New Jersey lawmakers vote Thursday on whether to send a compromise Atlantic City rescue package to Gov. Chris Christie for his signature. Watch video
TRENTON -- The war over how to help financially ailing Atlantic City could be close to ending as New Jersey lawmakers prepare to vote Thursday on whether to send a compromise rescue package to Gov. Chris Christie's desk.
But Christie said Wednesday the saga may have produced an unintended consequence: placing the effort to bring casinos to north Jersey in serious danger.
After months of arguing, both the state Senate and Assembly are scheduled to vote on a deal that would give Atlantic City 150 days to form a five-year financial plan and avoid a state takeover. It would also give the iconic gambling resort a cash infusion to stay afloat.
Though Christie had been pushing for an immediate takeover of the city, the Republican governor said Wednesday during his monthly radio show that he is "very comfortable" with the compromise.
He noted that the agreement gives him "all of the authority" he would need to fix the city's finances if local officials fail to reach their benchmarks over the next five months.
N.J. lawmakers reach compromise to save Atlantic City
Still, Christie said he will wait to see what happens Thursday before deciding on whether he'll sign it. He said he expects some amendments to be made to the package before the vote.
"Whatever lands on my desk I will look at quickly," Christie said during "Ask the Governor" on New Jersey 1010.5-FM. "There's no reason to delay."
"And as long as I have something I think will ultimately not impact the taxpayers of the state of New Jersey and help save Atlantic City, I'll do it," he added.
But Christie said he believes the Atlantic City battle has put a plan to expand casino gambling to the northern part of the state "in big trouble."
Garden State voters will be asked on November's ballot whether to approve two casinos in north Jersey -- a proposal officials say would create new jobs and new revenue, and help keep the state competitive in the northeastern gaming market.
Christie, though, once again blasted Assembly Speaker Vincent Prieto (D-Hudson) for his fierce opposition to the Atlantic City takeover. And he renewed his accusation that Prieto received marching orders in the fight from Jersey City Mayor Steve Fulop, a likely Democratic candidate for governor next year. Prieto and Fulop deny that.
"I think the speaker and the mayor of Jersey City have effectively put (north Jersey casinos) at almost complete flatline," Christie said. "Because what they did was they scared off all the people who thought New Jersey would be a hospitable place to engage in gaming in the northern part of the state when they saw the way they treated people in Atlantic City and conducted themselves."
Prieto responded with a statement Wednesday night.
"I don't have anything to say about the governor's comments, other than I look forward to him signing my bill that gives Atlantic City an opportunity to succeed and North Jersey gaming -- as has always been the case -- will succeed or fail on its own merits with the voters," the speaker said.
As for Atlantic City? The fear has been that the city is dangerously close to becoming the first New Jersey municipality to file for bankruptcy since 1938.
Of course, even if the rescue package takes effect, the city now has to find a way to cut more than $80 million over the next five months.
But Marc Pfeiffer, the assistant director of the Bloustein Local Government Research Center at Rutgers University, said if the city can formulate and stick to a plan, it will likely avoid bankruptcy.
"They're not out of the woods," said Pfeiffer, a former deputy director with the state Division of Local Government Services. "But they clearly have a path that if executed properly will get them out of the woods."
State Senate President Stephen Sweeney (D-Gloucester), the main sponsor of the legislation, said he believes Atlantic City will follow through.
"I think they know we're in a very serious position now," Sweeney told NJ Advance Media.
Brent Johnson may be reached at bjohnson@njadvancemedia.com. Follow him on Twitter @johnsb01. Find NJ.com Politics on Facebook.