And why are these details discussed behind closed doors, Dorf? All these questions you pose are valid and there is no reason why the public shouldn't know. In fact, denying us that information is against the law.
The appeals panel, in Nevin V Asbury Park, wrote that it defeats the spirit of the Sunshine Law for the City to share the details of a proposed contract with the other side of that contract and leave the public in the dark. So after that decision, the City began meeting with the other party with a subquorum of the council, two council members, instead of the three necessary to conduct business. The councilmembers gather information at these meetings and then meet in executive session with the full council to share these details. But at this point they are again in violation of the Sunshine Law. If the council wants to discuss their strategy, then the law allows them to go into private session for that purpose. But first the public should be informed of the terms that the other side - in this case iStar - is presenting or sharing with the subquorum members. What useful purpose does denying the public this knowledge serve? iStar surely knows the information, why shouldn't we? Maureen http://www.asburyradio.com --- In AsburyPark@yahoogroups.com, "oakdorf" <oakd...@...> wrote: > > > The facts are pretty simple. > > Is IStar technically in trouble as co on the whole? Maybe, depending how you > look at it. Hoewever, since their "maybe going bankrupt", investors think > otherwise, as their stock CLIMBED from the low 2.00 range to around $6.50.... > > IF you really think they'll roll over what is maybe $70m or more on $70m or > more of their loan - WHY? Will they or should they give up their "rights" > which have a value all their own? They will still own the property, unless > they decide to sell some off - when they want to, at a price suitable to them. > > Do you think that their land is WORTHLESS? Do you think their inherited > rights are WORTHLESS? > > Without knowing all the details, that $70m loan may turn out to be great > investment. HOW? Simple. Figure it out. They own more or less all the > property and RIGHTS to develop. A major portion of the infrastructure, > engineering and planning has already been completed. > > And the land their clearing - it's THEIRS. They obtained the rights to that > land - regardless of what I or anyone else thinks. > > From a development point of view - IF they are marketing the properties as > development parcels to anyone or group - with the city or to their own > development partners - it's makes a much nicer presentation to show LAND - > uncluttered FLAT LAND - on the OCEAN. > > A developers dream - even if it means having to work within the development > (or preceived) process known to have plasgued AP all through history. > > Fi you want to play with numbers - even if the owners sold rights over the > next 30 years to use that magical number of 3,000 condos (or homes,apartments > etc), for only 50,000 per unit right (3,000*50,000) > that comes up to %150,000,000. > > Of course I have to leave the projected valuations to our expert appraiser > here > > Ok, so they can't build and selll 3,000 units tomorrow morning. Maybe a more > realistic plan exists - whatever that is. What do you want - 10 homes along > ocean ave? > > You will have, someday something gracing ocean ave, kingsley and the 'infill" > area. > > Maybe the city shoiuld rethink the %250,000 outlay (for now) to "fight" this. > Maybe they should invite Istar to the table once again > - maybe over a beer - and resolve the "issues". > > Pick up the phone and call. Get in the car and sit in the offices of IStar. > > I'd try that before handing over more money to fight what may be a losing > battle. > > Then again, I know none of the details. > > Get the cameras rolling for the next reality show from AP. > > Best of luck. > ------------------------------------ Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) <*> To change settings via email: asburypark-dig...@yahoogroups.com asburypark-fullfeatu...@yahoogroups.com <*> To unsubscribe from this group, send an email to: asburypark-unsubscr...@yahoogroups.com <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
