Kyrillos Calls for Firing of CWA Workers in ‘Sick-Out’ That Left 174 Disabled Residents Stranded

Middletown-  In response to an apparent ‘sick-out’ staged by Monmouth County SCAT bus drivers, Senator Joe Kyrillos (R- Monmouth/Middlesex) called for the immediate firing of the 17 CWA workers involved:

“It is outrageous that 174 disabled and elderly clients who depend on SCAT were stranded by what appears to be a coordinated effort by employees to disrupt service without notice,” said Kyrillos.  “The actions of these workers is completely unbecoming of any public servant, and should make every taxpayer in Monmouth County furious.  CWA, the union representing these employees, needs to denounce their members for putting the well-being of these vulnerable individuals at risk, and the employees in question should be fired.”

Seventeen SCAT workers, including fourteen bus drivers for the developmentally disabled and senior citizens, took sick leave with no notice on Friday, February 25th- the same day as a coordinated demonstration organized by labor leaders at the State Capitol.  Service was disrupted for 174 clients who take SCAT buses to medical appointments or work.

“The rights of workers to demonstrate, protest, and take appropriate leave from work for personal purposes are not disputed,” Kyrillos stated.  “However, it is not their right to abuse sick leave and disrupt a system many people have come to rely on.  In fact, it is a breach of contract and should be punished to the fullest extent possible.  This type of behavior not only hurts the people SCAT serves, it harms the reputation of all public workers.”

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Menna Supko & Nelson LLC Wins Turnpike Bid Protest

Forces Rescission of Pre-Qualification Previously Granted By Authority In
Relation To Extra Heavy Duty Towing and Recovery Services Contract

On February 23, 2011, Menna Supko & Nelson LLC attorneys Brian M. Nelson and Michael P. Supko, Jr. won a bid protest before the New Jersey Turnpike Authority (“the Authority”) on behalf of our client, B&L Towing & Recovery of Carteret, which had bid on a highly valuable contract to provide extra heavy duty towing and recovery services on one of the busiest sections of the New Jersey Turnpike.
 
There is a very difficult burden to overcome in such proceedings.  Not only must the Authority essentially admit error in accepting unqualified contractors or bids, but the law provides the Authority extraordinary discretion in making determinations interpreting its own bid specifications and needs.  Nevertheless, through a hearing conducted by the Authority in which its own witnesses testified against our client’s position, we were able to demonstrate that the Authority overlooked important written interpretations of its own specifications resulting in a determination that our client’s primary competitor was not qualified to bid.
 
The New Jersey Turnpike is one of the most heavily travelled roadways in the nation upon which millions of dollars in interstate commerce takes place every day.  To keep things moving when accidents occur, the Authority privately contracts for extra heavy duty towing and recovery services that must be provided on a 24/7/365 basis by only the most experienced contractors with millions of dollars of specialized equipment that can quickly and safely remove large tractor-trailers and their loads from the roadway.  Accordingly, the Authority drafts highly detailed pre-qualification and bid specifications to ensure that only the most highly qualified contractors with the proper equipment are pre-qualified to bid on such contracts.
 
Like many pre-qualification or bidding proceedings, there is a period for written questions to be submitted with written answers being provided by the contracting entity that become part of its specifications.  Frequently this valuable process is overlooked by both bidders and contracting entities, which can use it to their competitive advantage to clarify vague or ambiguous specifications.  While contracting entities have significant discretion, they must still play by the rules they are subject to and the specifications they establish. Further, all too often government entities and private bidders fail to conduct adequate due diligence regarding the growing body of laws and regulations governing public bidding processes. Specifications are also frequently overlooked and merely copied from other entities without a complete understanding of the terms and conditions contained therein that reduce competitiveness or cause other problems, outdated or inapplicable forms are used, and most State and local pay-to-play regulations continue to be misunderstood.
 
New Jersey has hundreds of public entities, authorities and commissions that have been subjected to increased scrutiny recently by the State Comptroller, which has through numerous reports now, highlighted poor or improper bidding practices by many governmental entities.
 

