[AsburyPark] Re: City's Vision for Revised Waterfront Redevelopment Plan

[radio881gal]

As I understood the lawyer's point in the courtroom, there is a 12 month time 
limit from the time the rights holder takes title to the property, buys it, 
until he puts something on it.
 I agree, I too was unaware of such a time limit, since many people have 
criticized the plan for not having such frames. 

--- In AsburyPark@yahoogroups.com, "dfsavgny"  wrote:
>
> 
> 
> --- In AsburyPark@yahoogroups.com, "radio881gal"  wrote:
> >
> > That surprises me since in my report on the court hearing - Bon Mots Flew 
> > Over Freehold - I noted the lawyers representing Asbury said that "There 
> > had been no 'ground up' development since, despite a deadline of 12 months, 
> > according to the agreement, to develop or find a subsequent redeveloper."  
> > I hadn't been aware of a deadline to develop taken property existing in the 
> > current agreement, so I made a special note of it. 
> > So to offer now an 18-month grace period would seem a step back, no?
> > And as you say, the council and especially Sammet have vowed to no longer 
> > use Eminent Domain (condemnation) to take property. 
> > Very interesting...
> > 
> 
> I think you are mixing deadlines. I am unaware of any deadline to condemn in 
> the existing agreement
>






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[AsburyPark] Re: City's Vision for Revised Waterfront Redevelopment Plan

[radio881gal]

That surprises me since in my report on the court hearing - Bon Mots Flew Over 
Freehold - I noted the lawyers representing Asbury said that "There had been no 
'ground up' development since, despite a deadline of 12 months, according to 
the agreement, to develop or find a subsequent redeveloper."  I hadn't been 
aware of a deadline to develop taken property existing in the current 
agreement, so I made a special note of it. 
So to offer now an 18-month grace period would seem a step back, no?
And as you say, the council and especially Sammet have vowed to no longer use 
Eminent Domain (condemnation) to take property. 
Very interesting...

--- In AsburyPark@yahoogroups.com, "dfsavgny"  wrote:
>
> 
> 
> --- In AsburyPark@yahoogroups.com, "radio881gal"  wrote:
> >
> > Spelled out in 47-page 'Concepts' document that was filed with court 
> > papers. More At http://www.AsburyRadio.com
> > Best,
> > Maureen
> >
> 
> Thanks Maureen. A very interesting read. Gives (suggested for amended plan) 
> master developer 18-months to ask city to condemn properties otherwise 
> properties come off list to be condemned. Nice touch although I personally 
> would recommend no condemnation at all.
>






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[AsburyPark] City's Vision for Revised Waterfront Redevelopment Plan

[radio881gal]

Spelled out in 47-page 'Concepts' document that was filed with court papers. 
More At http://www.AsburyRadio.com
Best,
Maureen






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[AsburyPark] Boat Rides Return to Wesley Lake - Report fr Wed. 3/16 AP Council Meeting

[radio881gal]

Swan Boats Return to Wesley Lake
Asbury Park Considers Exceeding 2% Cap
Tentative Budget Prior to State Aid Requires 101% Tax Rise
(Last year was 110% potential, but got State Aid)
Reidy Vows Transitional Aid Will Lower Need to Hike Taxes
But Cap Rise Above State Mandated 2% Still On Table w/ Possible Referendum same 
date as Board of Ed Vote
See Reporters' Notebook (warts and all as usual) at http://www.AsburyRadio.com 
Some Q's:
What happens if City can't raise property taxes beyond 2%?
Are waterfront developers paying full tax on undeveloped or unfinished parcels?





