The NJ Division of Local Government Services wants full control of Atlantic City’s assets. Council President Gilliam says no way to what he sees as a state takeover. Gilliam said he won’t put it up for a council vote until the particular terms undergo a significant re-write.
According to the Press of Atlantic City, The State of New Jersey wants DLGS director Tim Cunningham to “ascertain the value of the City’s assets and to proceed with the steps necessary to access and realize the value of those assets.”
Cunningham would be authorized “to dissolve, terminate, transfer, or otherwise dispose of any municipal authority, board or commission, and to sell, convey, lease, or otherwise dispose of any interest in any municipally owned asset.”
The revised agreement would go into effect after being approved City Council and the mayor. Once/if OK’ed, the State of NJ (via Cunningham) would have the teeth to cut transitional aid to AC in half….. if they fail to go along with the new program.
READ FULL STORY in Press of Atlantic City