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The Lincoln Club of New Jersey is Launched

Newly Constituted Political Club Plans Greater Engagement and Relevance

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Governor Christie Releases Fiscal Year 2012 Budget Proposal

Trenton, NJ – Advancing his vision for a New Normal in state budgeting, Governor Chris Christie today presented a $29.4 billion budget for Fiscal Year 2012 that cuts real spending for a second consecutive year. The Governor’s Budget proposal includes $200 million in focused tax cuts, provides additional property tax relief, increases school aid and funds a reformed state pension system, while preserving or increasing funding to protect our state’s most vulnerable citizens. The Fiscal Year 2012 Budget marks a departure from the Trenton tradition of budgeting to meet deficit projections that embrace wish-list spending by legislators and assume continuous funding increases that irresponsibly ignore actual revenue sources and the fiscal health of the state. 

The Governor’s Budget – which reduces real spending by 2.6 percent from the current fiscal year – hits the reset button on the state budgeting process and starts with the refreshing assumption that budgeting and spending must be reality-based and zero-based. The New Normal means developing a bottom-up approach – establishing priorities and funding them based on revenue that is actually available and predictable versus the old approach of assuming every line item and program will automatically be funded at the same or higher level than prior years.

“The old way of budgeting and thinking must be stricken from our collective minds if we are to successfully emerge from this fiscal crisis with permanently reformed budgeting and spending habits,” Governor Chris Christie said.  “This is a new paradigm for state government – a New Normal – that cuts and spends responsibly, incentivizes our local governments to do better with what our taxpayers entrust to them, and causes businesses to feel welcome and want to stay and expand or relocate to our state.” 

The Governor’s Budget proposal adheres to necessary spending and budgeting discipline, but also meets New Jersey’s most vital spending priorities.  Among those priorities in the budget:

·         Increases education aid to every school district in New Jersey by a total of $250 million;

·         Fulfills the statutory commitment to make a $506 million payment to a reformed state pension fund, representing the first funding to the defined benefit plans since fiscal year 2009;

·         Provides $200 million in job-creating, strategic tax cuts that are responsible and sustainable;

·         Doubles funding for the Homestead Rebate to provide direct property tax relief in the form of a property tax credit under the newly named Homestead Benefit program;

·         Protects municipal aid and keeps funding at fiscal year 2011 levels to help towns meet the new 2 percent property tax cap (while decreasing by 10 percent the category of Special Transitional Aid to cities, in keeping with the Governor’s pledge to end cities’ reliance on the aid as they adopt best-practices budgeting to improve fiscal and management reforms); and

·         Increases and secures New Jersey hospital funding by a total of $20 million, and increases funding for student financial aid by the same amount.

The Governor’s Budget takes all possible steps to maintain the safety net for New Jersey’s most vulnerable and at-need individuals and families.  From prescription drug aid for seniors to helping low-income tenants stay in their homes, the Governor’s Budget includes billions of dollars and:

·         Preserves critical spending and fully funds the fiscal year 2011 increases to the Pharmaceutical Assistance to the Aged and Disabled (PAAD) and Senior Gold Prescription Assistance Programs without increases in co-pays or eligibility – keeping it one of the most generous such benefit programs in the nation;

·         Allocates $20.4 million to help the developmentally disabled lead richer, happier lives through new community placement and services, and funds day programs and other services; similarly, the budget continues and expands funding for the requirement that the state expand the number of residential and community settings for New Jersey’s mentally ill;

·         Preserves the current level of support for higher education, after years of cuts, while increasing student aid programs by $20 million and providing $15 million for capital improvements at community colleges;

·         Provides resources to keep 4,300 low-income citizens in their homes and apartments, including $25 million from the New Jersey Affordable Housing Agency Trust Fund and $9 million from the Housing and Mortgage Finance Agency; and

·         Avoids an increase in NJ Transit fares and expands bus service to select growth markets.