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[AsburyPark] Re: Question about MM and Asbury Partners/iStar

[radio881gal]

Thanks for weighing in, Russell. It's healthy for residents to be involved in 
or at least informed and vocal about these proceedings.
In case you haven't seen it, I wrote a report on my site after attending the 
court hearing the other day. It's at http://www.asburyradio.com  There were 
only three residents present, beside the two council members and city manager.
Best,
Maureen

--- In AsburyPark@yahoogroups.com, "Russell Lewis"  wrote:
>
> There has been some really good discussion here on this topic.  Much of the 
> information about the history, the deals, the players and the current 
> situation is pretty spot on - as I can tell.  I encourage everyone to 
> continue these discussions and show up at the city meetings and let your 
> voice be (officially) heard. 
> 
> I'm privy to much of the dealings of this topic being involved with the city, 
> the WRA and the boardwalk.  All I can say is that I believe the city is doing 
> a great job holding I-Star accountable; I-Star is making the right moves and 
> taking this seriously (considering that they were simply lenders to Asbury 
> Partners just a short time ago); and Madison Marquette seems to be choosing 
> to be part of the solution instead of the problem - which hasn't always been 
> the case.
> 
> I'm not sure of the decisions our outcome of the court date this last 
> Thursday but I'm very hopeful that the city and these companies can find 
> common ground to (finally) come together in a collaborative effort and 
> realize the enormous potential, both economically and culturally, of our 
> blighted beach front.  
> 
> Russell Lewis
> 1113 3rd Ave
> Zoning Board Member since 2004
> Owner - Watermark
>






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[AsburyPark] Anybody Looking for a slightly used 12" compound mitre saw?

[radio881gal]

It's great for cutting molding - FAST.
Comes with a brand new blade.
asburyra...@aol.com
Maureen





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[AsburyPark] Re: Question about MM and Asbury Partners/iStar

[radio881gal]

As stated in court, iStar doesn't stand to lose the acreas of properties it 
already owns and it has the right to develop them according to an amended or 
replaced plan. The plan is just a resolution passed by the city council. It can 
be changed at any time. The agreement between the City and Asbury Partners is a 
contract with legal weight. It's the provision regarding an arbitration option 
that is the crux of the argument now. (see www.asburyradio.com) 
   As for iStar and the commercial property market in general, I don't believe 
it's all that close to coming back. And I'm not sure what they would mean, 
since I doubt it will return to 2007 or 2006 prices. The reason I say this is 
because Sternlicht, a chief executive of iStar's former parent, Starwood, 
recently said he felt the rebirth in the NY commercial property market is an 
anomaly true to only the NYC market.   
   I'll throw this out as possibility: Under the contract with the city, the 
WRA, iStar has to complete the infrastructure. Since its legal counsel 
mentioned it in court, with an eye toward dropping that commitment, because the 
next plan looks like it will call for less density, I think that's something 
iStar wants to shake.
#2 commitment is that iStar has to make regular, sizable payments on the 
debt the council committed the City to in order to provide Asbury Partners with 
cash to upgrade the sewer plant, and perhaps even the boardwalk replacement. So 
even if iStar let the City take back the redevelopment rights it would still 
owe these obligations. 
   So I would venture that iStar isn't going to fight too hard to hang onto the 
rights and might cut a deal that would leave the city its redevelopment rights 
again, but also with the unfinished infrastructure and the bond debt. The City 
would be crazy to make that deal BTW. But the City has to be careful that in 
severing its ties to the master developer, it doesn't free it from these 
commitments.
Thoughts?
Maureen http://www.asburyradio.com
  
