Lighting Taxpayer Money On Fire

This is going to be a giant FAIL.

The Christie administration, lenders and a new developer have reached a deal to revive the vast Xanadu entertainment and retail complex, which sits forlorn and unfinished along a stretch of New Jersey highway after having burned through two owners and $1.9 billion, people involved in the negotiations said Thursday.

...

The new developer, the Triple Five group, will invest more than $1 billion in the seven-year-old project. And Gov. Chris Christie has agreed to provide low-interest financing and to forgo most sales tax revenue for a period of time, according to those involved in the negotiations, who declined to be named because they did not want to be seen as upstaging the governor.