Because of pressure from former Gov. Jon Corzine's administration, the Casino Reinvestment Development Authority lost nearly $4 million in a bad load to another agency, the Press of Atlantic City reports. The Casino Reinvestment Development Authority ignored its own policies in doing so. Former CRDA Executive Director Tom Carver said the loan helped a Democratic Party contributor and Corzine adviser to buy an affordable housing complex in Elizabeth in Union County.
CRDA provided the interest-free loan in 2009 to the state Department of Community Affairs, which facilitates housing and development. It was to be repaid from a tax that never was collected. CRDA had to forgive the loan when DCA couldn't repay it.
The paper reported "That money was supposed to fund "multiple eligible projects" through a DCA grant program. But the funds ended up helping just one developer - Christiana Foglio, a former state official and a Democratic political supporter - to acquire Elizabeth's Oakwood Plaza Apartments, which she still owns."
According to the paper, "During the past decade, Foglio donated at least $52,000 to Democratic political organizations statewide. Her company has also given $36,520 to Democrats. State Sen. Raymond Lesniak, D-Union, got $8,000, more than any other individual candidate, state Election Law Enforcement Commission records show.''
The paper reminded us in addition to that:
In 2006, CRDA gave a $16.5 million grant to a Pennsauken project involving an ice-hockey arena that would have benefited Camden County Democratic boss George Norcross. That money has not been returned, even though the arena project fell through.
In 2005 and 2006, the authority approved $5 million in grants for a gym and dormitories at two Essex County Catholic schools with a connection to state Sen. and former Gov. Dick Codey.
CRDA is the agency in charge of Atlantic City's new Tourism District. Like a lot of state agencies, it has been known as a dumping ground for political hacks.
Read the full story here.