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Trump talks to reopen22 January 2008ATLANTIC CITY, New Jersey -- As reported by the Press of Atlantic City: "City Council is expected to vote this week on a resolution to reopen the city's negotiations with Trump Entertainment Resorts Inc., the latest attempt to decrease a $34 million tax appeal settlement the mayor labels as a bad deal. "Newly sworn-in City Councilman Steven Moore, who was not yet on council in November when the settlement was approved, said Monday that he is sponsoring the measure to ensure that taxpayer money is not misspent. "The city's settlement of Trump's 19 tax-appeal cases consists of $22 million in tax credits over the course of six years and $12 million in cash, which the city already paid in December. "...The resolution comes shortly after Mayor Scott Evans' pledge to find a legal way to reopen the case and renegotiate the settlement. Atlantic County Executive Dennis Levinson made an unsuccessful bid to intervene in the settlement in late December after he learned the county would be charged $5 million of the $34 million. "...City Council approved the settlement Nov. 1, when William 'Speedy' Marsh was both acting mayor and president of council..." copyrighted material written for and appeared exclusively in The Press of Atlantic City |