--- In AsburyPark@yahoogroups.com, "dfsavgny"  wrote:
>
> 
> 
> --- In AsburyPark@yahoogroups.com, "Dave"  wrote:
> >
> > I think the crux of the issue at this point is the following:
> > 
> > IStar is not going to back away from 70 million without a fight
> > They are not in a good spot right now economically so they will try to 
> > delay things
> > I'm guessing they have a very prestigious law firm defending them who will 
> > drag this out in court forever. 
> > a 250k bond for legal fees for the town is probably way too low to actually 
> > fight this.
> > who is legally representing the town?  do they have anywhere near the 
> > acumen that Istar's legal firm has.  
> > 
> > Commercial construction is starting to show signs of life across the 
> > country.  We analyze this stuff for a living at my firm, it isn't in the 
> > papers yet but it will be.  How do we make sure we don't miss the next 
> > round of redevelopment while istar delays a decision on the beachfront for 
> > years?  
> 
> I think that there is a misunderstanding about the city asking iStar to walk 
> away. Perhaps I am wrong but they own what they own and that is a lot of 
> property. What I think the default issue is, is that they loose the rights 
> under the WRA, not its ownership interests in properties they already own. 
> Then for all intents and purposes the WRA as it exists is dead and the city 
> can start over. The city is not obligated to condemn other property for 
> Partners, etc.I do not think there is anything in the WRA that upon default 
> Partners has t give up its property. There may be something about the 
> properties that the city actually sold, i.e., the pavilions etc. that they 
> city can get back but it has to compensate Partners.
> 
> iStar has been very aggressive and successful in foreclosing on high-profile 
> failed projects, some here in NYC. They are not developers. I m for the city 
> pushing them with litigation because although they will sell their pieces, 
> you have to light a match under them. I only wish we could get back the 
> development rights but they haven't been the city's for decades I believe in 
> any event.
> 
> But what we can do with this litigation is to gain leverage to rework the 
> plan and make things go forward in the best interest of the city. What the 
> city needs are good development minds assisting it.
>






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[AsburyPark] Re: Question about MM and Asbury Partners/iStar

[radio881gal]

Two things:
First thanks very much for the feedback Arhythmick - one of my favorite groups 
by the way - I try.
1 -The fall of Esperanza was in 2007, not 2009. The city has presented it as 
part of the credit crisis, but it was really too early chronologically. (I know 
the CDOs and CDSs were flying but that's besides this point.) Geibel probably 
looked around and saw that Wesley Grove (with Kushner pulling out) and North 
Beach were not selling out as advertised. And, he may have figured out by then 
that by giving the Partners their share of aftersale considerations would 
seriously erode his profits. Geibel also wanted to pick up his marbles and 
consolidate his assets in his project with Trump up North. Ironically, I think 
iStar was a funding source there, too.
2 - Jim Keady - glad to see you adding to this discussion. Just wanted to let 
you know that the city did finally sign an agreement with Madison Marquette. I 
may even have posted it on www.asburyradio.com. But no time to look now. 
There's a search feature on the blog and for older stuff, pls help yourself to 
the directory on the left banner of the site.
All best,
Maureen 

--- In AsburyPark@yahoogroups.com, "arhythmick"  wrote:
>
> I must say that my best source of information over the past many years has 
> been Maureen Nevin's coverage.  Her consistent and very specific reporting of 
> city council meetings that I could never attend is invaluable!
> 
> --- In AsburyPark@yahoogroups.com, Educating for Justice  wrote:
> >
> > Arhythmick¹s assessment below of the rights/responsibilities for the
> > Waterfront Redevelopment Area are fairly spot on.  Many people have made the
> > mistake in assuming that Madison Marquette became a ³redeveloper² on par
> > (legally) with Asbury Partners.  This is not the case.  Prior to their
> > purchase of Wesley Grove, MM was nothing more than a contractor, hired by
> > Asbury Partners, to execute the retail portion of the boardwalk
> > redevelopment.  When MM purchased Wesley Grove, they became a sub-developer,
> > nothing more.  During my time on Council, I consistently pushed my
> > colleagues and the City Manager to formalize some kind of legally binding
> > agreement with MM that would put them on the hook with the City for what
> > they were contracted to do by Asbury Partners.  This did not occur during my
> > tenure, nor do I believe it has occurred since I left office.
> > 
> > I am happy that the City is finally willing to fight and name iStar in
> > default.  This should have happened with Asbury Partners about 4 years ago.
> > If anyone would like to read through the piles of files and notes I have on
> > this, let me know.  I saved everything (Executive Sessions, Workshop
> > Sessions, Open Public Meetings, Special Meetings, etc.) and it is all neatly
> > tucked away in my attic for posterity¹s sake.
> > 
> > Peace, Jim Keady   
> > 
> > Arhythmick said... 
> > 
> > ³I have been trying to follow this as well. Here is my best guess of what is
> > going on. I am not sure of all the legal relationships (joint ventures, etc)
> > but here goes...
> > 
> > Some time ago a group called Asbury Partners obtained the development rights
> > for the waterfront area from the town of Asbury Park. They made deals with 3
> > sub-developers to build condos; Paramount Homes for North Beach to the
> > North; Metro Homes to build the Esperanza in the middle; and Kushner to
> > build Wesley Grove in the south (by Wesley Lake). Then in May of 2007 they
> > signed a deal with Madison Marquette (a Washington DC based retail
> > developer) to handle all the retail along the boardwalk. They formed a joint
> > venture with Madison Marquette called Madison Asbury something.
> > 
> > When Kushner wanted out of Asbury Park, Madison Marquette bought the Wesley
> > Grove condo project from them (and presumably obtained the rights to
> > continue to develop there).
> > 
> > Then Metro Homes abandoned the Esperanza project in 2009 when the economy
> > went south. (some say their plans were too grandiose in the first
> > place...and that Asbury park could never have supported $3M condos). The
> > project sits abandoned waiting for a new developer
> > 
> > When Asbury Partners defaulted on its loan to iStar last year, iStar had a
> > decision to make on whether to get rid of the entire project or keep it.
> > They hired consultants and assessors who told them it was worth too much to
> > bail out of. So iStar has taken on the role of waterfront developer from
> > Asbury Partners. It is presumed that they have also taken on the Asbury
> > Partners half of the joint venture with Madison Marquette.
> > 
> > As waterfront developer, iStar has a responsibility to develop and/or find
> > suitable sub-developers...The town claims they are dragging their feet and
> > are not doing that when many sub-developers are out there ready to develop.
> > The town claims some have approached them directly. iStar says the market
> > isn't ready yet.

