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EnCap gets approval for 72-hole resort
NORTH ARLINGTON, N.J. - After months of planning and re-planning, the New Jersey Meadowlands Commission gave preliminary approval to EnCap Holdings LLC of Tampa, Fla., for its amended plan that would convert former landfills into four golf courses and a resort.
Phase I of the project will include the first 36 holes, a clubhouse and support buildings, two hotels, office buildings, a retail center and residential components in Rutherford, Lyndhurst and North Arlington. Phase II will comprise the second 36 holes and related amenities in North Arlington and Kearny.
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The agreement, which originated in May 2000, calls for EnCap to cap seven landfills - a total of 1,330 acres - and provide a base layer for the golf course development.
Under Phase I, EnCap will pay approximately $18 million to the commission, assume responsibility for the $3 million cost of lechate disposal, and provide closure and post-closure of the Kingsland landfill in Lyndhurst, generating an additional $45 million for the commission. Phase II will result in EnCap making payments of approximately $30.5 million. In all, EnCap plans to spend more than $1.2 billion on the project.
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