In this video press release, Assemblymen Gary S. Schaer and Fred Scalera (both D-Bergen/Essex/Passaic) discuss their legislation to protect New Jersey taxpayers by enhancing the protections and ove...
In this video press release, Assemblymen Gary S. Schaer and Fred Scalera (both D-Bergen/Essex/Passaic) discuss their legislation to protect New Jersey taxpayers by enhancing the protections and oversight surrounding public investments in private redevelopment projects.
The measure (A-2650) was signed into law by Governor Jon S. Corzine during a public ceremony in North Arlington, one of three Bergen County municipalities most serious affected by the EnCap collapse and the first town to call for an investigation into the now-defunct project.
Schaer and Scalera crafted the legislation following the collapse of the EnCap Mixed-Use Redevelopment Project, which squandered more than $300 million in public money from the state and Bergen County in an attempt to transform abandoned municipal landfills in the Meadowlands into golf courses and luxury homes.
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