RE: [AsburyPark] Re: Loffredo Speaks - From both sides!

[Tyler, Mark]

Even if they have paid $30million to date at the time the beachfront was probably worth much more.  As I said in a post in 2001 property north and south of Asbury on the ocean was selling for $1,000 per sq. ft.  I believe just the intial transfer to Asbury Partners was 120,000 square feet.  You do the math.  That $30 million by their own admission is largely the purchase and improvements to their own property. It simply doesn't warrant any further gifts from the City.   -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] Sent: Thursday, January 06, 2005 12:55 PM To: AsburyPark@yahoogroups.com Subject: Re: [AsburyPark] Re: Loffredo Speaks - From both sides! In a message dated 1/5/2005 9:39:35 PM Eastern Standard Time, [EMAIL PROTECTED] writes: "In keeping with its commitment to support affordable housing and community initiatives in Asbury Park, New Jersey, Asbury Partners, LLC presented the City Council on November 5 with a $750,000 check, representing the second installment of a planned $7 million contribution. To date, the firm has donated $1 million and expects to make a third $1 million payment during 2004."  All payments made to date have been made late, with no penalties imposed.  Also, I would very much like to see the receipts, an independent audit or at least a spread sheet on the $30 million they claim to have spent.   Peace, Jim Keady Yahoo! Groups Links To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/   To unsubscribe from this group, send an email to: [EMAIL PROTECTED]   Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.