--- In AsburyPark@yahoogroups.com, "Gabrielle Obre" <[EMAIL PROTECTED]> wrote:
>
> Forgive my ignorance. I was told by someone that the city sold it,
> therefore gains no revenue for it but obviously has to pay for the
> services (police, sanitation etc).
>
The boardwalk is like a street and is technically owned by the city. The city,
in a way, gave
rights as to what can actually take place on the boardwalk itself. The
buildings - the land
between the BW and OCean Ave, are MM/Partners. But within the zone - it's a
public/private
partnership with all bets on the developer to produce with the city's blessings
over the net
xx number of years.
MM has not debt in this venture......
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