ATLANTIC CITY—New Jersey Gov. Chris Christie is giving a new emergency management team 60 days to propose changes to the finances and operations of this troubled city, such as renegotiating its debts, The Wall Street Journal reported.

Still, Christie administration officials emphasized Thursday that the new team—New York City corporate lawyer Kevin Lavin and Kevyn Orr, who until recently was Detroit’s state-appointed monitor—weren’t taking over Atlantic City and will work with its existing government.

“The residents in this city need to understand: you still have a mayor, you still have a council and we want to work very closely with them,” said Mr. Orr on his official appointment as special counsel to Mr. Lavin, the new manager, on Thursday.

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