Posted by Governor's Office on 18:09:48 12/16/04

NEWS RELEASE

Acting Governor Richard J. Codey
December 16, 2004

FOR MORE INFORMATION:
Kelley Heck - 609-777-2600

CODEY ANNOUNCES MEADOWLANDS XANADU DEVELOPER WILL PROVIDE ADDITIONAL $15 M FOR TRAFFIC MITIGATION

(TRENTON) - Acting Governor Richard J. Codey today announced Mills / Mack Cali will pay an additional $15.25 million for traffic mitigation projects that will help offset the traffic associated with the Meadowlands Xanadu project.

The news is part of the larger announcement that the State Department of Transportation and Sports & Exposition Authority have completed their long-term analysis of Meadowlands Xanadu's potential traffic impact on the Meadowlands region.

"As someone from Essex County, I understand the problems congestion causes," Acting Governor Codey said. "I am very pleased with Mills / Mack Cali's agreement to help pay for improvements that will reduce the Meadowlands Xanadu's traffic impact. This is a great way to begin for Meadowlands Xanadu, which is expected to create 21,000 construction jobs over six years and nearly 20,000 full-time jobs by 2012.

The report's action plan identifies a number of major road and ramp improvements, totaling $71 million, that will need to be made to help alleviate the Meadowlands Xanadu's impact on a road network that is already experiencing congestion. The Department of Transportation's preliminary estimate is that construction will begin in 2007 and be complete by 2009.

Under an agreement announced today, the Department of Transportation will contribute $21.5 million toward the total cost; the Sports & Exposition Authority will provide $3.25 million; and the New Jersey Turnpike Authority will contribute $31 million.

Also under the agreement, Mills / Mack Cali will contribute $15.25 toward the newly identified improvements. That is in addition to the $65 million that Mills / Mack Cali has pledged for infrastructure and traffic improvements on and off of the Meadowlands Xanadu site.

"This is a significant announcement that bodes well for Xanadu," said NJDOT Commissioner Jack Lettiere. "This additional funding is necessary to mitigate the impact on surrounding roads by the proposed Meadowlands Xanadu development."

"I'm pleased that everyone stepped up to the plate to ensure traffic will run as smoothly as possible in the Meadowlands region," NJSEA President and CEO George Zoffinger said.

The report's plan of action identified the following improvements, totaling $71 million:

* New Jersey Turnpike Interchange 16 West and Route 3 Westbound On / Off Ramps
* Paterson Plank Road and Murray Hill Boulevard (including Gotham Parkway)
* Paterson Plank Road and Route 17 Ramp
* Paterson Plank Road and Route 17 Bridge
* Route 3 Eastbound off-ramp
* Route 3 Eastbound flyover
* Various Route 17 intersections

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Photos and audio and video clips from Acting Governor Codey's public events are available in the Governor's Newsroom section on the State of New Jersey web page at http://www.nj.gov/gov_newsroom.html

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