Sentence:  Edward Reichert, a New Yorker, was planning "a gigantic project" . . . to move in power excavation equipment to seek the storied "<WSD>money pit</WSD>". 
Meaning of the word marked with <WSD> tags:  Long-standing nickname of a complicated, seemingly man-made excavation on Oak Island in Nova Scotia, Canada, rumored to contain pirate treasure and which has been repeatedly and unsuccessfully probed at great expense.