New Jersey Sought Takeover of Atlantic City’s Finances, A Five-Year Plan According to Gov. Chris Christie

by San Antonio Attorney

New Jersey Gov. Chris Christie, Sen. Stephen Sweeney and Atlantic Mayor Don Guardian have announced plans for the state to assume the finances of Atlantic City as a means to relieve itself from further sinking into bankruptcy.

The city currently fighting financial troubles due to its situation of being on the verge of bankruptcy will no longer worry about fighting its own battles.

Gov. Christie made his announcement earlier that the city’s finances are officially turned over as state guardianship over the next five years.

Gov. Christie, previously a 2016 presidential candidate, halted his campaign to handle state issues such as the devastation Jonas brought over the region that caused an outpour over two feet of snow all over the area.  This led to a flash flood along the Jersey shore.  The storm cleanup was thorough as it stretched across the state and even reached the coastline.

A joint plan was revealed by Christie and Stephen Sweeney, State Senate President and Atlantic City Mayor Don Guardian that will seize the famous gambling resort city and will be controlled by the state as a means of city’s financial governing.

Christie stated that they were entirely aware of the situation especially when the city’s twelve casinos were reduced to eight, which resulted to the decline of nearly 65 percent in Atlantic City’s property tax.

Christie added greater state involvement is the best solution and this led to the mutual agreement to the three politicians.

The New Jersey Governor finally concluded that he has hopes that the bipartisan legislation will be introduced and passed in February.  If this is implemented, Trenton politicians will have authority over Atlantic City in a span of five years.

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