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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] 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. CompositionThe CRDA has seventeen members as follows: Four year terms
Two year term
Ex officio
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