Extends the duration of annual incentive grants for developers of district projects under the Casino Reinvestment Development Authority Urban.
This bill extends certain provisions of the Casino Reinvestment Development Authority Urban Revitalization Program (incentive program) administered by the Casino Reinvestment Development Authority (CRDA). The bill allows developers of district projects to receive annual incentive grants for a maximum of 40 years following the completion of the project. It also increases the limit on the combined total annual incentive grants a developer may receive during this period to an amount equal to five times the approved cost of the district project.
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