STATE WILL OVERSEE ATLANTIC CITY'S FINANCES

State officials announced today that they will now provide oversight to Atlantic City’s governmental finances.  In a deal announced on Tuesday, the State of New Jersey will allow Atlantic City to spread out a $9.5 million operating deficit over a five year period.  In return, the State will now provide oversight of Atlantic City’s financial situation.  Governor Chris Christie says the state wants to help Atlantic City “through a difficult period”.  Atlantic City Mayor Lorenzo Langford announced today that he signed a deal with the state that allows the oversight.