Ask Reggi Your Question Now
Can you summarize 19K NJAC Chapter 65?
CASINO CONTROL COMMISSION/CASINO REINVESTMENT DEVELOPMENT AUTHORITY > CASINO REINVESTMENT DEVELOPMENT AUTHORITY
Short Summary
The legal document provides definitions for various terms used in the New Jersey Administrative Code related to the Casino Reinvestment Development Authority. It clarifies the meanings of terms such as ‘acquisition value,’ ‘applicant,’ ‘approved project,’ ‘appurtenant facilities,’ ‘Authority,’ ‘Bonds,’ ‘Contract,’ ‘Corridor Region,’ ‘Cost,’ ‘Determination of eligibility,’ ‘Equivalent investment,’ ‘Executive Director,’ ‘Hotel development project,’ ‘Initial contract,’ ‘Licensee,’ ‘Neighborhood Strategy Areas,’ ‘Parking proceeds,’ ‘Parking proceeds bonds,’ ‘Participant,’ and ‘Project.’ The document also mentions the creation of the Atlantic City Expansion Fund and the Casino Capital Construction Fund. It has been amended multiple times to update and refine the definitions and terms used in the New Jersey Administrative Code. The legal document also covers contracts between the Casino Reinvestment Development Authority and licensees, including the obligations of licensees to purchase bonds and the termination provisions of the contracts. It addresses deferral of bond payments, default and remedy provisions, allocation of bonds, payment of taxes, and the option to purchase bonds or other obligations of the State. The legal document also governs the requirements for loans to public bodies, specifying the conditions under which the Casino Reinvestment Development Authority can make loans to other agencies or authorities. It outlines the necessary agreements and legal opinions required for such loans. The legal document further clarifies the eligibility of investments or contributions made by licensees, specifying that investments made prior to the effective date of the Act will be determined based on the rules of the New Jersey Casino Control Commission. It also emphasizes that final determinations made by the Commission before the effective date of these rules will not be altered. The legal document provides details on the administrative fees charged by the Casino Reinvestment Development Authority, including the initial application fee and ongoing fees for approved projects. It mentions the criteria for waiving fees for governmental entities or non-profit organizations. The legal document also covers contracts for architectural, engineering, and land surveying services, specifying the compensation and requirements for procurement proceedings. It outlines the authority of the Casino Reinvestment Development Authority to grant waivers from the provisions of the Act and the rules, as long as they are consistent with the statutory purposes of the Authority. The legal document also provides procedures for protesting the solicitation or award of a contract by the Casino Reinvestment Development Authority, including the submission of written protests and the review and adjudication process. Overall, the legal document covers various aspects of the Casino Reinvestment Development Authority’s operations and provides guidelines and procedures for different activities and transactions involving the Authority.
Whom does it apply to?
The legal document applies to the Casino Reinvestment Development Authority (CRDA), licensees, public bodies, professional firms providing architectural, engineering, and land surveying services, and parties seeking waivers or protesting contract solicitations or awards by the CRDA.
What does it govern?
The legal document governs the Casino Reinvestment Development Authority (CRDA) and its operations, including the application process, eligibility determination, priority, and hearing procedures for proposed projects seeking funds from the CRDA. It also covers contracts between the CRDA and licensees, loans to public bodies, eligibility of investments or contributions made by licensees, administrative fees charged by the CRDA, contracts for architectural, engineering, and land surveying services, waivers from the provisions of the Act and the rules, and procedures for protesting the solicitation or award of a contract by the CRDA.
What are exemptions?
No specific exemptions are mentioned in the legal document.
What are the Penalties?
No specific penalties are mentioned in the legal document.
Jurisdiction
New Jersey