Atlantic City’s new financial boss—state appointed manager Jeffrey Chiesa—appeared at a City Council meeting to answer questions from residents, but still had few details on his plan to fix city finances.
Chiesa is a former state attorney general and served as a U.S. senator from New Jersey. He’s been appointed by the state to oversee the city’s finances as it faces an about $100 million budget hole and about $500 million in debt it can’t pay back. The state took over the city’s finances under a series of bills designed to help the city stave off bankruptcy passed earlier this year.
Chiesa said that he’s only just begun in the post and there is still no plan for the resort.
“It has been two weeks,” Chiesa told the meeting according to the Press of Atlantic City. “My plan is to do what I think is necessary to create a structural financial situation that works not for six months, not for a year, but indefinitely so that this place can flourish in a way that it deserves to flourish.”
Chiesa also said his will be paid hourly for their work, but the agreement isn’t complete and he could not name the hourly rate, according to the Press.
Mostly, Chiesa tried to assure residents that despite having sweeping powers—which include selling city assets and breaking union contracts—he will listen to residents’ concerns.
“What this designation has done is consolidate authority, per the legislation, in the designee to make those decisions,” he said. “That does not mean that I’m not listening. That does not mean I’m pretending I have all the answers without consulting with other people.”
Chiesa may have to move quickly as at least two potential candidates for state governor have come out against the takeover. Chiesa is a longtime ally of Governor Chris Christie; whose term ends in 2017. The state has control of the city for up to five years, but Christie as well has said he hopes the city’s finances can be fixed in less time.
Chiesa did make one move last week when he vetoed an action by the city’s Municipal Utilities Authority’s board to give themselves $3,000 bonuses. The fate of the city’s MUA has been one of the most controversial issues in the state takeover with the city wanting to maintain control of utility and many in Trenton wanting the city to sell it to offset debt.
The MUA board approved the bonuses at a special meeting last month, according to the Press. However, board members later told the paper the bonuses were only meant for members leaving the board, which is a longstanding tradition at the MUA. They said they will modify the misworded resolution.
