New Jersey Governor Chris Christie on Tuesday called for a revised plan to rescue Atlantic City, including proposals for a takeover and new revenue sources.
The plan, which Christie introduced with state Senate President Steve Sweeney and Atlantic City Mayor Don Guardian by his side, combines elements of previous plans to save the distressed gambling hub.
The state already controls the city’s budget, hiring and other finances, but previous legislation Sweeney introduced this month proposed a more complete takeover of operations.
Christie’s joint plan on Tuesday, which he said he wants to get cleared by the end of February, would allow the state to restructure city debt and terminate municipal contracts, including with labor unions. Control would last for five years instead of the previously proposed 15 years.
It would allow the state to dissolve city departments, consolidate and privatize municipal services and sell city assets, which were all proposals included in a recent report by the city’s emergency manager Kevin Lavin about how to turn around the failing city.