[AsburyPark] Re: City declares Istar in default.....in APP

[radio881gal]

Brian -
I agree with you about Reidy as far as being in charge when it comes to 
spending. He's grown that city hall staff to amazing proportions, prior to the 
cutbacks this year. 
(I'll never forget how the council voted to hire him first and then negotiated 
salary.) 
But my guess on the waterfront stuff is that Reidy probably defers to Jimmy 
Aaron and maybe Glenn Scotland, although I think Glenn takes his direction from 
Aaron. You know Aaron was our city lawyer, then our redevelopment lawyer, and 
now our litigation attorney. Keep that in mind...
I'm still amazed by Jimmy's little speech the other night. Mega moxie at work. 
Here we are looking at yet another huge debt we can't pay off, because we put 
everything into one outfit's hands, an organization whose financial status was 
never adequately determined. (If the city had demanded that review, we might've 
gotten to this point a long time ago.) 
But does Aaron even attempt to defend this fiasco? No! What fiasco? He's got 
billable hours stretching before him as far as he can see. 

Instead he launches into a glowing review of what else? How brilliantly the 
legal teams coordinated with each other during this big crisis. (Maybe he meant 
they avoided bumping into each other in the halls - there were so many of 
them.) Holy crap, I bet they've run up fat bills already. No wonder they made 
sure the council introduced the ordinance to approve a quarter of a million 
dollar loan for their legal fees before the year is out. Are we broke? Amazing 
how quickly they can work when it's in their favor.
When was all this valiant work done, I'd like to know. Oh, I almost forgot; we 
don't have a right to know what went on in the kitchen. 
Before the council could ask why the same damn lawyers didn't write 
protections into the WFAgreement to begin with so that a long litigation 
wouldn't be necessary in the event of a default -- a point BTW which John 
Hamilton belabored ad nauseum, to no avail because Aaron wouldn't address it in 
the contract -- before any of this, Aaron had put his spin on it. Talk about 
turning a sow into a silk purse, branding the legal team heroes - not cockups! 
   And, Aaron managed in those few moments to blame litigation over the plan in 
those early years for the unfinished redevelopment now. I don't know how many 
people caught that. He was referencing the lawsuits filed by property owners 
who wanted to be the developers of their own buildings and lots -- exactly what 
the administration wants the new plan to reflect. Bravo to Jimmy for that 
Bravado!
Sorry, Brian, just had to vent that.
Maureen

