"For the casino to be restored, much less CH …I don't think there
would be a bank …that would fund a restoration… what makes one think a
much more difficult restoration would ever occur."
Hopefully it's part of the deal, if not Loffredo assures us that if we
give the triangle to The Fish, he'll unleash $34 million to fully
restore the Casino; when is anybody's guess.
CH of course is guaranteed restoration under the terms of the sale;
that and a buck and a half will buy a cup of coffee. Fact is when you
score $2 billion of real estate development, there are numerous
peripheral costs that accompany the deal; doesn't matter if the bottom
line justifies these, the market demands it.
Restoration of our historic buildings is a necessary cost of doing
business, simply because they identify and define Asbury. The only
reason this issue exists is because council is ignorant of its
importance and Fishman is simply ignorant.
--- In AsburyPark@yahoogroups.com, "oakdorf" <[EMAIL PROTECTED]> wrote:
>
> For the casino to be restored, much less CH - unless they fund it
> themselves - I don't think there would be a bank out there - not
> even amboy - that would fund a restoration - unless of course, they
> had some potential tenants (strong ones)who will committ to some
> long term leases. In the end, the restoration of both will more then
> likely have to be funded in part by the state.
>
> Given the fact that haven't gone anywhere with the pavillions -what
> makes one think a much more difficult restoration would ever occur.
>
> Had the city today still had control over the pavillions, they would
> be able to dictate what they wanted built there and what the price
> would be.
>
> I'll leave it to dan to calculate the value of boardwalk retail -
> assuming an avg of 35$ sq ft for rent on the bw....each pav is worth
> at least $2m.
>
> Eminent Domain.
> "taking for public good".
>
> At least that would be an interesting court case. Should of been
> done with Konvitz on Springwood as well.
>
> SOS
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