New Jersey Senate President Steve Sweeney said yesterday that the state should take over Atlantic City and, if it does not, he would support a bankruptcy filing for the gambling hub, Reuters reported yesterday. Sweeney and two other state senators said they planned to introduce legislation that would give the state even more control of the city's financial management. Sweeney did not provide further details yesterday. The city must already have its budget and hiring approved by a state board, has a state monitor and is overseen by Emergency Manager Kevin Lavin, appointed by Governor Chris Christie nearly a year ago. Sweeney said more control is necessary because Mayor Don Guardian and the city council have not done enough to reduce the size of government, despite layoffs that have already occurred. The legislature has been finalizing legislation calling for casinos to make set payments in lieu of taxes. That is aimed at stabilizing Atlantic City's tax base, which has been eviscerated by casinos' declining value because of competition from neighboring states. Lawmakers are growing tired of working on that and other measures to help Atlantic City while suggestions that would reduce costs or create revenue — such as selling the city's water utility — remain unrealized, Sweeney said.
