TRENTON – Senate President Richard J. Codey (D-Essex) today released the following statement on news of Xanadu’s opening being delayed due to a loan default by one of the project’s lenders:
“This is the icing on the cake that flopped before you could get it out of the oven. This would be a tremendous disappointment in any economic climate, but given the dire straits we’re in now, it’s a huge setback to a region that was relying heavily on the project for job creation and revenue.
“Xanadu’s project managers need to get their heads out of the sand and answer to the severity of the situation and whether completion is even feasible at this point. Otherwise, the only use I see for the project is to haul it off, plop it down in Central Park, and tell everyone it’s modern art. I hate to say ‘I told you so,’ but this project has obviously turned into ‘The Mistake at the Meadowlands.’”
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