The Optimist

William K. Cheatham attends most of the meetings of the City Council of Atlantic City. He attends the board meetings of the Casino Reinvestment Development Authority. He is president of the Board of Trustees of the Atlantic City Free Public Library, a member of the Shade Tree Committee and an alternate on the board of the Atlantic City Municipal Utilities Authority. He was active in the First Ward Civic Association and was a regular at the meetings of the city Taxpayers Association (which reviewed the municipal budget) but those organizations no longer assemble on a regular basis. He’s a former member of the county construction board.

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State Could Use Water Authority Advisor’s Blueprint For Valuation, Sale

In May last year Atlantic City’s water authority hired advisory firm Acacia Financial Group to craft a concession agreement that would help the authority both retain its independence and stave off a state takeover of the city. Acacia Financial helped draft two 100-page-plus documents chock-full of inside information and financial details but just a few months later it abruptly ended its $20,000 contract with the water authority because it had accepted another contract – with the New Jersey department that held state-takeover powers. New Jersey, now tasked with plucking Atlantic City from its financial death spiral, is sitting on a detailed plan that would help potential buyers put a price on one of the casino resort’s few remaining assets: its water authority. What’s more, the plan calculates the future water-rate rises that might be possible for the authority. “Their analysis sets forth what a combined rate structure could be, given a concession model,” said Bruce Ward, executive director of the Atlantic City Municipal Utilities Authority said in an interview last month.

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