Atlantic City Convention Center and Boardwalk Hall to Receive Upgrades
October 22, 2014Boardwalk Hall and the Atlantic City Convention Center will receive more than $100 million in upgrades as part of a $253.3 million bond offering that will be sold beginning October 21 by the state agency that oversees the city’s tourism and redevelopment, according to a news report in the Press of Atlantic City.
The Casino Reinvestment Development Authority is floating the bonds to retire some existing debt, make improvements to both buildings and settle a long-running lawsuit involving historic tax credits for the 85-year-old Boardwalk Hall.
Once the bonds are sold to investors, the CRDA will officially take charge of Boardwalk Hall and the convention center, a move that has been planned ever since the agency began overseeing the then newly created Atlantic City Tourism District in 2011.