The sale of $1 billion in government bonds — a key financing element to ensure there is sufficient funding to complete the American Dream Meadowlands shopping and entertainment complex — may not be issued until early next year, officials said.
Tony Armlin, vice president of development and construction for Triple Five, the Canada-based conglomerate that is building American Dream, had said in an interview in September that the bonds would be issued "in the next several weeks." But Debbie Patire, a Triple Five spokeswoman, confirmed Tuesday a revised timeline for issuing the bonds that executives at the New Jersey Sports and Exposition Authority first described last week.
That state agency is expected to issue about $350 million in bonds that will be repaid to institutional investors via the transfer of Triple Five’s annual tax savings through a state grant.
Tuesday, December 01, 2015
by Atrios at 11:00