ATLANTIC CITY, N.J. (AP) - Atlantic City is trying - again - to sell a historic former airport to help pay down its crushing municipal debt.
ATLANTIC CITY, N.J. (AP) — Atlantic City is trying — again — to sell a historic former airport to help pay down its crushing municipal debt.
But this time the 143-acre site might go at a 90 percent discount.
The city is placing the former Bader Field property up for auction.
Penn National offered $800 million for the site in 2008, but the city held out for more, and no one bought it.
It was the first aviation facility in the world to be called an "airport" and it helped develop Atlantic City as a casino mecca. But Bader Field has been closed for a decade as the city's fortunes crashed.
The city will set a $150 million minimum bid. The sale proceeds will help pay some of Atlantic City's $437 million debt.