Economics
Meadowlands Mega-Mall Wins Bond-Market Subsidy It Long Coveted
- Tax-exempt bonds key to American Dream project in New Jersey
- Senator denounces state involvement as ‘crony capitalism’
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New Jersey is on the brink of realizing the American Dream -- if the definition is a mega-mall in the middle of a marsh.
A state agency approved $1.2 billion of tax-exempt municipal bonds for Canadian developers Triple Five Worldwide. The company plans to complete a partially built “world-class destination” of shops, restaurants and entertainment attractions in the Meadowlands, 10 miles west of Manhattan, where previous developers ran out of money.