State Takeover of Atlantic City

We now have a better understanding of Jeff Chiesa's plans for the state takeover of Atlantic City.

In an exclusive interview Tuesday morning with Harry Hurley on WPG Talk Radio 104.1, Gov. Chris Christie talked about what it was like running for President, his relationship with Donald Trump, and if he would ever leave Trenton before his term is up to serve in a higher roll in Washington, DC.

Gov. Chris Christie has selected former Senator and former State Attorney General Jeffrey Chiesa to lead the state's takeover of Atlantic City.

Gov. Chris Christie signs the bills that help Atlantic City avoid bankruptcy but give the city five months to fix its finances. If it can't, the state takes over.

Atlantic City’s financial rescue, or perhaps its path to a state takeover of local government, is one step away from being put into motion.

It will be challenging for city officials to identify the cuts needed within five months to balance their budget. Refinancing its debt would be a big help.

With Atlantic City on the verge of financial disaster, state leaders still can't agree on a rescue plan

The group devoted to promoting Atlantic City to the conference and meeting market claims the current situation is having an impact on the industry that's bordering on disastrous.

“If they come up with something, great,” Christie said of a legislative compromise. “If they don’t, then bankruptcy would be the only option. And while I would regret having to go down that road, it is a road that I will have no choice but to go down.”

A crucial vote is set for Thursday in the Assembly, which is pursuing its own alternative to an Atlantic City takeover as default or bankruptcy inches closer.