NEWARK-He came to talk to the press about his opposition to a proposed shopping mall-anchored mixed-use complex on 90 environmentally sensitive acres in the Hackensack Meadowlands. The Virginia-based Mills Corp. wants to do the mega project, but there is considerable opposition. However, the questions after the press conference in Lyndhurst, NJ inevitably turned to the $325-million sports arena proposed for Downtown.

The new arena would become the new home of the New Jersey Devils and New Jersey Nets franchisees. Just before she left office, Gov. Christie Whitman, now head of the EPA, announced she had reached a verbal agreement with the teams' owner, YankeeNets, for a state and local funding package of $125 million.

Right after he was sworn in, Acting Governor Donald DiFrancesco quickly disavowed the supposed deal, saying he wanted to work up his own version. That was taken as a disavowal of the whole project–which it wasn't. “It's going to get done, and it will get done by July 1,” DiFrancesco told reporters after the latest press conference.

July 1 is the key phrase. YankeeNets officials had made it clear that they've gotten impatient–they want to be in their new arena by the 2004 season. In order for an aid package to be worked on, it would have to be in the state's 2002 budget, which has to be ready by this July 1. Hence, DiFrancesco's self-imposed deadline.

In other arena news, DiFrancesco will tap Port Authority of NY/NJ head Lewis Eisenberg to work out a deal that keeps everyone satisfied, both public sector and private sector. Also, state officials are said to have called on Salomon Smith Barney to advise and consult on the numbers of any deal that is struck.

The fate of the Continental Airlines Arena is another issue. If it's torn down, Bergen County officials want to replace it. One possibility–the Mills mega mall that no one wants at its current proposed site not far away. Finally, the NJ Sports Authority, which operates the Continental Arena, has approached racetrack developer International Speedway Corp. about evaluating the Meadowlands for an auto racing venue with seating for as many as 200,000.

Instant Insights /

DiFrancesco Is Back on the $325-Mil Arena Bandwagon

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