New Jersey

Atlantic City Mayor Donald Guardian wants to transform his city beyond its longtime reputation as a gambling hub.

Atlantic City’s ability to close a $101 million deficit in its adopted fiscal 2015 budget is a credit positive for a city that has been under distress this year, according to Moody’s Investors Service.

Rutgers University in New Jersey had its long-term credit rating lowered one notch by Standard & Poor’s to A-plus from AA-minus on Sept. 25 due to diminished financial resources.

The New Jersey State Senate pressed the federal government on Sept. 24 to accept a funding proposal for a new $20 billion Gateway rail tunnel project with a bipartisan resolution that passed in a 38-0 vote.

New Jersey’s Local Finance Board has approved Atlantic City’s 2015 budget plan to plug its $101 million current-year shortfall.

Atlantic City has positioned itself to make short-term required debt payments with no plans to enter bankruptcy, according to the city’s revenue director Michael Stinson.

R. Seelaus and Co., Inc. announced on Monday that it has been certified as a Women Business Enterprise by the State of New Jersey.

New Jersey’s Stockton University has reached an agreement to sell the former Showboat Casino Hotel in Atlantic City for $22 million to Philadelphia-based developer Tower Investments.

A campus town center at The College of New Jersey is the newest project to materialize from a public-private partnership program that faces an uncertain future after a five-year run.

New Jersey Governor Chris Christie and New York Governor Andrew M. Cuomo delivered a letter to President Barack Obama Tuesday outlining a framework aimed at achieving funding for a new trans-Hudson commuter rail tunnel.