Encap's plan had called for two golf courses and upwards of2,000 residences. Although it had a promising start, the projectstalled earlier this year as Encap struggled to raise funds and wasissued fines from the New Jersey Department of EnvironmentalProtection for failing to control methane emissions from the siteand violating several state environmental protectionlaws. In September and October, the NJMC issued lettersthreatening to terminate Encap's development agreement on Nov. 20unless the company resumed work on the site and paid a $16-millionsecurity guarantee. On Oct. 5, the State EnvironmentalInfrastructure Trust cut Encap off from the $300-million pool oflow-interest loans that were issued to cover the costs of theproject.

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According to GlobeSt.com's source, Trump is in the process ofretaining a new master planner for the site. Although no plans havebeen finalized, Trump envisions an ambitious plan for the site thatincludes a single, world-class golf course designed by worldrenowned golf course architect Tom Fazio, who designed the TrumpNational Golf Club in Bedminster.

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Also likely in the works for the site are a hotel and morehousing than Encap's plan called for. The source estimates it willtake between three and four months to finalize a plan, and theredevelopment could build out to a cost "in excess of $5 billion."The first step will be to complete the remediation of the site,which lies just off the western spur of the New JerseyTurnpike.

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The New Jersey Meadowlands Commission was not involved in thedeal and declined tocomment.

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