--- In AsburyPark@yahoogroups.com, cbrianwatk...@... wrote:
>
> I'm always so perplexed at people blaming the town council, or implying that 
> they are in charge of the decision making
> 
> They are ceremonial at best,the City Manager (the most useless and money 
> draining position in local politics) is the one pulling the strings
> 
> And by no means is that directed at you Maureen, just a generalization of AP 
> residents
> Sent from my Verizon Wireless BlackBerry
> 
> -Original Message-
> From: "radio881gal" 
> Sender: AsburyPark@yahoogroups.com
> Date: Mon, 13 Dec 2010 20:20:15 
> To: 
> Reply-To: AsburyPark@yahoogroups.com
> Subject: [AsburyPark] Re: City declares Istar in default.in APP
> 
> 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"  wrote:
> >
> > 
> > The facts are pretty 

[AsburyPark] Metro Homes' Sheriff's Sale

[radio881gal]

Has anyone heard if the sheriff's sale of Esperanza went off today?
Maureen  http://www.asburyradio.com





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[AsburyPark] Re: City declares Istar in default.....in APP

[radio881gal]

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"  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.
>






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[AsburyPark] Re: The Jersey apartments

[radio881gal]

The City runs a code department to monitor building hazards in order to prevent 
just such eventualities. Property owners are fined until they repair or board 
up conditions that pose a danger to public safety.
Maureen - http://www.AsburyRadio.com

--- In AsburyPark@yahoogroups.com, "maubddny"  wrote:
>
> And does the town have the money to pay a lawsuit when another window falls 
> out and tumbles onto the side walk and potentially crushes one of the kids 
> from next door that regularly play on the front lawn. 
> 
> --- In AsburyPark@yahoogroups.com, "rkgsx"  wrote:
> >
> > So instead of having a project completed with ratables, we'll get another 
> > vacant lot.
> > 
> > Here's a good quesiton - Who is going to pay the former owners?  According 
> > the public records, the property was already transferred. Does iStar or 
> > whomever have $1.5 million to cough up right now? 
> > 
> > --- In AsburyPark@yahoogroups.com, "wernerapnj"  wrote:
> > >
> > > 
> > > 
> > > http://www.leagle.com/unsecure/page.htm?shortname=innjco20101001292
> > > 
> > > or
> > > 
> > > http://tinyurl.com/28xb9ro
> > >
> >
>






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[AsburyPark] Re: Lost Dog-Please look at pic!

[radio881gal]

Couldn't see any picture, Chris.
Sorry.
Maureen

--- In AsburyPark@yahoogroups.com, mickar...@... wrote:
>
> This dog has been lost for 3 days. Her name is Phoebe. She's incredibly  
> sweet and loves everyone. Any leads at all, please call Joe @ 732-610-5672.  
> Thanks.
>  
> 
> 
> [Non-text portions of this message have been removed]
>






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[AsburyPark] Re: The Jersey apartments

[radio881gal]

As I recall Molliver used as comps on the Jersey, Blondie's Strip Club and the 
'Martian Building' - the old mule stables next to Jimi's. They called it the 
Martian Building because of the faces people painted on it. You can't make up 
stuff as good as real life in AP.

--- In AsburyPark@yahoogroups.com, "wernerapnj"  wrote:
>
> 
> 
> http://www.leagle.com/unsecure/page.htm?shortname=innjco20101001292
> 
> or
> 
> http://tinyurl.com/28xb9ro
>






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[AsburyPark] Re: The Jersey apartments

[radio881gal]

The City?
Why would the city be involved now? The City allowed the Partners to use the 
city's right of eminent domain. But the property was bought by the Partners. 
BTW, wasn't DiPetro bought out of that deal by his partners years before it 
finally settled? And, holding on to a building, paying taxes year after year 
with no rental money coming in, is that profitable?? It wouldn't seem to be to 
me. But I don't know much about real estate.
Anyway, I guess iStar Financial -- that brilliant shining star of commerce -- 
has possession of the Jersey now. Right? 

