRDA will also enter into a public-private partnership with a not-for-profit consisting of a majority of the casino licensees, through which they will commit funds totaling $30 million annually for the development and implementation of a marketing program aimed at promoting Atlantic City.

In October, the Casino Association of New Jersey announced the formation of such a non-profit and the commitment of the casino industry to contribute at least $30 million annually to promote Atlantic City and support the tourism district.

S-11 directs the state attorney general and superintendent of State Police, in consultation with the mayor of Atlantic City and the police, to develop a public safety plan for the city to be implemented by a district commander appointed by the superintendent. The plan will include the development of law enforcement best practices, the procurement and deployment of new technology and equipment, and the development and implementation of a coordinated law enforcement strategy to address public safety concerns both inside and outside of the tourism district.

S-12 changes the state's regulatory structure for casinos by "modernizing, streamlining, and eliminating duplication in the regulatory statutes, many of which were authored more than 30 years ago."