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Xanadu : Governor Murphy Touts American Dream Investment in New Jersey’s Economy

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the staff of the Ridgewood

EAST RUTHERFORD NJ,  Recognizing the economic significance of the American Dream project to the State and New Jersey’s working families, Governor Phil Murphy today visited with construction workers at the three million square foot entertainment, retail and dining complex. The Governor expressed his appreciation to the men and women of the building construction trades and the Bergen County Building & Construction Trades Council for their contributions to the growth and expansion of New Jersey’s economy.

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OUR TURN NJ PULLS PLUG ON PAID MEDIA CAMPAIGN PUSHING NORTH JERSEY CASINOS

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Current Climate, Polling Data, Lack Of Specifics Make Campaign Untenable

September 22, 2016

the staff of the Ridgewood blog
Roseland NJ, Paul Fireman and Jeff Gural are today reluctantly announcing the suspension of the paid media component of the statewide OUR Turn NJ campaign.  In doing so, they issued the following joint statement:“We believe deeply that gaming expansion to Northern New Jersey is a remarkable opportunity that should not be squandered. We have committed $4 billion in private investment to this state to create world class resort destinations with gaming. The benefits include 43,000 new jobs and hundreds of millions of dollars in recaptured revenue — a rare opportunity for New Jersey.  In addition, as New York debates allowing gaming in New York City, it is critical that we beat them to market or risk losing this opportunity permanently.

“The data, however, speaks for itself. The current political climate in New Jersey and voters’ concerns about the lack of details relating to the effort have proved overwhelming. Even knowing that an out-of-country gaming company that sends New Jerseyans’ gaming dollars to Malaysia is funding opposition ads does not have an impact.  As such, with great reluctance we have decided to suspend the paid media component of the statewide campaign.”

Recent internal and third-party polling data have noted how difficult the current climate is.  As noted in the attached internal polling summary, “Voters have a very negative outlook on the direction of the state and have extremely low confidence that the revenue promised in the Casino Expansion Amendment will be delivered as it is promised. Just 19% of New Jersey voters believe that the state is headed in the right direction. And an even lower proportion (10%) have a high level of confidence that the state will deliver upon the promised revenue as stated in the ballot measure.”

The summary also notes that when asked to explain why they have low or no confidence in the revenue being delivered as promised in the amendment, 50% of respondents say it is because politicians will use the funds for their own priorities, while another 30% volunteer that it is a concern for them.

The polling shows that, while there are strong arguments to be made for the benefits of gaming expansion, “Respondents react very strongly to reasons to oppose the Amendment, which play to the lack of specifics and distrust directed at state government in Trenton.  For comparison, the highest testing positive message is viewed as a very strong reason to support the measure by 48% of voters.  The four negative messages tested in the survey all receive anywhere between 56% to 60% of voters who say that each one is a very strong reason to oppose the measure.”

Polling released earlier this week by Rutgers-Eagleton reinforces this voter dissatisfaction.  In that poll, only 25 percent of those surveyed believe New Jersey is headed in the right direction, while 68 percent say the state has gone off on the wrong track. The poll is available at:https://eagletonpoll.rutgers.edu/rutgers-eagleton-Christie-casinos-NJ-Booker-Menendez-Sept2016/

The current campaign to expand gaming is mirroring New Jersey’s first efforts to legalize casino gaming in 1974.  In that year, the New Jersey voters rejected a ballot initiative to legalize gaming due to a lack of specifics in the ballot question about where casinos would be located.  Two years later, a revised ballot question passed.  One of the main reasons the 1976 question passed, unlike the 1974 one, was that it was more specific in nature. The 1974 campaign indicated that casinos would most likely be in Atlantic City, but the resolution itself did not indicate a specific location. Thus, proponents of the 1974 resolution “later admitted that a large number of voters apparently rejected the proposal simply because they did not want to see casinos in their own community.”[1] In 1976, the resolution clearly stated that casinos would only be legal in Atlantic City, making voters far more comfortable with the idea.

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State agency holding special meeting on American Dream Meadowlands financing

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BY JOHN BRENNAN
STAFF WRITER |
THE RECORD

The board of the New Jersey Sports and Exposition Authority has been called into session on Tuesday for a special meeting regarding the issuance $1 billion in bonds sale that would help fund the completion of the American Dream Meadowlands shopping and entertainment project.

It is the second year that the board has been called into session in August for the same purpose. A year ago, the project’s developer, Triple Five, requested the meeting because its executives said the Bergen County Improvement Authority — which had been scheduled to issue a segment of the bonds — would not be able to finalize its approvals within the 30- to 60-day window in which they said the bonds needed to be issued.

https://www.northjersey.com/news/state-agency-holding-special-meeting-on-american-dream-meadowlands-financing-1.1641976

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After years of Squandering Billions Identity crisis for NJ sports authority

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 “Jim” McGreevey’s Xanadu 

After years of Squandering Billions Identity crisis for NJ sports authority

JUNE 28, 2014, 11:48 PM    LAST UPDATED: SATURDAY, JUNE 28, 2014, 11:51 PM
BY JOHN BRENNAN
STAFF WRITER
THE RECORD

With its finances in the red and its role sharply curtailed, questions are being raised about the long-term future of the agency that put New Jersey on the map of big-time sports.

But no matter what its fate, the hard truth is that the New Jersey Sports and Exposition Authority, which once netted tens of millions of dollars annually from The Meadowlands Racetrack and Giants Stadium, will likely be a lingering financial liability for state taxpayers.

A series of decisions by officials over time have left it marooned, with significant structural costs and little means to pay for them other than dipping into the state treasury. The agency continues along, its prime attractions now in private hands, sagging under obligations undertaken during more flush times and with a payroll that — while pared significantly — still includes executives with some of the highest salaries in state government.

“There are certain obligations entered into by prior administrations that we’re going to be living with for the next 25 years,” said Wayne Hasenbalg, who makes $225,000 as president of the authority. “Some of these costs we inherited — even if the authority went away today — are still going to be somebody’s obligations.”

Among those obligations are long-term pension costs for retired workers, more than $6 million in annual payments due to East Rutherford as the host town of the Meadowlands Sports Complex and $4 million per year toward operating costs of the state Racing Commission.

– See more at: https://www.northjersey.com/news/identity-crisis-for-nj-sports-authority-1.1043202#sthash.Ddvgl4c0.dpuf