--- In AsburyPark@yahoogroups.com, "oakdorf"  wrote:
>
> thanks werner for posting this. 
> 
> To sum it up - the Jury award stand for Jersey Apartments and Rich D walks 
> away with a nice payout and the city has a nice big code violating crumbling 
> POS on it's hands.
>






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[AsburyPark] Re: Baronet - PS - Sass

[radio881gal]

Yes, Cathryn, it is true.
I can't reveal my source, but the person works with a theater group in the 
area, who toured the building and had had its lawyer contact iStar's legal 
representative. The group was prepared to put several million dollars into 
rehabbing the building. Before those principals could move on in negotiations, 
the building was ordered demolished.

Now the site is entitled to a tax reduction and is free to be sold for condo 
development. In case you don't know, when a site is sold for that purpose, the 
sale price is based on the number of units that can be built on the lot. That's 
why density is favored in these developments -- not necessarily because the 
number of units works best for the community. (You probably won't hear too many 
real estate people complain though.)
And that developer will probably be grandfathered into a tax abatement to 
extend to his buyers, because that is what the other "fast track" developers 
got in order to attract them into a "blighted" and therefore hi-risk situation. 
Since the world economy is in a slump, they may argue that they, too, should 
have such tax relief. That relief will excuse the unit owners from schools tax 
and most of the tax levied by the county.
Maureen   

--- In AsburyPark@yahoogroups.com, "cathrynbe2002"  wrote:
>
> I was catching up on recent messages (but haven't gone back far enough to 
> read them all) and saw someone said there was a buyer for the Baronet. I 
> can't find that message now. Is that true - I'm SURE it is, but are there 
> more details? 
> 
> Cathryn.
> 
> --- In AsburyPark@yahoogroups.com, "radio881gal"  wrote:
> >
> > They couldn't get away with it if the city didn't let them.
> > 
> > You mean one of the largest law firms in the state didn't put any clauses 
> > in there that if they run into financial problems and can't complete that 
> > they have to remediate the site and get the hell out? If not why is that 
> > firm still representing our town?
> > We sold the Carrabetta tax liens for 50c on the dollar. It was ridiculous. 
> > The buyer of the property has to pay the lien. 
> > What was the other point?
> > Madison Marquette was brought in by Fishman because the Partners were 
> > obligated to make those repairs and renovations to the waterfront and they 
> > had run out of deadlines.
> > Kushner never intended to pay those post deed considerations.
> > AND there was a buyer for the BARONET!!!
> > They tore it down to end that little possiblity. First, they wanted to get 
> > the tax burden off their backs. Secondly, they can sell it now for condo 
> > development - X$ per unit, plus, plus, plus. Ocean view property.
> > 
> > 
> > --- In AsburyPark@yahoogroups.com, "oakdorf"  wrote:
> > >
> > > He talks about what he does for a living. Vulture. They "loan" money and 
> > > invest money - all for a return.
> > > 
> > > They buy tax liens. That enables a town/city to carry on business. I had 
> > > a tax lien on a property I own. The town sold it. They buyer  - sass. 18% 
> > > interest. They don't get the 18% because they purchased the  debt from 
> > > the town. 
> > > 
> > > 
> > > If and when I failed to pay, they could of foreclosed and MAYBE made even 
> > > more. 
> > > 
> > > So why is that really bad? Because it involved real property (land).
> > > 
> > > Think for a minute. 
> > > 
> > > If you own a credit card, you really get screwed. It's ok for a bank to 
> > > charge you 29.99 percent (hey it could be worse - 30%) .
> > > 
> > > AP got screwed by continuing to tie up the zone to one developer. Look at 
> > > AP Partners - they turned around and tried to and got lucky with kushner 
> > > who got REAL lucky with MM and got the hell out.
> > > 
> > > Don't you think Metro should be yelled at for screwing up? don't you 
> > > think other local developers held the city hostage in the downtown and 
> > > failed to produce? Greed perhaps? 
> > > 
> > > To be a real long-term success and a real developer - you have to leave 
> > > room for some one else to come in pay their bills.
> > >
> >
>






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[AsburyPark] Tax Hike Signed Today

[radio881gal]

Isn't anybody on here reading www.AsburyRadio.com?





