The "jumbo" size of the bonding plan (set at $800 million in public bonds) for the proposed entertainment and retail complex slated to resurrect the Meadowlands in Bergen County, N.J., is raising eyebrows and sparking discussion among bond buyers and analysts. The thinking is that $800 million is a great deal of money in a weak market, and experts question whether the yield would be high enough to entice investors. The American Dream project, formerly called Xanadu, is being touted for the economic boost it will generate and jobs it will create.

"There is a certain preference for the nine-figure deal, because a larger offering means there will be more buyers," said William C. Rhodes, a public finance partner at Ballard Spahr. Although American Dream's precursor project, Xanadu, failed twice under two other developers, Mr. Rhodes told GARP: "It doesn't preclude anyone from doing the deal. It would have to put everyone's antenna up just an inch higher."

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