SBD/Morning Buzz

Newark City Council Taking Up Prudential Center Revenue Proposal

The Newark City Council will meet today to take up a proposed revenue-sharing deal surrounding Prudential Center that "could bring an end to years of legal battles." City officials estimate the deal, worked out by Newark and Devils leadership, "will net the city" as much as $50M over the life of the arena lease, which is for "at least 25 years." A new parking deck, scheduled to begin construction as early as '14, "will bring in more revenue on top of that" (Newark STAR-LEDGER, 2/26).
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