Here's an old post where I "did the math" as Oak likes to say:
http://groups.yahoo.com/group/AsburyPark/message/6542
I could update the numbers, but isn't that kinda like trying to
teach a pig to sing? It's obvious no one cares about permanently
eliminating deficit spending, giving city taxpayers a break, or
making the Asbury Park school system self-sufficient.
--- In AsburyPark@yahoogroups.com, "dfsavgny" <[EMAIL PROTECTED]> wrote:
>
> --- In AsburyPark@yahoogroups.com, Lighty <lighty@> 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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