--- In AsburyPark@yahoogroups.com, "oakdorf" <[EMAIL PROTECTED]> wrote:
>
> NEw year, same questions from last.
>
> 1. When was fish to make his last payments per the agreements.
> - a) How far behind is he (or not)
>
> 2. Those affordable housing/rec $ from AP Partners and other towns.
> - a) How have they been spent
> - b) Where are they held
> - c) what is plan/budget for those $
>
> 3. What are the city lastest plan for a rec center, park,
facilities
> utilizing those $.
>
> 4. What action will the city take to collect the next payments due
(if
> they are?)
>
> Pretty soon, this yahoo group should be posting announcements -
births,
> deaths, marriages etc.
A lot of these questions have been asked at council meetings. I
can't remember the answer where the $2 million is, I'll ask Keady.
The future payments for affordable housing are tied to building
permitsfor residential units. From the RA below
Master Developer will contribute seven million ($7,000,000) dollars
to the City subject to the provisions below. The City will use said
money for the purpose of providing loans and/or grants to facilitate
to the cost of affordable housing and community initiative in the
City.
Master Developer shall pay to the City the sums in the manner
describe below:
a. $250,000.00 upon the execution of this Agreement.
b. An additional $750,000.00 upon the sooner event:
i. Six months or
ii. A written agreement with the Department of Environmental
Protection (General Permit)
c. $1,000,000.00 upon the issuance of the 250th
residential unit building permit or within one year of the payment
of the $750,000.00 whichever occurs sooner.
d. $1,000,000.00 upon the issuance of the 600th residential
unit building permit.
e. $1,000,000.00 upon the issuance of the 900th residential
unit building permit.
f. $1,000,000.00 upon the issuance of the 1200th residential
unit building permit.
g. $1,000,000.00 upon the issuance of the 1500th residential
unit building permit.
h. $1,000,000.00 upon the issuance of the 2,000th residential
unit building permit.
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