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Saturday, March 26, 2011

Union sues to stop bailout of Revel

Union sues to nix $261M NJ aid to Revel casino
By WAYNE PARRY

ATLANTIC CITY, N.J.

A union representing Atlantic City casino hotel workers is suing New Jersey to try to block $261 million in tax aid for the half-finished Revel casino project.

Local 54 of the Unite-HERE union filed the lawsuit last week against the state Economic Development Authority, but publicized it on Thursday. The EDA agreed last month to refund $261 million in taxes to Revel over 20 years to help restart the stalled project.

That aid guarantee was seen as instrumental in Revel obtaining the remaining $1.15 billion in private financing it needs to finish the casino-hotel.

The union claims the state violated open public meetings and records laws and wants the tax break canceled.

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