Your source is wrong. Tell him I said so. MM laid out some
conditions that are currently being met. Once completed, MM starts
their work.
>From your recount of your source's info, it became clear that it was
all made up when your source started to make MM sound like a social
justice organization and not a business:
"Oh we think this deal is weighted too much our favor as a
developer. Clearly we have to re-work that."
Yea right.
MM is in as soon as the contingencies are satisfied by Asbury
Partners.
--- In AsburyPark@yahoogroups.com, "dfsavgny" <[EMAIL PROTECTED]> wrote:
>
> I have it on good sources that MM has not done a deal with
Fishman,
> and quite frankly, may not do anything if Fishman and Partners
stay
> in the deal. They are quite fed up with these bunch of losers and
> continually shake their heads at how a city could have possibly
given
> the redevelopment rights to these bunch of amateurs.
>
> Fishman wants to be a partner with MM on the retail. MM wants them
> out. They are upset that Partners was not meeting the timeframes
of
> the dispute resolution agreement (Csino, 5th Ave Pav, etc.).
Partners
> did not want to do the work (expend the money) without a signed
> contract with MM. MM said no way, you have to do the work anyway,
> even if you have no deal with us or anyone. Then Partners said
they
> would do the work without a contract if they were reimbursed by
MM.
> MM gave the same answer. These are your responsibilities.
>
> MM is now aware of the entire cabal in this deal (Aaron, Fiaella,
> Weldon, etc.) and may not even want to tarnish its image even if
MM
> owned the retail alone. MM may be moving to get Partners out
> completely and take over the entire redevelopment. Also, they
think
> the WRP needs reworking - the waterfront is walled off by too tall
> buildings, not enough parking, not enough access (giving away
streets
> and closing them). And believe it or not, MM feels that the WRA is
> too one sided in favor of the developer. They do not want to be
party
> to a deal that smells of impropriety. They also need to look at
the
> eminent domain aspects - how fair they really are. These sound
like
> good people. They are coming to the realization that Fishman and
> Partners must go. Anyone with real estate experience shakes their
> head at what has been going on here for the past 5 years.
>
> On another note. I also hear that Westminister is not putting any
> more money into Welsey Grove and that they are trying to unload
the
> project. Hovanian took a pass. Also, funding has supposedly been
cut
> off to Metro because of no presales.
>
> I am also told that our tax rate may have to be drastically
increased
> next year because of a decrease in ratables stemming from Partners
> demolishing of improvements. I heard that $2 million of ratables
> dissappeared through the wrecking ball.
>
> There has to be drastic changes in this town by the council. It is
> time for them to wake up. Partners must take a payment and walk.
We
> may be headed for a train wreck.
>
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