Some time ago a guestion was asked about the status of ConHall and
the Casino. Sorry for the delay in responding.
ConHall is recognized as a historic site at the Federal, State,
County and Local levels. It is eligible for grant funding for
restoration but would not likely receive any since it is now
privately owned. Preference for funds goes to publicly owned
facilities.
In spite of being privately owned the deal requieres restoration to
Federal standards. There is a program that allows developers of
historic buildings to get a 20% tax credit on restoration costs. My
sources tell me that Asbury Partners has expressed no interest in the
program.
The Casino/Heating Plant is recognized as eligible for Federal and
State recognition and is recognosed at the County and Local levels.
It too is eligible for grant funds but is also now private property
and would not likely receive funding. The tax credit program would
apply provided that the documents were filed in concert with
restoration for Federal listing.
The City should have leased ConHall and the Casino/Heating Plant,
retaining control. Federal and State funds would have been more
accessible and the City could have participated in the tax credit
benefits of development.
Selling these buildings was a huge mistake.
Werner
Yahoo! Groups Links
<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/AsburyPark/
<*> To unsubscribe from this group, send an email to:
[EMAIL PROTECTED]
<*> Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/