The damage caused by years of fiscal mismanagement, coupled with the lingering effects of the national recession, will continue to restrain state spending for years to come. The reality is that the New Normal of the current economic and fiscal climate necessitates more painful choices in how the state allocates finite taxpayer dollars.  Facing up to those realities, the proposed budget continues on the path of making difficult, often painful choices in nearly every department.  Funding in even worthwhile, popular programs is reduced or eliminated in order to fund priorities.

Governor Christie will continue to insist that the shared sacrifice be spread among state employees as well, including in payment of a fair share of medical costs.  By increasing co-payments and premiums to levels still below what federal employees pay, the state will save $323 million that will be used to pay for other critically important programs – and prevent increases in some of the highest sales, income and property taxes in the nation.

Finally, to pave the way for the best possible outcome for our state and its people as we deal with the New Normal and emerge from recession, the Governor intends to better position our businesses and attract new ones with tax cuts, reform and incentives to spur job growth and business expansion. To that end, he proposes a comprehensive but phased-in program of $2.5 billion in job-creation incentives over the next five years.  As part of the program, Governor Christie is proposing for Fiscal 2012  tax cuts and reforms resulting in approximately $200 million in savings for businesses. 

The package outlined by the Governor increases the state’s competitiveness in a responsible and sustainable manner by providing critical tax reform and incentives across a variety of tax-policy areas, including: loss carry-forward relief for small businesses, a reduction of the S-corporation minimum tax, increasing the credit allowed for research and development investments, exemptions for business software technology reinvestment, increasing funding for economic development programs, and the phasing-out of the Technology Energy Facility Assessment to provide needed relief from New Jersey’s already-high energy costs.

Governor Christie has committed to only putting in place tax cuts and incentives that are paid for within the context of a Constitutionally-balanced state budget.  By providing for a phase-in of the program, the fiscal impact rises with the expected expansion of the state’s economy while minimizing the impact on the state budget each year.

The budget proposal, a representation of the Governor’s commitment to maintain fiscal discipline, also outlines a bold reform agenda to take on the big issues facing New Jersey, including the Governor’s comprehensive reform plans to restore fiscal sanity to out-of-control pension and health benefits systems, make 2011 the Year of Education Reform to bring the opportunity of a high-quality education to every child, and the pro-growth, responsible package of tax reforms and incentives to create Jersey Jobs and increase New Jersey’s competitiveness, as outlined above.

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Wall Committeeman George Newberry enters Freeholder race

WALL TOWNSHIP – Wall Township Committeeman and former Mayor George K. Newberry announced that he is seeking the Republican nomination for Monmouth County Freeholder. 

“Being born and growing up in Monmouth County, I know first-hand what a tremendous jewel Monmouth County is. It is with that value in my heart for this County that I announce my candidacy for Freeholder,” he says.

“I believe I demonstrated as Mayor and as a Wall Township Committee member that I have the experience, knowledge and values to be an effective member of our Freeholder team, and I ask for the support of my party to place my name on the ballot,” he adds.

Newberry says that thanks to many decades of Republican leadership, Monmouth County is envied for having a high bond rating, low county taxes and the finest parks, recreational programs and library services.  He says he plans to continue on the strong foundation laid by previous administrations and use his many years of business experience overseeing multi-million dollar budgets and large commercial projects as a member of the Freeholder Board.

“Today’s tough economic times call for vision and experience in controlling spending and waste. In continually controlling costs the Freeholder Board must keep in their vision what Monmouth County has become and make sure the high level of regard many have for Monmouth will remain. I promised the people of Wall and will promise the residents and businesses of Monmouth County that as I work toward efficiencies in budgets and they look in the future at the town they know and the County they love those places will be no less than what they envision them to be today. As a senior project manager for a large contracting company, I have hands-on experience negotiating contracts, budgeting, managing a large staff and making a dollar go further,” he says.

Living in Wall Township and working for 25 years in the Bay Shore area, as well as assisting his Father, who until his recent passing, lived in Cream Ridge, has given Newberry a bird’s eye view of the County on a daily basis for many years.

Newberry, age 55, traces his heritage back at least five generations in Monmouth County. He has been married to his wife Jeanne, formerly of Rumson, for 35 years. They have a son, Bill, and daughter, Beth. 

