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EAST RUTHERFORD, NJ-The developer of the American Dream project Triple Five saw its controversial retail and entertainment project move one step closer to approvals Tuesday evening as the East Rutherford Borough Council voted to approve major financial terms for the development.

The council by a 5-1 vote approved the issuance of $550 million in bonds to complete the project. In exchange, East Rutherford would receive $20 million upfront for the repayment of debt in connection with the borough’s new police and court building, according to The Record.

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