Bergen Wants Xanadu Sales Tax Dollars

From the Star Ledger:

Bergen asks tax bonanza from Xanadu
BY DUNSTAN McNICHOL

Several state lawmakers from Bergen County want to keep a big chunk of the sales tax dollars generated by the Meadowlands Xanadu complex in their neighborhood.

A bill scheduled to be considered by the Senate Transportation Committee today would reserve 60 percent of the sales taxes generated at the shopping and entertainment complex for improvements to Route 3 and Route 17 in Bergen County.

For Bergen County, the plan would mean almost $17 million a year in dedicated funds to help bankroll improvements to local highways in danger of being overwhelmed by new traffic headed to the Xanadu mall.
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But critics say that money will come at the expense of residents in other parts of the state, and amount to little more than an additional public subsidy for a project that is already scheduled to benefit from public land and financing, as well as a $150 million rail line.
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"This is a terrible bill," said David Pringle, director of the New Jersey Environmental Federation. "Xanadu was labeled a boon to the state economy, now they're going to take money out of the state treasury to help pay for it."
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Tittel said he is concerned that if the Xanadu proposal succeeds, lawmakers and builders all over the state will seek to have tax revenues from their projects reserved for improvements that support their developments.

"This is a potato chip," Tittel said. "You can't have just one."