--- In AsburyPark@yahoogroups.com, "oakdorf" <[EMAIL PROTECTED]> wrote:
>
> --- In AsburyPark@yahoogroups.com, "nobepeymay" <nobepeymay@> wrote:
>
> > >
> > > Would you let me move in your house and not pay rent AND feed me?
> > -------------------------------------------------------------------
> > for a period I would let you live rent free (me/city)
> >
> > IF you are willing to invest very large sums of money into my house,
> > home security and property (you/MM)....
> >
> > looks like a win win if the city and developers can execute the next
> > stages and if we can avoid great depression 2.
> >
> > glad to see some AP threads back.
> >
>
> Good answer as I would expect from a guy with business experience.
>
====================================================
Except that it is not analogous to what is happening in Asbury Park. A
clearer picture appears when additional factors are taken into account.
Lets see if we can straighten it out.
- You the 'landlord' (City) give consideration to a tenant (APartners)
to rent your property (development rights) at a discount in exchange
for capital improvements (infrastructure) and creating, for you at his
expense, additional income producing property (taxes).
- The tenant ( APartners) does not have the skills/resources to
complete his end of the deal so contracts a 3rd party (MM) to perform
a substantial part of the deal (redevelopment agreement). In the
process your tenant makes a profit by subletting his unit (development
rights).
- 3rd party contractor (MM) voluntarily provides security to protect
his deal with your tenant (APartners) and now comes to you
(landlord,City) and asks for additional considerations - he would like
the rights to your front yard to build structures and sell goods from
for profit.
You have already given a discount to your tenant (APartners), your
tenant sublets to someone else taking a profit in the process, the
subleasee (MM) now wants to use additional parts of your property for
free to run his business.
Through all this, your deal with the tenant (APartners) and promised
income stream does not come to fruition - you are going farther into
negative cash flow.
Are you (City, Public) feeling put upon, abused, taken advantage
of...... ?
Werner
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