The New Jersey Meadowlands Commission and the New Jersey Sports and Exposition will merge if Assembly Speaker Vincent Prieto has his way. On Dec. 4, he introduced legislation to consolidate the two state agencies.
“These two agencies share the common interest of promoting economic growth in the Meadowlands region and northern New Jersey,” Prieto said in a statement. “Consolidating them promotes efficiency of operation, cost effectiveness, and the elimination of unnecessary government bureaucracy.”
The Meadowlands Commission was established in 1968 as the zoning and planning agency for the 30.4-square-mile Meadowlands region spanning Bergen and Hudson counties. The Sports and Exposition Authority was established in 1971 to build and operate the Meadowlands Sports Complex, including the original Giants Stadium and Meadowlands Racetrack. The Izod Center and other entertainment destinations throughout the state, including Atlantic City, were later added under its purview.
Prieto says the bill would boost economic growth and property tax savings in the Meadowlands region. It would also provide for a relief from tax sharing.
Under the current system, 14 municipalities participate in tax sharing in the region, with eight of those municipalities each paying as much as $3 million annually into a fund while the other six split the proceeds. Among those paying each year are Secaucus and North Bergen, both of which have adamantly protested the system as outdated and unfair.
The new bill would eliminate the need for municipalities to contribute into the system, while still allowing the other municipalities to continue receiving funds. The funding would be replaced by a 3 percent hotel use assessment on all hotel room occupancies throughout the 14 municipalities.
The bill also calls for reestablishing the Hackensack Meadowlands Transportation Planning District. It is expected to begin moving shortly through the Assembly.
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