Subsidy Tracker Individual Entry

Company: 
Ameream LLC, Meadow Amusement LLC and Affiliates
Parent Company: 
Triple Five Worldwide
Subsidy Source: 
state
Location: 
New Jersey
City: 
East Rutherford
County: 
Bergen
Project Description: 

development of a mixed use project

Year: 
2013
Major Industry of Parent: 
real estate
Specific Industry of Parent: 
real estate
Subsidy Value: 
$390,000,000
Program Name: 
Economic Redevelopment and Growth (ERG) Program
Awarding Agency: 
New Jersey Economic Development Authority
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
11,650
Capital Investment: 
$2,581,558,701
Source of Data: 

The value of the subsidy is taken from: New Jersey Economic Development Authority Memorandum dated November 1, 2013 regarding Ameream LLC, Meadow Amusement LLC and Affiliates; online at: http://www.njeda.com/web/pdf/eda/11012013agenda.pdf. Information on the 2015 extension in available in a NJ EDA Memorandum from May 29, 2015; online at http://www.njeda.com/pdfs/agendas/05292015_Agenda.aspx. An overview of the project: Andrew George, ?EDA grants extension for updated American Dream project incentives application," NJ BIZ, May 29, 2015; online at http://www.njbiz.com/article/20150529/NJBIZ01/150529785/eda-grants-exten...

Notes: 

In November 2013, NJ EDA approved $390 million over 20 year in certain tax reimbursement to Ameream LLC, Meadow Amusement LLC and Affiliates, an affiliate of Canada-based Triple Five. The grant is for a mixed use project that will include a mall and an amusement park. The land on which the project will be built has been approved for a PILOT but the value of the property tax abatement is unclear. Since 2013, the project has expanded and in May 2015, EDA prolonged a deadline for the developer to submit an updated application for the grant. Overlaps with main Subsidy Tracker data: a 2013 entry for $390 million for the developer under Economic Redevelopment and Growth (ERG) Program.

Source Notes: 
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