Plans to fund the American Dream Meadowlands

SECAUCUS – The American Dream Meadowlands, the retail/entertainment complex formerly called Xanadu in East Rutherford, found more funding for its finish on Tuesday, Aug. 9, according to The Record. The New Jersey Sports Exposition Authority approved two resolutions to issue $1.1 billion in bonds, the report states.
According to the report, the Public Finance Authority of Wisconsin will serve a conduit of $800 million. The resolution also states that the NJSEA hasn’t decided to issue the bonds, the report stated. The NJSEA previously issued $350 million, according to the report. The addition to the bond agreement will bring the total for the NJSEA to $1.1 billion.
Work on the 93-acre site stopped in November 2015, due to postponed bonds, according to the Record. The American Dream Meadowlands was expected to open in summer 2017, but is now expected in 2018, the report stated.

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