New Bill Means State Could Own Atlantic City For Another 4 Years
Well, it doesn't look like Atlantic City residents will have their city back anytime soon.
Let's circle back. Do you remember when, right around the end of former Governor Chris Christie's term, the state took over all of the happenings in Atlantic City? They did so because Atlantic City was, reportedly, face to face with bankruptcy. As a result, the state came in and, essentially, made all the decisions regarding the city's finances.
NJ.com reports that while the city has actually been recovering well since the takeover, the COVID-19 set that progress back a bit. Before the COVID-19 pandemic swept through South Jersey (and the world), the city was looking at its lowest budget in years. That's great news for a town that, not too long ago, was on the brink of financial ruin. Once COVID-19 hit, so did the unemployment rate as the main source of income for the city, the casinos, all had to close for a few weeks in an effort to stop the spread.
As a result, profits were, obviously, not what the powers-that-be predicted would be the outcome of the 2021 fiscal year. So, they've proposed a bill that would extend the state's takeover of Atlantic City for a few more years. NJ.com says the bill proposes that the takeover should last through 2025.
One stipulation in the bill this time around, though, benefits the unions at work in Atlantic City. Currently, they're not listed as civil service workers, so the way they handle disputes costs the city more money than it would if they were reinstated as such. This bill would make sure that came to fruition.
So, it looks like Atlantic City will remain in the hands of the state, for now. Get all the details HERE.