Atlantic City to MGM: Let's talk numbers -- and tax breaks -- on massive housing plan

Key points

• Atlantic City Council approved negotiations for a long-term tax exemption with MGM Resorts International
• The deal could enable construction of as many as 1,800 new market-rate housing units
• The development would occur on vacant land owned by MGM near Borgata Hotel Casino & Spa
• Tax breaks are being offered as an incentive to spur major housing investment in the city
• The agreement represents a strategic economic development initiative for Atlantic City

FAQ

What is Atlantic City proposing with MGM Resorts?

Atlantic City Council authorized negotiations for a long-term tax exemption to support MGM Resorts' development of up to 1,800 new market-rate housing units on vacant land the company owns near Borgata Hotel Casino & Spa.

Why is the city offering tax breaks for this project?

Tax incentives are designed to attract major real estate investment and stimulate housing development on previously vacant properties, which benefits the local economy and housing availability.

Where would the new housing be located?

The proposed housing development would be built on vacant land owned by MGM Resorts located near Borgata Hotel Casino & Spa in Atlantic City.