--- In AsburyPark@yahoogroups.com, "jerseyjohn99" <[EMAIL PROTECTED]>
wrote:
... Then we can spend the next 6 years
> arguing about how YOU are going to save the city, and how YOU will
> bring badly needed receivables, err ratables, to the city, and how
> all of us will become filthy rich because of you because you will
> create a nationwide housing bubble just like the previous guys did.
> Of course in a few years that energy and enthusiasm will turn into
> contempt...
=====================================================================
On a related note - At last Wednesdays Council Meeting the City budget
was a topic of discussion since they are again bonding for over $1M.
Asbury Partners was hammered for lack of performance. Specifically -
the loss of about $2M in ratables due to demolition on the beachfront
and for lack or progress creating new ratables.
Prior budgets have been formulated upon anticipated revenue from new
ratables. That has not happened and we are now about $7.5M in the red.
Heading toward $10M at end of year.
The taxpayers are should be prepared for a significant tax increase.
Werner
PS: The City went into this "Deal" at a loss of $6M just on selling
Carabetta tax liens for 50 cents on the dollar.
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