I question the city and developer's actions regarding what I had
thought a standard clause in real estate agreements.
Real estate agreements generally contain an actual or implied warranty
that time is of the essence.
It is one thing for the city to gift The Fishman Asbury's lands over
30 years; however, this action brings with it an onus to act. That he
chooses to under bid, speculate or land bank the property of others
bears a time cost to him.
On those lands where he failed to act, forthwith as of signing the
redevelopment agreement of October 2002, he can not expect to buy at
the then appraised value, but must pay the price real estate has
inflated since; anything less is unfair to those he holds in this odd
purgatory of Weldon and Aaron's making.
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