Senator Mike Doherty (R-23) said that the New Jersey Sports and Exposition Authority (NJSEA) is set to approve a billion dollar taxpayer handout to Triple Five Group, the Canadian developer of the decade overdue and billions over-budget American Dream Meadowlands project.
Sen. Mike Doherty called the billion dollar taxpayer handout set to be approved by the NJSEA for the developer of the American Dream Meadowlands project a “sweetheart deal.” (Wikimedia Commons)
“Triple Five claims this sweetheart bonding deal will have no impact on taxpayers and carries no risk, but that’s a lie,” said Doherty. “Not only will we give up tax revenues to repay bondholders, we’ll also likely lose additional sales tax revenue from the business American Dream siphons from the many nearby malls that do pay the full taxes they owe to the state.”
Triple Five claims sweetheart bonding deal w/ NJSEA has no impact on taxpayers & carries no risk, but that’s a lie https://t.co/vqy5dRaBdB