--- In AsburyPark@yahoogroups.com, Lighty <[EMAIL PROTECTED]> wrote:
>
> I can understand Long Branch residents being upset at the
abatements (not to
> mention the obvious emminent domain issues), but at least Long
Branch
> realized that you could only bargain so much. Within 2-3 years,
they're
> already making more than they were before the development and
within the
> abatement is gone after year 5.
>
> That's really not that bad.
>
If you believe the AP's analysis (which I am not saying is not
correct) the City is not losing anything. It is the County (which
only gets 5%) and the schools (0) that lose out. Now it may seem
that AP was smarter because it is not losing the tax revenue,
however, these abatements last 10 years (they have a life of 16
years from approval so to get the full 10 years the units have to be
built by the 6th year). If Abbott funding lasts that long maybe no
problem, but if it doesn't there could be trouble. I assume the
people buying those units will not be burdening the school system
during the abatement period if they listen to Fishman and keep their
kids home. If they did but were not paying then I would have a
problem since I am paying and not using. The abatements only go to
fatten the wallet of Partners. What's the common denominator in
these two cities? Jim Aaron. Should not only be fired, but censured
and sued for malpractice. It is unbelievable that he is still
advising the Council. They deserve each other.
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