I agree with everything you say. i think the 16 years for the fast tracks started running last October. Government usually moves slow so we probably have at least a couple of years at a minimum and who knows how long as a maximum. You're right it was all said and people don't seem to care about the problems down the road- so what can you do?
-----Original Message-----
From: AsburyPark@yahoogroups.com [mailto:AsburyPark@yahoogroups.com]On
Behalf Of dfsavgny
Sent: Friday, May 13, 2005 5:17 PM
To: AsburyPark@yahoogroups.com
Subject: [AsburyPark] Re: Abbot Funding cuts....
--- In AsburyPark@yahoogroups.com, "Tyler, Mark" <[EMAIL PROTECTED]> wrote:
> To date no district has been removed from funding but 3 have been
added
> since 1997. So until the idea that Long branch no longer
qualifies is acted
> upon - we are probably safe. I found these factors:
> The state Supreme Court defined poorer urban districts by relying
on a
> formula that includes property tax assessments, average family
income,
> student achievement and whether students live in a K-12 district
that is on
> the state's list for urban aid, according to a spokesman for the
New Jersey
> Department of Education (DOE).
>
Mark,
We all know that the state cannot continue at this rate of funding
indefinitely. Can you imagine if homes start selling here for $1
million in a few years and the redevelopment being substntially
built out that we will continue to get this level of funding? It is
impossible. Are only hope is to keep poor people here or to have the
funding outlive the abatements, which are 10 years, but really have
a life of 16 years from some date (approval or start of project).
The cutting off of the funding is bad enough, but consider how bad
it will be when something like 1/3 of the property owners will not
have to contribute one cent. The abatements must go away for future
phases (non-fast track). Let Fishman take less. As you know this is
not mumbo jumbo but real simple. We have tried to lay it out for
these people before the election but they won't listen. All they
care about is their property values, as if we didn't, or as if
property values are permanently insulated from other factors, such
as property taxes. NJ is reaching a climax on its realiance on
property taxes. It will not work forever. That's all you get with
condos. How about commercial uses and you get sales taxes, etc.
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