The New Jersey Casino Reinvestment Development Authority gave a preliminary approval to the owner of Trump Plaza casino’s request to be granted $5.6 million from the state’s alternative investment tax to fund the planned demolition of the property.

Members of the authority met on Tuesday to discuss and vote on the matter. The meeting was concluded with the preliminary approval of the request. However, the authority will further examine the matter before making a final decision.

Trump Plaza was launched in the 1980s by now-US President Donald Trump. The casino resort is located on a premium Atlantic City Boardwalk plot of land. It remained operational until September 2014 when its closure was announced. The property was not owned by Mr. Trump at the time. New York billionaire investor Carl Icahn bought the resort’s parent company Trump Entertainment Resorts in 2015 out of bankruptcy. Aside from Trump Plaza, the purchase included the Trump Taj Mahal resort, which was still operational at the time but closed doors in the fall of 2016.

It became known last month that part of the former Trump Plaza resort would be demolished so that a portion of the property is vacated for new development. It is believed that the development opportunities the move will present will attract the attention of multiple investors.