Senate Committee passes Xanadu tax breaks

The Senate Economic Growth Committee Thursday passed $200 million in tax breaks for Xanadu, the long-stalled Bergen County mega-mall revived by Gov. Chris Christie. 

S2957 would add the Meadowlands as areas eligible for state economic redevelopment grants under the Economic Redevelopment and Growth Grant program.

The project has been taken over by Triple Five Group, owners of Minnesota’s Mall of America.

The bill became necessary after Christie announced the tax breaks last month. Soon after, the administration discovered it did not have the authority to grant them. Senate Committee passes Xanadu tax breaks