Reidy does a nice job of summarizing the refinance on Asburypark.net. He notes: "We looked at the city's anticipated revenues for the next five years as well as the city's anticipated costs." I think we should be able to see the work-up. As far as I know the City did a 5 year budget for the 1st time in 2001 (because the state forced it after audit). I have found no evidence that the 5 year plan has been updated. The projected tax revenues and expense information is all important. If I were satisfied with the numbers I would consider voting for the incumbents. The fact that these numbers are not available and the tax abatement plan was modified in favor of the developer is probably the main reason I refuse to vote for any incumbents but Ed Johnson.
-----Original Message-----
From: AsburyPark@yahoogroups.com [mailto:AsburyPark@yahoogroups.com]On
Behalf Of Joe D'Andrea
Sent: Friday, May 06, 2005 7:10 AM
To: AsburyPark@yahoogroups.com
Subject: [AsburyPark] Re: City Manager on Debt Refi
Sorry John... after reading every word of the two articles you cite -- not just the two paragraphs you choose to quote --- it's clear that your cases have nothing in common with the Asbury Park plan. Nice try though. ~joe
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