Atlantic City to sell or seize 500 abandoned buildings

Selling hundreds of abandoned buildings is Atlantic City’s latest effort to raise money for its troubled finances and fight off a threatened state takeover.

Atlantic City plans to take possession of nearly 500 abandoned buildings and put them up for sale.

Republican Mayor Don Guardian says the city would use tax liens, emergency condemnation or eminent domain proceedings to take control of the buildings and sell them to developers who would either repair or raze them.

In addition to a financial boost, the move would address one of visitors’ longstanding gripes about the seaside gambling resort.

About 100 homes that neighborhood groups flagged as being abandoned have seen their owners start to fix them up after the city threatened to take control of them.

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