Developers ante up $15m for Meadowlands projects.

Mills / Mack Cali will pay an additional $15.25 million for traffic mitigation projects that will help offset the traffic associated with the Meadowlands Xanadu project.

The news is part of the larger announcement that the State Department of Transportation and Sports & Exposition Authority have completed their long-term analysis of Meadowlands Xanadu's potential traffic impact on the Meadowlands region.

The report's action plan identifies a number of major road and ramp improvements, totaling $71 million, that will need to be made to help alleviate the Meadowlands Xanadu's impact on a road network that is already experiencing congestion.

The Department of Transportation's preliminary estimate is that construction will begin in 2007 and be complete by 2009. Under an agreement, the Department of Transportation will contribute $21.5 million toward the total cost; the Sports & Exposition Authority will provide $3.25 million; and the New Jersey Turnpike Authority will contribute $31 million.

Also under the agreement, Mills / Mack Call will contribute $15.25 toward the newly identified improvements. That is in addition to the $65 million that Mills / Mack Cali has pledged for infrastructure and traffic improvements on and off of the Meadowlands Xanadu site.

"This is a significant announcement that bodes well for Xanadu," said NJDOT Commissioner Jack Lettiere. "This additional funding is necessary to mitigate the impact on surrounding roads by the proposed Meadowlands Xanadu development."