ATLANTIC CITY MOVES MUCH CLOSER TO POTENTIAL STATE TAKEOVER

The State said no deal to Atlantic City.  The Christie Administration has rejected Atlantic City’s five year financial plan which could very well set the stage for a partial or complete state takeover.  The Department of Community Affairs says the city’s plan is not likely to achieve financial stability.  Next up:  The New Jersey Local Finance Board will consider a plan to assume the powers that currently belong to elected officials.