Mr. Newberry has been a member of the Wall Fire Company #1 since 1988 and served as Chief for five years.  A member of Wall Kiwanis, he was named VFW Citizen of Merit in 1996 and Wall Township Citizen of the Year in 2005.  He was the second gentleman to serve as president of his local PTA in his 120 year old elementary school and is a participant of the Ocean Grove Camp Meeting Association as well as St. Paul’s United Methodist Church, Ocean Grove. He has volunteered with The National Park service in West Orange and served as a member on the Wall Township planning board as well as rent stabilization board. Newberry has been a member of IBEW Local 400 electrical workers union since 1977.

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MANALAPAN MAYOR LUCAS ANNOUNCES CANDIDACY FOR MONMOUTH COUNTY FREEHOLDER

Manalapan Mayor Andrew Lucas announced today that he will seek the Republican nomination for Monmouth County Freeholder.

“I am proud to announce my candidacy for the Monmouth County Board of Chosen Freeholders today,” said Lucas. “Prior Freeholders have set a tradition of fiscal responsibility and visionary planning, making Monmouth County one of the best places in America to live, work or visit. I intend to build upon this tradition and I believe my experience makes me the best candidate to do so.”

Lucas, a lifelong Monmouth County resident who was raised on a working farm in Manalapan, cited his broad life experience as a major asset.

“In these difficult economic times, I believe my education and finance background is definitely a major asset. I think my record in Manalapan of cutting over $2 million in wasteful spending and being at the forefront of sharing services to create more efficiency in government bears that out. I also know being raised on a farm, as well as now owning my own farm, has given me an appreciation for hard work and a respect for the environment that will allow me to serve the people of Monmouth County well.”

Mayor Lucas is a principal owner of Lucas Capital Advisors, an investment management firm. He has a degree in Economics from Princeton University. He is also the owner of Walnut Grove Farm in Manalapan. He has served on the Manalapan Township Committee since 2005, during which he has served three terms as Mayor.

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Governor Christie Signs Landmark Legislation to Revitalize Atlantic City

Legislation marks key step in Christie Administration’s comprehensive plan to renew regional economy

Trenton, NJ – Today, Governor Chris Christie signed into law sweeping legislation to enact his reform plans to revitalize the ailing gaming and tourism industries in Atlantic City, and set the region on a new course for economic growth, job creation and prosperity.  Recognizing the significance and importance of Atlantic City’s regional economy to the state as a whole, Governor Christie put forward a comprehensive, bold reform plan in July aimed at turning around the deep and unprecedented challenges facing Atlantic City’s gaming and tourism industries. 

The bills signed by Governor Christie today, S-11 and S-12, represent critical steps in following through on his commitment to the tens of thousands of New Jersey families whose livelihoods depend on the regional economy, and will set the stage for Atlantic City to once again be a world-class destination resort and an engine of job creation and economic growth.  S-11 authorizes the creation of a tourism district within Atlantic City, with the charge of improving public safety, public health, marketing and infrastructure projects and improvements; S-12 provides for the reform and modernization of New Jersey’s casino regulatory structure.

“The challenges faced today by the Atlantic City tourism and gaming industries have been a long time in the making, and significant steps are needed to stop the decline and set a new course of economic growth, job creation and return Atlantic City to the ranks of the best destinations in the world.  But, it can and must be done for the economic health of New Jersey as a whole,” said Governor Christie.  “Since we announced our plan for reform just over six months ago, we have already taken steps to secure that future – to stabilize the City’s finances and create jobs through new business investment.  Today, we are going much further to signal to businesses, to the public and to the people who call Atlantic City home that a new, brighter and more prosperous future is coming again.”

The signing took place at the site of the Revel casino resort, a 53-story, 6.3 million square foot, 3,800 room hotel and casino that, upon completion, will be the biggest such property in Atlantic City.  Governor Christie also announced the approval of $260 million in tax-increment financing by the New Jersey Economic Development Authority that will support much needed infrastructure improvements in the South Inlet neighborhood adjacent to the Revel development and pave the way for completion of the $2.5 billion project and thousands of new jobs.  The project estimates the creation of 5,500 permanent jobs, 2,600 construction jobs, 1,100 manufacturing jobs, 400 vendor/supplies jobs and 250 professional/consulting jobs.  Along with job creation associated with ancillary utility and infrastructure improvement projects, total job creation for the Revel project is estimated at more than 10,000 jobs.

The New Jersey Economic Development Authority also today approved a new policy requiring as a condition of any tax increment financing package of $50 million or more, including the Revel financing approved today, that the state receive success reimbursement payments from the project commensurate with the extent of state financial participation.

S-11 implements several critical elements of Governor Christie’s revitalization plan for Atlantic City.  The bill authorizes the Casino Reinvestment Development Authority (CRDA) to establish a tourism district within Atlantic City.  Within the territorial limits of the tourism district, CRDA will be authorized to establish land use regulations, implement a tourism district master plan, promote public health and safety initiatives, advance commercial development, undertake redevelopment projects and institute infrastructure improvements.  The bill also provides for the merger of the Atlantic City Convention and Visitors Authority into CRDA.  CRDA will also enter into a public-private partnership with a not-for-profit consisting of a majority of New Jersey casino licensees, through which they will commit funds totaling $30 million annually for the development and implementation of a marketing program aimed at promoting Atlantic City. In October, the Casino Association of New Jersey announced the formation of such a non-profit and the commitment of the casino industry to contribute at least $30 million annually to promote Atlantic City and support the tourism district.

S-11 directs the Attorney General and Superintendent of State Police, in consultation with the Mayor of Atlantic City and municipal law enforcement officials, to develop a public safety plan for Atlantic City to be implemented by a District Commander appointed by the Superintendent.  The plan will include the development of law enforcement best practices, the procurement and deployment of new technology and equipment, and the development and implementation of a coordinated law enforcement strategy to address public safety concerns both inside and outside of the tourism district.

S-12 reforms the state’s regulatory structure for casinos by modernizing, streamlining, and eliminating duplication in the regulatory statutes, many of which were authored more than 30 years ago.  Under the bill, the Casino Control Commission (CCC) is assigned the lead role in initial casino licensing matters as well as in adjudicating regulatory disputes.  The Division of Gaming Enforcement (DGE) is charged with focusing on the day-to-day regulation of all casino operations.  These changes move away from the duplicative and overlapping investigative, oversight, and regulatory functions previously held by the two-bodies and creates a more well-defined system of regulatory authority by the entities.

In addition, S-12 accounts for the significant technological advancements that have taken place since the inception of the regulatory statue by eliminating the current requirement that the Casino Control Commission be continuously present, through inspectors and agents, at all times during the operation of a casino.  The bill provides for registration as opposed to licensure of certain casino-related employees and removes certain periodic license renewal requirements.  The bill would, however, add a requirement for designated information to be provided periodically by licensees to the CCC and DGE in order to verify ongoing compliance with all legal requirements. 

Finally, the bill makes various other changes to state law to remove impediments to efficient and productive casino operations and provide additional flexibility in their operation. 

On July 21^st, Governor Christie welcomed and endorsed the recommendations of the New Jersey Gaming, Sports and Entertainment Advisory Commission chaired by Jon F. Hanson.  The actions taken today fulfill many of the goals outlined in that report, and move forward Governor Christie’s commitment to ensuring the growth and success of Atlantic City’s economy, and the state’s gaming and tourism industries.

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Beck, O’Scanlon, Casagrande Praise Governor’s Action on Wagering Bills

Trenton— Senator Jennifer Beck and Assemblymen Declan O’Scanlon and Caroline Casagrande (all R- Monmouth/Middlesex) today said that Governor Christie’s actions on off-track, exchange wagering, and pari-mutuel betting legislation will strengthen New Jersey’s horse racing industry. Governor Christie signed A-2926 and A-3200, which establishes a system of exchange wagering for in-state and out of state races and single pool betting, respectively. The Governor offered a conditional veto recommending minor changes to A-1705, which expands off-track and account wagering.

Senator Jennifer Beck

“Horse racing is vital part of our regional economy and helps preserve significant amounts of open space in our state. Exchange wagering and pari-mutuel betting will help the industry adapt to a changing market and consumer preferences and lend a much needed boost to the racing industry’s revenues. The Governor has also offered sensible revisions in his conditional veto of the off track wagering bill that I believe can and should be swiftly adopted by the Legislature.”

Assemblyman Declan O’Scanlon

“I have always believed that revitalizing Atlantic City and saving the horse racing industry do not have to be mutually exclusive endeavors. I am very pleased that the Governor has signed two bills that will help horse racing survive through innovative and creative betting instruments. I also want to thank him for working with and listening to racing advocates such as myself as he plots an improved course for the gaming industry as a whole in New Jersey.”

Assemblywoman Caroline Casagrande

“The most effective type of aid horse racing can receive is that which helps the industry stand on its own two feet. Exchange and single pool pari-mutuel betting are a step in the direction of doing just that. Off track betting is also a critical component of the equation for a stronger horse racing industry, and I call on my colleagues to swiftly take up the changes recommended in the Governor’s conditional veto which are neither unreasonable nor a threat to the overall objective of the bill.”

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Governor Chris Christie Takes Action to Ensure that New Jersey Communities Receive All Possible Aid for Storm Expenses

Governor Chris Christie signs his letter to President Obama requesting FEMA disaster relief this moring at the Monmouth County Hall of Records. Assembly Members Mary Pat Angelini, Caroline Casagrande and Dave Rible, background.

Trenton, NJ – 

To help New Jersey municipalities and counties recover costs from this week’s severe winter snowstorm, Governor Chris Christie today signed a letter to President Barack Obama seeking a major disaster declaration to secure federal funding and ensure New Jersey communities most affected by the storm receive all possible resources to address extraordinary and unforeseen costs from the snow emergency.

“My pledge is to do all we can to help our municipalities and counties in the aftermath of the blizzard, to clean up and to ease the storm’s financial impact,” Governor Christie said.  “I want New Jersey to be in the best possible position to receive disaster aid through a prompt application to the federal government and FEMA.

”In the face of such a ferocious and unusual winter storm, our Department of Transportation, State Police and other agencies mounted an effective response, maximized resources and worked tirelessly for days. The eastern municipalities and counties most impacted also did the best they could under very difficult circumstances. There are always concerns about how things could have gone better, but the fact is this was a rare and unanticipated force of nature that hit our state, and we owe our thanks to all those who worked tirelessly to get us through it.”

Also today, Governor Christie announced the distribution of more than $11.18 million in FEMA disaster aid from successful applications following major storms earlier this year.  Distribution of payments to municipalities and counties began yesterday and will continue through Monday.  Payment amounts to some of the hardest hit counties from those storms include, for example, $386,344 to Camden County, $308,936 to Burlington County, $291,612 to Gloucester County, $284,561 to Atlantic County, $278,638 to Cumberland County and $278,091 to Salem County.  Payments for amounts ranging from thousands of dollars to tens of thousands of dollars will go to dozens of other municipalities and counties.

In his letter to President Obama, the Governor noted that storm conditions in 13 counties exceed the standards set to qualify for federal disaster assistance.  The qualifying counties are Atlantic, Bergen, Cape May, Cumberland, Essex, Hudson, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset and Union.  New Jersey, through data being collected by the State Police Office of Emergency Management, will provide additional supporting information following the completion of a Preliminary Damage Assessment pursuant to FEMA’s Snow Assistance Policy.

The snowfall, which began the morning after Christmas, broke many of the historic records established and maintained by the National Weather Service and National Climatic Data Center, as described in an attachment to the Governor’s letter.

“In light of these severe conditions, federal assistance is critical to properly and fairly mitigate the financial impact of this major snowstorm on State and local budgets, which are both currently under tremendous pressure due to severe economic conditions,” Governor Christie wrote in his letter to the President.

Governor Christie urged counties and municipalities to prepare damage and cost assessments as quickly as possible to move the aid application process along as expeditiously as possible. 

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Developers of Mall of America, Most Visited in the World, Sign Letter of Intent to Transform Meadowlands into Premier Entertainment and Retail Destination

EAST RUTHERFORD, N.J. (December 23, 2010) – New Jersey Governor Chris Christie and the consortium of lenders that own the debt on Meadowlands Xanadu (“Lender Group”), announced today that Triple Five, owner of Mall of America, has signed a letter of intent with the Lender Group, subject to final documentation, to revitalize the Meadowlands complex. The developer plans to transform the existing space into a premier tourism, entertainment and retail destination for New Jersey residents and tourists alike.

“I promised the people of Bergen County and the State of New Jersey that action would be taken to revitalize the complex at the Meadowlands and today I am delivering on that promise,” stated Governor Chris Christie. “This administration fully supports the progress being made and will be a true partner at every step in transforming the Meadowlands from a financial and economic drain into a vibrant destination so that New Jerseyans can begin to reap the benefits of the job creation and much-needed tax revenues this project will provide.”

“We’re glad to have Triple Five’s long-term investment in New Jersey and I am confident that the developers who created the most visited mall in the world, due to their vision and innovation, will transform the Meadowlands into New Jersey’s very own Mall of America,” concluded Governor Christie.

The announcement is the result of a more than four-month long review and negotiation process following the Lender Group’s action in August to take control of the previously stalled complex and expedite its revitalization.

Jon F. Hanson, Chairman of the Governor’s Advisory Commission on New Jersey Gaming, Sports and Entertainment, said “Solving this problem was a priority for the Governor, which is why we worked expeditiously to find a development group at the top of their game.  We’re moving ahead with a defined, realistic plan to turn the complex at the Meadowlands into a real economic engine.”

In 2011, the new developer will publicly unveil the company’s specific plans for the project.

“Today’s announcement follows an intensive and thorough process to select a developer that has the track record and expertise necessary to maximize the value of this development for all stakeholders,” stated Michael Beckerman, spokesperson for the Lender Group. “This decision is a significant step forward in the realization of this project as a world-class entertainment and retail facility, and the Lender Group looks forward to finalizing a transaction with Triple Five and working with them to deliver on the original promise of the development as a premier visitor destination and significant economic catalyst for New Jersey.”

The complex’s opening is expected to generate thousands of jobs and tens of millions of dollars in sales and payroll taxes for New Jersey, as well as significant revenue for municipalities in Bergen County through the PILOT program.

Triple Five is the owner of Mall of America in Minnesota and West Edmonton Mall in Canada, which attract a total of more than 60 million visitors annually, 50 percent of which travel more than 150 miles to visit the destinations.

“Building on the proven success of West Edmonton Mall and Mall of America, we are confident that Triple Five will transform the Meadowlands project into a world-class tourist destination. We have monitored the project since its inception and are uniquely positioned to complete the project and operate it successfully,” stated Paul Ghermezian, Senior Vice President of Triple Five. “A successful entertainment destination will attract millions of locals and tourists to the area, create jobs and generate substantial tax revenues. In addition, this project will become a source of local pride.”

“We applaud Governor Christie for his leadership and dedication to ensuring New Jersey’s taxpayers and constituents realize the full benefit of this exciting project,” Ghermezian concluded.

Triple Five owns and operates most of the non-retail venues in its shopping centers, including amusement parks, water parks, aquariums, miniature golf courses, hockey rinks, cinemas, concert event centre, specialty restaurants, live dinner theatres, hotels and more.

A trademark of Triple Five is effectively partnering with local, regional and federal governments to develop projects that meet the needs of the entire region. Working with leaders in Canada and the United States, the organization has helped to strengthen communities by contributing to the growth of other businesses. 

The Meadowlands project is a five-story retail and entertainment complex under construction in the Meadowlands Sports Complex in East Rutherford, N.J.

The Lender Group is being advised by Moelis & Company as financial advisor, as well as Sills Cummis & Gross and Weil Gotshal & Manges, LLP as legal counsel.

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