EDISON - Many News 12 New Jersey viewers say that they are very concerned about the American Dream megamall complex that is being built at the Meadowlands in East Rutherford.
The New Jersey Sports and Exposition Authority announced last week their decision to authorize $1.1 billion in bonds to fund the project.
The NJSEA says that the bond holders will assume all of the risk and New Jersey taxpayers won’t be affected. But a Kane In Your Corner investigation found that this is not entirely true.
The investigation found that part of the sales tax money collected from the mall will be used to repay the bonds. This means that the money can’t be used for things sales tax normally pays for, like schools or roads.
News 12 New Jersey viewers had strong opinions about the project after the story aired.
Viewer Mary thinks that building American Dream will be a waste of money. “There’s so many more things to spend it on. Atlantic City to save, try to save the [Monmouth Park] racetrack,” she said.
Viewer Randy said, “None of the people that live in New Jersey want this thing here. Why does so much money, tax money, go to these projects when the roads are a disaster?"
But not everyone was opposed to the mall.
“I don’t mind paying some taxes for this megamall. Can’t wait until it opens,” said viewer Lawrence.
Developer Triple Five says that American Dream is scheduled to open in 2018.