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: NEWS RELEASE

: Acting Governor Richard J. Codey
: December 16, 2004

: FOR MORE INFORMATION:
: Kelley Heck - 609-777-2600

: CODEY ANNOUNCES MEADOWLANDS XANADU DEVELOPER WILL PROVIDE ADDITIONAL $15 M FOR TRAFFIC MITIGATION

: (TRENTON) - Acting Governor Richard J. Codey today announced 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.

: "As someone from Essex County, I understand the problems congestion causes," Acting Governor Codey said. "I am very pleased with Mills / Mack Cali's agreement to help pay for improvements that will reduce the Meadowlands Xanadu's traffic impact. This is a great way to begin for Meadowlands Xanadu, which is expected to create 21,000 construction jobs over six years and nearly 20,000 full-time jobs by 2012.

: 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 announced today, 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 Cali 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."

: "I'm pleased that everyone stepped up to the plate to ensure traffic will run as smoothly as possible in the Meadowlands region," NJSEA President and CEO George Zoffinger said.

: The report's plan of action identified the following improvements, totaling $71 million:

: * New Jersey Turnpike Interchange 16 West and Route 3 Westbound On / Off Ramps
: * Paterson Plank Road and Murray Hill Boulevard (including Gotham Parkway)
: * Paterson Plank Road and Route 17 Ramp
: * Paterson Plank Road and Route 17 Bridge
: * Route 3 Eastbound off-ramp
: * Route 3 Eastbound flyover
: * Various Route 17 intersections

: ###

: Photos and audio and video clips from Acting Governor Codey's public events are available in the Governor's Newsroom section on the State of New Jersey web page at http://www.nj.gov/gov_newsroom.html


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