Former US senator to oversee state takeover of Atlantic City

Markets Associated Press

A former U.S. senator will oversee New Jersey's takeover of Atlantic City.

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The Department of Community Affairs announced the appointment of Jeffrey Chiesa on Monday night.

The 51-year-old Republican served as Gov. Chris Christie's chief counsel and then as the state's attorney general before the GOP governor chose him to serve out the U.S. Senate term of the late Frank Lautenberg. He decided not to seek a full term.

Chiesa's appointment comes nearly a week after the state took control of the assets and major decision-making in the struggling seaside gambling resort that is half a billion dollars in debt.

The New Jersey Local Finance Board voted last Wednesday to take over the city's main governmental functions after the state government rejected a proposed five-year financial turnaround plan.