Above Image: CRDA approves food security projects for Atlantic City (Press of Atlantic City, May 19, 2026)
Last Tuesday, the New Jersey’s CRDA (Casino “Reinvestment and Development” Authority) and its EDA (Economic Development Authority) agreed to give roughly $4.4 million of tax dollars to 3 projects that claim to provide “food security” in Atlantic City.
The CRDA is funded by a tax on Atlantic City casinos. The NJEA is funded by a complicated assortment of federal grants, state taxes, and tax-free bonds*.
*See details below.
Roughly 800,000 people (10% of New Jersey’s population) now get federal food assistance. More than 600,000 illegal aliens live in our state.
The biggest project is funded by a $4 million “Local Property Acquisition” grant from the New Jersey EDA (Economic Development Authority). It also got a “food security planning grant” from the NJEDA.
The project is owned by “Ideal Institute”, a “non-profit” run by Ren Parikh. Parikh immigrated from India in 2000.
Parikh is using this taxpayer money to buy a 100-year-old vacant parking garage at 7 S. South Carolina Avenue in Atlantic City, New Jersey. The company claims it will then renovate the building to do the following:
- Run a “food market” for poor people on the ground floor. Because the building has no parking spaces, and because no poor people live nearby, the market will deliver the food.
- The second floor will contain an “advanced aquaponics system” to grow “greens and seafood”. It will be an indoor farm in the middle of Atlantic City with no soil, rain or sunshine. It will grow fish or shellfish in tanks requiring fossil fueled pumps and motors. Will this really be more efficient and cost effective than growing food on real farms or raising fish or shellfish in real lakes or back bays?
- The third floor will have “classrooms, meeting rooms, and a fully equipped “demonstration kitchen” for “vocational training”. (Don’t Stockton University, Atlantic Cape Community College, Atlantic County Institute of Technology, several high schools and the Boys and Girls Clubs of Atlantic City already have these?)
- The top floor will offer “rentable commercial kitchen space for food entrepreneurs and caterers.” (What genuine businesses would pay for such facilities in a building with no parking in a high crime area far from their customers?)
Besides approving this project, CRDA approved over $231,000 in funding from its “Tourism District and Community Development Fund” for the group “Communities Revolutionizing Open Public Spaces (C.R.O.P.S.) to support its Atlantic City food insecurity programs. (Apparently CRDA thinks it is cheaper to grow vegetables on scattered vacant lots in a city than on established farms!)
CRDA also approved $150,000 to the Community FoodBank of New Jersey to support its food distribution efforts in Atlantic City.
New Jersey State government is also spending $20 million to “redevelop” the rundown Rennaissance Plaza, including “expanding and modernizing “ the food store there. (Every food store at the location failed because of massive theft by customers and employees. The presence of large numbers of criminals, drug addicts, and “homeless” around the store also discourage many people from shopping there.
Sources: Nonprofit Plans to Rehab Vacant Atlantic City Building Into Hub That Could Deliver Groceries Right to Your Door | Jersey Digs (Jersey Digs, April 13, 2026)
CRDA approves food security projects for Atlantic City (Press of Atlantic City, May 19, 2026)
CRDA-Board-Agenda-05-19-2026.pdf
On many occasions, Elon Musk stated that massive, payments by all levels of government to unaccountable “non-profit” organizations are corrupting and driving up the cost of government. He said they are making everything unaffordable to everyone and destroying the country.
Elon Musk said he uncovered this while heading the “Department of Government Efficiency” (DOGE) at the beginning of Donald Trump’s second term as President. Musk said he was stopped by fierce opposition by both Democrats and Republicans.
He explained this in this November 2, 2025 interview with Joe Rogan.
*Question asked on May 21, 2026 to Microsoft 365 Copilot AI: “How are New Jersey EDA (Economic Development Authority Grants) funded?”
Short answer: New Jersey Economic Development Authority (NJEDA) grants are funded primarily through state appropriations, state‑authorized bond programs, and tax‑credit–driven incentive structures created under the New Jersey Economic Recovery Act of 2020, along with special-purpose funds tied to specific programs.
🧾 Breakdown of NJEDA Funding Sources
- State Budget Appropriations
The New Jersey Legislature allocates money to NJEDA each fiscal year to support grant, loan, and incentive programs—especially those aimed at small businesses, community revitalization, and innovation. These appropriations underpin major programs such as Main Street Recovery and other small‑business support initiatives.
- Economic Recovery Act of 2020 (ERA) Funding
The ERA created a large suite of tax‑credit and financing programs. These programs are funded through:
- State‑authorized tax credits (e.g., Emerge, Aspire, Film & Digital Media credits)
- Dedicated state funds for community development, brownfields, historic preservation, and food‑desert relief
- Program-specific appropriations for pandemic recovery and economic revitalization
- Bond Financing & Loan Programs
NJEDA has statutory authority to issue:
- Tax‑exempt and taxable bonds
- Loan participations and guarantees
- Direct loans
These financing tools generate capital that supports grant‑adjacent programs and subsidized lending.
- Special-Purpose Funds
Many NJEDA grants are tied to dedicated funding streams, such as:
- Main Street Recovery Fund (state-funded pandemic and post‑pandemic small‑business support)
- Clean energy and C‑PACE programs (funded through energy‑related financing mechanisms)
- Historic Property Reinvestment Program (leveraging federal and state historic tax credits)
- Federal Pass‑Through Funds (Program‑Dependent)
While not universal, some NJEDA programs—especially during and after COVID‑19—have used federal relief funds (e.g., CARES Act, ARPA) administered through the state.
📌 Bottom Line
NJEDA grants do not come from a single pot of money. They are funded through a mix of state appropriations, tax‑credit programs, bond financing authority, and special-purpose funds, all structured under New Jersey law—especially the Economic Recovery Act of 2020.
If you want, I can also break down funding sources for a specific NJEDA program (Main Street, Aspire, Emerge, C‑PACE, etc.) or explain how NJEDA’s budget is structured.
LibertyAndProsperity.com is a tax-exempt, non-political education organization of roughly 200 citizens who mostly live near Atlantic City, New Jersey. We formed this group in 2003. We volunteer our time and money to maintain this website. We do our best to post accurate information. However, we admit we make mistakes from time to time. If you see any mistakes or inaccurate, misleading, outdated, or incomplete information in this or any of our posts, please let us know. We will do our best to correct the problem as soon as possible. Please email us at info@libertyandprosperity.com or telephone (609) 927-7333.
If you agree with this post, please share it now on Facebook or Twitter by clicking the “share” icons above and below each post. Please copy and paste a short paragraph as a “teaser” when you re-post.
Also, because Facebook, YouTube and other social media often falsely claim our posts violate their “community standards”, they greatly restrict, “throttle back” or “shadow ban” our posts. Please help us overcome that by sharing our posts wherever you can, as often as you can. Please copy and paste the URL link above or from the Twitter share button to the “comments” section of your favorite sites like Patch.com or PressofAtlanticCity.com. Please also email it to your friends. Open and use an alternate social media site like Gab.com.
Finally, please subscribe to our weekly email updates. Enter your email address, name, city and state in the spaces near the top of our home page at Homepage – Liberty and Prosperity. Then click the red “subscribe” button. Or contact us at info@libertyandprosperity.com, (609) 927-7333, or the below address. Thanks.
Seth Grossman, Executive Director
LibertyAndProsperity.com
453 Shore Road
Somers Point, NJ 08244
