Wells Fargo has offered a hundreds of thousands of dollars to power the former Revel Casino Hotel, according to court documents obtained by NBC10.
The offer of $300,000 was made by Wells Fargo Friday with the intention of alleviating "dangers" from the stalement between ACR Engery Partners and the building's new owner, Polo North.
"Wells Fargo is concerned that the impasse between ACR and Polo North is creating a potentially dangerous situation with respect to the building and its surrounding areas.
Pending court approval, the funds will be made by the bank immediately.
"Due to the obvious and imminent public safety issues, time is of the essence," the document stated.
The amount offered is enough to restore power to the building for two weeks.
Prior to the document's filing, U.S. District Court Judge Jerome Simandle issued a temporary restraining order Friday prohibiting Glenn Straub, Polo North's owner, from attempting to hook up generators or other temporary power sources to equipment owned by ACR Energy Partners inside the casino.
A lawyer for ACR says there are life-and-death safety issues at stake.
"He is not to energize our equipment, or even touch our equipment," said attorney Tim Lowry. "There are severe life safety issues involved. It's the same reasons fire departments don't let you hook a generator directly into your electrical panel."
Straub bought the defunct Atlantic City casino on April 7. Power to the building was terminated two days later.
He's being fined $5,000 by the city for each day it's off for fire code violations.
Published at 10:44 AM EDT on Apr 18, 2015
Copyright Associated Press / NBC 10 Philadelphia
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