ATLANTIC CITY, N.J. (AP) — New Jersey officials say Atlantic City’s water utility will not be privatized.
Former U.S. Sen. Jeff Chiesa (Key-EH’-sah) said Wednesday the state will not seek to sell the utility.
There had been speculation that the state, which had seized control of Atlantic City’s assets and major decision-making power a year ago, would try to sell the water works to help pay down the city’s debt.
Chiesa said he became convinced of the utility’s importance to Atlantic City.
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Republican Gov. Chris Christie’s administration took over Atlantic City’s finances in November 2016, saying the city wasn’t making the hard choices needed to tame its finances.
Incoming Gov-elect Phil Murphy, a Democrat, has promised to end the takeover.