Contact Us
Make My Homepage

NJ Agency Seeks Bonds to Restart Megamall

Bergen County’s Improvement Authority is requesting state approval to float up to $800 million in bonds to restart the stalled American Dream megamall project in the Meadowlands.

American Dream
Illustration of the completed American Dream megamall in the Meadowlands (Triple Five)

The Record newspaper reports documents show three public agencies would work together on a financing plan to provide a private developer with much of the cash needed to get the retail and entertainment complex open.

Repayment funds would come from revenues generated by the project.

Details of the $1.8 billion financing plan haven’t been released.

But the authority’s financial experts say the agency could refuse to issue the bonds if any risk to the county appears in future negotiations.

Known originally as Xanadu, the mall fell prey to the financial downturn and the project has been dormant since 2009.

 

(Copyright 2013 by The Associated Press.  All Rights Reserved.)

Best of the Web


Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://nj1015.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here.

Sign up for an account to comment, share your thoughts, and earn points to get great prizes.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!