Schaer & Scalera on Passage of Bill to Prevent Another EnCap

In this video commentary, Assemblymen Gary S. Schaer and Fred Scalera (both D-Bergen/Essex/Passaic) discuss the 77 to 0 passage of their legislation to enhance the protections and oversight surrounding public investments in private redevelopment projects.

Schaer and Scalera crafted the bill (A-2650) in response to the disastrous failure of the EnCap Mixed-Use Redevelopment Project. The project, which aimed to remediate abandoned municipal landfills in the Meadowlands, collapsed earlier this year when EnCap declared bankruptcy after receiving more than $300 million in public money from state and Bergen County sources.