Senator Bob Gordon, D-Bergen, a sponsor of legislation which would impose a moratorium on the taking of horseshoe crabs to protect the food supply for the endangered red knot shorebird, speaks at a ceremonial bill signing of the legislation in the Governor

13 Oct: Gordon-Weinberg Encap Reform Legislation Signed Into Law

TRENTON – A bill sponsored by Senators Bob Gordon and Loretta Weinberg to require private entities under public contract to comply with stricter financing and transparency standards in an effort to avoid scandals like the EnCap debacle in the Meadowlands was signed into law yesterday by Governor Corzine.

“Public-private partnerships are important to create needed economic growth in New Jersey, but the people of our State deserve some guarantee for their investment,” said Senator Gordon, D-Bergen. “In the case of EnCap, hundreds of millions of dollars were funneled to an unqualified developer for one of the largest redevelopment projects ever undertaken in New Jersey. If private developers were required to invest more private capital and submit audited financial statements or risk losing public financing, the EnCap debacle might never have happened.”