Christie, a 2016 Republican presidential candidate, also declined on Tuesday to sign the other bills in the package.
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“We feel it’s extortion”, Small said.
No New Jersey municipality has filed for bankruptcy since Fort Lee in 1932.
At a community rally Monday against a planned state takeover of Atlantic City, Mayor Don Guardian railed against what he termed the fundamental unfairness of the state withholding help from the city, then blaming it for mismanaging its finances.
Yet just last week, Sweeney said he would support a bankruptcy filing for Atlantic City if the legislature did not quickly approve his takeover bill. Sweeney says the city has proven itself incapable of living within its means and can no longer look to the state to bail it out. The former Democratic mayor of Atlantic City, state Senator Jim Whelan, said, “New Jersey has joined “Alice in Wonderland.’ Gov. Christie has vetoed his own bills”, adding, “The Legislature concurred with his version of the bills, and now he is bizarrely vetoing them”.
Though the report stopped short of recommending bankruptcy, it’s unlikely that all of the proposed corrective actions can be completed before the city is in danger of running out of money.
For example, Lavin suggested considering regionalizing the police force and privatizing the fire department, hiking the costs of parking tickets and increasing enforcement, and “monetizing” city assets including the Municipal Utilities Authority and Bader Field, among other ideas.
Christie said this past weekend that he’s met with Sweeney and Prieto about a possible takeover, but he has not said whether he would back it.
State Sen. Richard Codey, a Democrat who sponsored the bill, said he has already reintroduced the bill and expects lawmakers will again send it to the governor’s desk this legislative session.
Second, we are requiring that each of the new North Jersey casinos include a 51 percent ownership interest from existing Atlantic City casinos to ensure that the new casinos cross-market directly with Atlantic City.
Prieto added that “everybody wants to avoid bankruptcy”. Competition from neighboring states has eroded Atlantic City’s onetime dominance over East Coast gambling and pushed what once was a gambling hub into state financial oversight.
“We do hope that the governor reconsiders his position… especially in light of his heartfelt remarks in regards to his family member being addicted to smoking and the tragedy that his family went through”, Ms. Blumenfeld said, referring to public comments Mr. Christie has made about his mother, a longtime smoker who battled lung cancer. Atlantic City’s tax base has been battered by last year’s closing of four of 12 casinos. Kevin O’Toole, a Republican from Cedar Grove, announced a plan to introduce legislation to give control of city finances to the state’s Local Finance Board.
For decades, Atlantic City – the only place in New Jersey where casino gambling is allowed – was the economic engine of the southern part of the state.
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“I’m going to ask the mayor for special meeting to discuss bankruptcy for Atlantic City”, declared Small. Guardian argues that the city has worked closely with the monitor and emergency manager to shed millions from its budget.
