ATLANTIC CITY — Carl Icahn, owner of the shuttered Trump Plaza Hotel and Casino, is seeking more than $5.6 million from a tax fund casinos contribute to annually to cover a portion of the property’s demolition cost.
The Casino Reinvestment Development Authority’s board of directors approved reviewing the request during its meeting Tuesday. A decision on whether the funds can be used will be made at a future date.
Should Carl Icahn be allowed to use casino tax funds for demolition of Trump Plaza?
Should Carl Icahn be allowed to use a tax fund casino contribute to annually to help pay for the demolition of the Trump Plaza Hotel and Casino?
The demolition will cost about $13.2 million and take 15 months to complete. Following the razing, a 160-space parking lot will be built on the site, said Nick Talvacchia, an attorney for Icahn.
“The project squarely falls within the purposes of the authority,” Talvacchia said.
Mayor Don Guardian, who is a member of the state board, said he supports razing the property but is against the use of the funds to help finance it. Guardian and Kevin Ortzman, regional president in the Atlantic City region for Caesars Entertainment, both voted against the measure.