NJ taxpayers came up craps on Revel casino. Right?

                                                             Aaron Houston photo

Actually, no.


The common belief is that New Jersey took a sucker bet on the $2.4 billion Revel Casino and lost big. (The casino spun its last roulette wheel minutes before going belly today at 5 a.m.)


But, it turns out that the state never paid out a penny of the $261.3 million Economic Redevelopment and Growth tax credit awarded to the project by the state Economic Development Authority in 2011.  


NJBIZ‘s Andrew George offers this quote today from Tim Lizura, EDA president and chief operating officer:

“To be clear, Revel has not received one penny of its ERG award,” said  “These incentives have built-in safeguards to ensure taxpayer money is used responsibly. Before receiving any of their approved award, projects must first generate new tax revenue, complete capital investments and/or hire or retain employees.”


Read the full story here  

Related news stories: 

It Used to Be a World-Renowned Gambling Resort

Atlantic City’s gambling industry woes continue with closure …

Revel casino goes dark after just 2 years – KOTV.com 

Inside the $2 Billion Bust: Atlantic City’s Big Bet, the Revel Casino, Closes 

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The rebirth (we sure hope) of the famed Rutgers tomato
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NJ taxpayers came up craps on Revel casino. Right? Read More »

Win a grant to help switch your Pa. fleet to natural gas


Pennsylvania opens its third round of Natural Gas Vehicle grants tomorrow, Aug. 30.
The grants will provide an estimated $6 million to help pay for the incremental purchase
and conversion costs of heavy-duty natural gas fleet vehicles.

Since 2013, the state Department of Environmental Protection says it has awarded $14 million to 44 organizations and companies making the switch to compressed natural gas (CNG), liquefied natural gas (LNG), and bi-fuel vehicles weighing 14,000 pounds or more.

Those eligible to apply include non-profit organizations, local transportation organizations, state owned or state related universities, commonwealth or municipal authorities, for-profit companies and the Pennsylvania Turnpike Commission.
 
Requests can be no more than 50 percent of the incremental purchase or retrofit cost per vehicle, with a maximum total of $25,000 per vehicle.

Grant applications are due by 4 p.m. on Friday, Nov. 14, and will be awarded this winter.

Eligible applicants are encouraged to participate in a related webinar, scheduled for
Sept. 22, from 2 to 3 p.m.

To register for the webinar and view the updated guidance document and online grant application, visit www.dep.state.pa.us and click on the “Natural Gas Vehicle Grant Program” button.

Win a grant to help switch your Pa. fleet to natural gas Read More »

The rebirth (we sure hope) of the famed Rutgers tomato

Rutgers tomato seedling – Jennifer  Pottheiser photo

Everyone pays lip service to the juicy Jersey tomato.

Here’s how tomato expert Jack Rabin describes the famed Rutgers variety that ruled summer picnics and sandwiches from the 1950s to the mid 1980s:

“You’re on your way home from the Shore, you stop at a farm market, you buy some tomatoes. The car smells great. You grab a saltshaker and take a bite. You take another bite. Ahhhh…”


What happened to them?

In New Jersey Monthly, Paula Spam writes: “Blame interstate highways, which enabled produce to be trucked longer distances more quickly, but also encouraged plant scientists
to produce firmer hybrids with thicker skins and interior walls (and less taste) for improved “shippability.”

She adds: “Also blame North Carolina State University, where now-retired breeder Randolph Gardner developed high-yielding, crack-resistant hybrids that became Eastern U.S. standards by the 1990s.”

But now, after four years of “diligently hybridizing and selecting,” three Rutgers scientists are close to recreating the greatest Jersey tomato of them all.

Tomorrow, at the Open House and Great Tomato Tasting at Snyder Farm in Pittstown, NJ, the public will decide it the three tomato nurturers have pulled it off.


Let us know how it goes. We’ll be at the grocery store buying white bread and mayonnaise.  We can taste those Rutgers Tomato sandwiches already.

Read Paula’s full, lip-smacking story here 

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Trenton to Newark: Paddler finishes 9-day eco-journey

Ocean Paddler and Activist Margo Pellegrino finishes her 9-Day paddle from Trenton
to Newark at Riverfront Park in Newark, N.J., on Friday, August 22, 2014. (Video by
Frances Micklow / The Star-Ledger) 
 
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Historic $260 million FEMA mitigation grant will help Sandy-smashed NJ wastewater plant shore up defenses


The Federal Emergency Management Agency has awarded a $260 million Public Assistance grant to the Passaic Valley Sewerage Commission (PVSC). It is the largest mitigation grant FEMA ever has issued through the Public Assistance Program. 

New Jersey Business reports that the funding will be used to build a comprehensive flood protection system at the wastewater treatment facility in Newark and incorporate microgrid technology to allow the facility to continue to operate when the larger electric grid fails.

"PVSC’s Newark wastewater treatment plant, the fifth largest in the nation, serves an estimated two million residents of New Jersey and New York. The plant processes 25 percent of New Jersey’s waste and 15 percent of New York City’s. Forty-eight communities feed into the system.
              
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"The extensive physical damage to the 152-acre facility from Sandy’s storm surge and the resulting power outage caused significant community and environmental impacts.  Power outages shut down key pumping stations for 48 hours and, in order to prevent raw sewage from backing up into thousands of homes, PVSC was forced to discharge 840 million gallons of untreated sewage into Newark Bay.

"It took six days for workers to restore wastewater treatment capabilities, and the facility was not fully functional for months."


Historic $260 million FEMA mitigation grant will help Sandy-smashed NJ wastewater plant shore up defenses Read More »

Wall Street Tom targets Pennsylvania Tom's re-election

Tom Steyer
A billionaire climate activist is putting big bucks into a campaign to defeat Pennsylvania Governor Tom Corbett, The Allegheny Front reports today.
Tom Steyer made his fortune managing a hedge fund he created, Farallon Capital Management. Now the political action committee he created, Next Gen Climate, is trying to elect candidates who will act to slow down climate change.
Tom Corbett
That’s put Tom Corbett in Steyer’s cross hairs. Next Gen Climate spent at least $480,000 airing an ad in July attacking Corbett, according to FCC records made available through the Sunlight Foundation.
Steyer’s pledged $50 million of his own money and said he’d try to raise another $50 million for the campaign, but he’s had a hard time raising that cash.
“We’re trying to participate in places where there is a big differential on something that we think is the generational challenge of our times,” he told NPR in February.
             
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Next Gen Climate says it zeroed in on Pennsylvania because of Corbett’s past comments that climate change was still “a subject of debate.”

The Republican Corbett faces a stiff challenge from Democrat Tom Wolf in November’s election.
The ad Next Gen aired (seen below) slams Corbett’s ties to the gas industry, and insinuates that giving tax breaks to oil and gas companies was a higher priority to his administration than education



Does this make you more or less inclined to vote for Tom Corbett?  Let us know
in the comment section below.

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