--- In AsburyPark@yahoogroups.com, "dsher4" <[EMAIL PROTECTED]> wrote:
>
> Here is how the math works. Most investors would be looking for a 10%
> rate of return, maybe more in this environment.....
================================================
Bottom line via the above scenario is that the Parking Rights be
leased for 10 years for a lump sum payment of $8.25 Million
City has a deficit of $13 Million that could be up to $15 Million next
year.
There are no guarantees of increased cash flow from redevelopment
because there are no timelines, no performance bonds, no
non-performance penalties..... The Council has no will to take the
'developers' to Court.
Keep in mind that the lack of redevelopment will have a very adverse
effect on parking revenues making it a riskier venture than appears on
the surface.
Leasing the Parking Rights as described would not clear the deficit
and would not address the underlying flaws in the situation.
It could help however as part of a broader strategy......
Werner
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