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NJMC to EnCap: You’re Fired
(by Corey Klein - May 07, 2008)
After months of giving second chances, the New Jersey Meadowlands Commission has resolved to take all actions necessary to collect the insurance and clean hundreds of acres of landfills in Rutherford, Lyndhurst and North Arlington itself, without the help of Donald Trump.
Trump, whose organization became project executive of EnCap in November, told the state he would need more time to acquire enough financing to finish the landfill remediation project. He also asked for assurance that his plans for a grandiose golf course and housing development would get the thumbs up from the NJMC and the State of New Jersey.
Now, the NJMC will collect the "performance security" bond, $150 million available to the agency in case EnCap never came through with the landfill cleanup, and remediate the landfill itself.
Two weeks ago, Governor Jon Corzine in an interview with the South Bergenite said he was hesitant to end the NJMC’s contract with EnCap on advice from the attorney general, fearing a protracted legal battle would wind up leaving the contaminated land to lie fallow.
Since then, Trump presented a cleanup schedule and "unconditional agreements with potential financial backers." This was inadequate, according to NJMC director Bob Ceberio.
The commission decided to ditch the deal with EnCap in part because Trump advised them the project would take two years and would depend on more financing. While significant progress was made on the cleanup, the commission didn't want to wait on Trump's financing.
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