ATLANTIC CITY, N.J. -

A New Jersey redevelopment agency has moved Atlantic City's former Revel casino closer to reopening two years after it shut down.

The Casino Reinvestment Development Authority approved plans for the casino resort to revamp its operations in time for an opening in the first quarter of 2017.

The resort will now be known as Ten.

The agency dropped its insistence that owner Glenn Straub pay $100,000 in assessments for a special business district before the approval could be granted.

Straub is appealing the amount that his project owes in court, and promises to pay whatever the court decides is fair.

He accused the agency of trying to "blackmail" him, and he threatened to tie the entire project up in court for years while the casino sits vacant.

The threat presumably vanished when the agency relented on its immediate demand for the funds.