At this point in time, other than to look at the Atlantic and remember
about the way AP used to be, I wouldn't bring my kids to AP. But not
because we might encounter a homeless person, or because the
redevelopment hasn't yet progressed as touted to becoming a destination.
The guys on the radio were racist, and condemned Asbury Park...
I think AP has come a long way in the years since MDSass ponied up the
millions... sure, in hindsight the Town could have negotiated a better
deal... but at the time, redevelopment agreements weren't as publically
scrutinized as they should be today.... lawyers who knew their
redevelopment stuff were the one's largely responsible for drafting the
language and premises upon which the NJ Redevelopment Act was
predicated. State/Fed monies made available for fasttrack redevelopment
indicated the need for a master redeveloper. Was Fishman a good choice
for Asbury's redevelopment? In retrospect, probably not,
but at the time of the the arm-twisting, and the prospect of Asbury
Park getting the millions upon millions of past due tax revenue... plus
the promise of timely future tax payments... it a seemed to many a
terrific package deal.
Perhaps the Redevelopment Agreement should have been less ambiguous,
impose and enforce greater oversight and control upon the Redevelopers
by the elected body...
I knew of MDSass/Fishman before they made their much publicized play in
Asbury Park. A lot of people in the business did... but not enough
people raised their concerns adequately to dissuade their elected
officials from entering into an ill-advised (hindsight) agreement.
In my opinion... not privy to other offers to redevelop Asbury Park,
I'd say that MDSass/Fishman was the best, if not the only deal on the
table at the time.
And, what was it, $13,000,000? Perhaps too big a gorilla to ignore.
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