Atlantic City officials to hand-deliver revised financial plan

Officials in Atlantic City are laying out their next move following the state's rejection of their financial plan to escape a state takeover.



Mayor Don Guardian says they will make revisions to the plan addressing all the issues the state brought up and hand-deliver it tomorrow in Trenton for reconsideration.



The five-year financial plan would have cut $55 million from the budget by 2021 through laying off 100 people, early retirements and a tax settlement with the Borgata.



But the Department of Community Affairs says the plan had inaccuracies and omissions, and that it failed to make tough decisions for the city to become financially stable after a string of casino closures. The rejection of the plan brings the city another step closer to a state takeover.



Mayor Guardian says the city is within its rights to resubmit the plan tomorrow since they technically had 150 days. The deadline was set for tomorrow. 



The DCA put out a statement Wednesday evening that says that the agency stands by its decision, adding that it was not politically motivated or disingenuous, simply a fair examination of the plan.



It's unclear whether the state will accept a second submission with corrections.


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