NORTH JERSEY — Gov. Christopher Christie was expected Wednesday to announce changes around the Meadowlands sports complex, managed by the state’s Sports and Exposition Authority. Changes could include closing the Meadowlands Racetrack, selling the Izod Arena, and giving state aid to save the $3 billion Xanadu development project that would include retail stores and recreational areas. The development project has fallen on hard financial times over the years.
According to the New York Times, “The state would in effect bail out a private retail and entertainment project that has already cost $2 billion and needs an additional $800 million to open. The state would provide some financing on condition that the developer remove Xanadu’s reviled, multicolored exterior… The New Jersey Sports and Exposition Authority, which oversees the Meadowlands complex, would be reduced to an ‘asset manager.’ ”
For our previous articles on Xanadu and the Meadowlands, see links below. Watch this weekend’s paper or this website for updates.
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