People say I'm too technical in my posts but here goes anyway. There are differences between New York and New Jersey in development law. So it may be difficult to compare. In NY a large scale development must do an impact statement that covers more areas of concern than in NJ. At least a large scale residential one does. Although an impact statement was required by NJ for this development, its scope was more limited than in NY. The state review in NY seems to be more serious than it was here as well. It doesn't matter as much in NY if the municipality doesn't have experience because the state reviews a broader spectrum of impact issues.
As witnessed by the recent bidding war over the Jets stadium, every little bit of property must be appraised and bid out to the highest bidder. The sales of the Casino and CH, etc. just could not have happened in NY. Or at least not in the same way. The developer would not have legal title and the manner in which it was done here in Asbury is not even remotely legal in NY. In NJ they have passed laws so municipalities can sue after the development is done, rather than address the problems upfront. Obviously this is a different approach.
Nevertheless it'll be interesting to see how they compare. Although Asbury has an advantage in that it is closer to much of Manhattan and the Bronx than Coney Island.
-----Original Message-----
From: AsburyPark@yahoogroups.com [mailto:AsburyPark@yahoogroups.com]On
Behalf Of jerseyjohn99
Sent: Sunday, April 24, 2005 1:42 PM
To: AsburyPark@yahoogroups.com
Subject: [AsburyPark] Re: Looking to Past Glory
Fascinating article. I've found one major disparity between Coney
Island & Asbury Park. Coney Island has "Coney Island Development
Corporation", which seems to be similar to New Brunswick's DevCo.
According to their website:
http://www.thecidc.org/aboutus.html
"The Coney Island Development Corporation was formed in September
2003 by the Mayor, the City Council and Brooklyn Borough President.
The 13-member Board of the CIDC includes City officials, local and
Brooklyn-wide business and community leaders. It is charged with
spearheading and implementing a comprehensive planning process for
Coney Island and creating a coordinated economic development
strategy for the area. New York City Economic Development
Corporation (NYCEDC) Chief Operating Officer Joshua J. Sirefman
chairs the Board, and each of the members serves for a term of two
years."
Although Thor Equities is buying many of the stands & concessions,
business & community leaders will have a say in how Coney Island is
redeveloped.
We shall see in 10-15 years the difference between a Development
Corporation versus a private entity developer.
--- In AsburyPark@yahoogroups.com, [EMAIL PROTECTED] wrote:
> Food for thought: Read "Asbury Park" for "Coney Island."
>
>
> In Coney Island's Future, Looking to Past Glory By _JOSEPH BERGER_
> (http://query.nytimes.com/search/query?ppds=bylL&v1=JOSEPH
> BERGER&fdq=19960101&td=sysdate&sort=newest&ac=JOSEPH
BERGER&inline=nyt-per)
>
>
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