Several north Jersey mayors say the developer behind the American Dream mall has yet to make good on millions of dollars in payments their towns are owed, negotiated as part of the original deal when the complex was built. According to NorthJersey.com, operator and developer Triple Five owes $9 million to the surrounding towns of East Rutherford, Carlstadt and Secaucus, in addition to thousands of dollars due to 14 other towns in the Meadowlands area.
The dispute centers on whether American Dream meets the definition of being fully open. Local officials say the 2019 grand opening should have triggered the start of the payments in lieu of taxes agreement. Triple Five argues it’s not on the hook until the mall reaches 100% occupancy.
