Another Glorious Redevelopment Project Down the Tubes

Today’s New York Times reports that after teetering on the edge of bankruptcy for a while, Atlantic City has thrown in the towel and has agreed to “yield control of the city’s finances to the New Jersey state government. . .” hoping to stave off bankruptcy. Patrick McGeehan and Marc Santora, Deal to Give State Control Over Atlantic City’s Finances, N.Y. Times, Jan. 27, 2016, at p. A20.

Remember how our betters assured us that redevelopment would restore Atlantic City to . . . Actually, we don’t really know what that restoration was supposed to be to. Even then Atlantic City was pretty shabby, uless you were a salt-water taffy freak. Your tax money at work.

Sic transit gloria . . .

PS – For some reason we can’t find this item in the on-line edition of today’s NY Times. But we have a hard copy and are looking at it even as we write this.