NJ Approves $390M Tax Break For Stalled Mega-Mall

Law360, New York (November 1, 2013, 3:50 PM EDT) -- The developers of a massive New Jersey entertainment complex at the Meadowlands, which Gov. Chris Christie once called "the ugliest damn building in New Jersey and maybe America," received state approval Friday for a $390 million tax break that will help complete work on the project.

The New Jersey Economic Development Authority expects the project to be completed within six years, giving the tax break to shopping complex developer Triple Five Group Ltd., which also operates the Mall of America and the world's largest shopping mall, the West Edmonton Mall in Canada.

The massive tax break underpins roughly $800 million in...

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