NJ town signs off Meadowlands megamall

NJ town signs off Meadowlands megamall

Posted: Updated:

EAST RUTHERFORD, N.J. (AP) -- The town where the Meadowlands sports complex sits has signed off on its part of a public financing plan for a long-delayed megamall project.

The Record  reports East Rutherford's borough council signed off this week on a plan that authorizes up to $524 million in bonds to help developer Triple Five complete the project. In exchange, Triple Five will pay as much as $128 million to the borough over the next 30 years.

East Rutherford's vote moves forward Triple Five's plan to raise $1.8 billion to finish the project. State and county agencies will have to add their approval.

Triple Five also is facing a lawsuit by the New York Giants and New York Jets, who say the mall will create traffic nightmares on game days.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • New Jersey NewsNew Jersey NewsMore>>

  • 1 tube of Lincoln Tunnel closed after accident

    1 tube of Lincoln Tunnel closed after accident

    Tuesday, September 2 2014 10:02 AM EDT2014-09-02 14:02:27 GMT
    One of the tubes of the Lincoln Tunnel has been closed after a chain-reaction accident involving a New York-bound jitney bus and two other vehicles. Port Authority of New York and New Jersey spokesman Steve Coleman says four people were reported injured in the accident in the center tube at about 8:30 a.m. Tuesday.
    One of the tubes of the Lincoln Tunnel has been closed after a chain-reaction accident involving a New York-bound jitney bus and two other vehicles. Port Authority of New York and New Jersey spokesman Steve Coleman says four people were reported injured in the accident in the center tube at about 8:30 a.m. Tuesday.
  • Revel Casino Hotel starts closing in Atlantic City

    Revel Casino Hotel starts closing in Atlantic City

    Monday, September 1 2014 5:16 PM EDT2014-09-01 21:16:28 GMT
    Photo by Arun Kristian DasPhoto by Arun Kristian Das
    The most spectacular and costly failure in Atlantic City's 36-year history of casino gambling begins to play out Monday when the $2.4 billion Revel Casino Hotel empties its hotel.
    Atlantic City's newest casino and its costliest failure has begun its two-day shutdown.
  • Man to face murder charges in mother's slaying

    Man to face murder charges in mother's slaying

    Monday, September 1 2014 3:08 PM EDT2014-09-01 19:08:57 GMT
    Murder charges are pending against a northern New Jersey man who allegedly stabbed and beat his mother to death.
    Murder charges are pending against a northern New Jersey man who allegedly stabbed and beat his mother to death.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices