By Real Estate NJ
The fight over a $1.15 billion bond sale that would help a developer complete the stalled American Dream Meadowlands project is now in the hands of a state appeals court.
A report by The Record said both sides in the dispute, including a state authority and a nonprofit group that opposes the bond sale, sent out formal filings on Tuesday. The court quickly responded by granting an expedited appeal process that requires both sides to make additional filings by the end of this week.
The organization, the New Jersey Alliance for Fiscal Integrity, was created late last month as the New Jersey Sports & Exposition Authority voted on two measures that would allow the bonds to be issued. Developer Triple Five is seeking to have the bonds issued through a Wisconsin financing agency, which is aimed at helping eliminate the risk to New Jersey taxpayers, but the opposition group has asked the authority to hold off on issuing the bonds pending the appeal.
For more, see Tuesday’s story by The Record.
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GOING YARD: At Rutgers, the transformation of the College Avenue Campus is coming into focus (NJBIZ)
Talk of 7 train to Secaucus resurfaces in Port Authority study (Politico New Jersey)
Developers to build new Jersey City public school (The Jersey Journal)
Editor’s note: The Rundown is a regular feature by Real Estate NJ in which we recap commercial real estate stories and headlines from across the state.