- Associated Press - Thursday, November 3, 2016

ATLANTIC CITY, N.J. (AP) - Atlantic City Mayor Don Guardian says the resort town has given the Christie administration new details about its financial turnaround plan.

Guardian said in a statement Thursday the city submitted supplemental information about its five-year plan to the Department of Community Affairs.

Guardian, a Republican, says he hopes the new information will persuade the state to accept the plan and prevent a state takeover.

The state earlier this week rejected the city’s plan, saying it didn’t bring enough stability to the city’s finances and relied on legally dubious asset transfers.

The plan called for laying off 100 workers, cutting spending and selling its largest tract of vacant land to its water utility, with the money helping pay down $500

Guardian didn’t specify what the supplemental information was.

LOAD COMMENTS ()

 

Click to Read More

Click to Hide