In a message dated 4/18/2006 7:53:37 A.M. Eastern Standard Time,
[EMAIL PROTECTED] writes:
--- In AsburyPark@yahoogroups.com, Lighty <[EMAIL PROTECTED]> wrote: Re: 2nd Ave Property - Eminent Domain
Purchased by the Orlando Family for $575,000.00
The city's appraiser wants the Partners to only pay about $325,000.00
because their of the opinion that AP land only when up because of
redevelopment. Remember, we have an expert on local real estate market on the
council. I believe he made some wise investment during this real estate
boom.
Maybe Mr. Lofferdo will enlighten the group.
Remember he was uncomfortable with me at a friend's house hosting his
re-election fund raiser, but not upset when Fishman was at his first
fund raiser. I gave to one of his running mate's campaign.
This story, if true, makes my stomach churn. Where is
the
constitutional principle of "just compensation" that the pro-ED people seem to focus on? These people are being bankrupted by the redeveloper. This story needs bigger national attention. At the very least, the mortgage company, or even the Mortgage Bankers Association, should be made aware that their investment in Asbury Park is being threatened. Imagine the loss to all residents and to the new units if major banks refuse to lend in Asbury because of the predatory practices of the developer. Although, that would be an interesting battle to have a major corporation with deep pockets fighting this. Does anyone have any markers to call in at 60 Minutes? See what I can do. But remember, it would be a limited number of
property owners, that is only those whose property are to be condemned. It is most troubling in the case of those who own homes. At a prior council meeting, Bruno, in response to Mrs. K's plea not to condemn her home, he assured "long-time" APers that they would be protected. However, he went out of his way to say the same protection would not be afforded purchasers who bought in recent years, I asume after the MOU. I guess caveat emptor. What ever happened to equal protection under the law. I'll try to contact the homeowner and their attorney to verify the initial offer. I hear Moliver is doing appraisals on Sewall today. If he is using "their" numbers, he might as well sit in his office and
write the reports. No sense in wasting the gas to drive by.
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