The city, meanwhile, has figured out a way to stay open beyond this week, but remains on borrowed time. “Regardless of whose plan it is, our lawmakers must guarantee Atlantic City residents a meaningful say in determining the future of their community”. A judge yesterday ruled in favor of Borgata’s move to sue for $88 million in overpaid taxes to the city.
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State Assembly Speaker Vince Prieto has objected to the takeover bill because it allows the state to nullify union contracts, the Philadelphia Inquirer reports.
Prieto said he hopes to introduce the measure before Thursday’s voting session. Christie is first seeking to have New Jersey assume control of AC’s finances before funding the $240 million in debt, and $160 million in tax appeals required by AC, and the NJ Governor said that Guardian would be to blame if the deal falls through.
Atlantic City Mayor Don Guardian said Prieto’s bill is fair.
Christie, speaking at a news conference at Catholic Charities in Trenton, said Prieto’s bill was “not something I would even begin to think about supporting” and predicted that it was unlikely to pass the Assembly. The speaker has called on the Christie administration to negotiate a compromise, but Greenwald voiced concern about what Prieto’s next step would be if the Republican governor refuses that offer. Guardian and Christie both said the delayed payroll buys the city only a month or two before it again risks insolvency.
If the special master agrees the benchmarks have not been met, the state could then do most of the things envisioned in the Senate version of a takeover bill.
On Thursday, Prieto’s bill unanimously passed a legislative committee in a room filled with union representatives. It lets casinos make payments to the city in lieu of property taxes, and would give the state authority over the city’s finances, but only if the city fails to meet certain performance targets.
Christie continued to criticize salaries in city government and the police department, but shrugged off questions about the state’s Casino Reinvestment Development Authority, which pays its executive director $225,000 a year, more than the police chief.
“We want to stop that, we want a court to stop that before Friday, so they don’t do away with this money before it can go to the teachers and the school children of Atlantic City”. “The expert committee created under this bill would be given a year to use its sweeping power to cut spending, save money and restore Atlantic City to sound financial condition”.
“The mayor’s math and his understanding match his management ability”, Christie said.
Christie has said he will not sign anything other than the bills the state Senate already has passed.
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Sweeney, the Senate leader, declined comment on Prieto’s bill through a spokesman later yesterday.