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[AsburyPark] Re: Baronet - PS - Sass

[radio881gal]

They couldn't get away with it if the city didn't let them.

You mean one of the largest law firms in the state didn't put any clauses in 
there that if they run into financial problems and can't complete that they 
have to remediate the site and get the hell out? If not why is that firm still 
representing our town?
We sold the Carrabetta tax liens for 50c on the dollar. It was ridiculous. The 
buyer of the property has to pay the lien. 
What was the other point?
Madison Marquette was brought in by Fishman because the Partners were obligated 
to make those repairs and renovations to the waterfront and they had run out of 
deadlines.
Kushner never intended to pay those post deed considerations.
AND there was a buyer for the BARONET!!!
They tore it down to end that little possiblity. First, they wanted to get the 
tax burden off their backs. Secondly, they can sell it now for condo 
development - X$ per unit, plus, plus, plus. Ocean view property.


--- In AsburyPark@yahoogroups.com, "oakdorf"  wrote:
>
> He talks about what he does for a living. Vulture. They "loan" money and 
> invest money - all for a return.
> 
> They buy tax liens. That enables a town/city to carry on business. I had a 
> tax lien on a property I own. The town sold it. They buyer  - sass. 18% 
> interest. They don't get the 18% because they purchased the  debt from the 
> town. 
> 
> 
> If and when I failed to pay, they could of foreclosed and MAYBE made even 
> more. 
> 
> So why is that really bad? Because it involved real property (land).
> 
> Think for a minute. 
> 
> If you own a credit card, you really get screwed. It's ok for a bank to 
> charge you 29.99 percent (hey it could be worse - 30%) .
> 
> AP got screwed by continuing to tie up the zone to one developer. Look at AP 
> Partners - they turned around and tried to and got lucky with kushner who got 
> REAL lucky with MM and got the hell out.
> 
> Don't you think Metro should be yelled at for screwing up? don't you think 
> other local developers held the city hostage in the downtown and failed to 
> produce? Greed perhaps? 
> 
> To be a real long-term success and a real developer - you have to leave room 
> for some one else to come in pay their bills.
>






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[AsburyPark] Baronet - PS - Sass

[radio881gal]

This is even more poignant when you think of Marty Sass this morning bragging 
on nationwide cable TV, over "Strategy Session", about his successful 
investments. Remember MD Sass, the investors with Larry and Glen Fishman behind 
Asbury Partners, and the article in which Marty bragged to a real estate writer 
about the killing he made on distressed property in Asbury Park?
Wait, did anybody thank the Fish Men yet?
Yes, we should all move ahead, look toward the future -- after we take note of 
the pattern we can't afford to repeat.





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[AsburyPark] The Baronet - Just a couple of points of fact

[radio881gal]

The Obits for the Baronet have so far completely disregarded the fact that the 
theater was reopened while Walter Burns and partner Maurice still owned it. I 
know, because I was there, as a few may still recall in my Egyptian disguise, 
to MC the independent films brought to town by Doug LeClare and Susan 
Pelligrini, then of Keyport, representing Asbury Shorts of New York. Remember, 
Hinge?
   Yes, the mold was there; hell, the stage manager put her foot through the 
floor an hour before we opened. But the new mural was already up on the facade 
and we filled the house with cheering people. That, ladies and gentlemen, was 
the night the Baronet sprung back to life!
   Point Two - the timing of the demolition also coincides with the recent 
reports of the dire financial straits of our latest 'benefactor', iStar 
Financial, which is probably responsible for paying the taxes on the property 
the Baronet sits on or sat on. You will note that the huge apartment building 
that occupied most of the block across Kinsley from the sewer plant also came 
down this month. Just watch those property tax revenues crumble to the ground 
and blow away... Makes you wonder who's approving all these demo permits? BTW, 
there is a list of buildings approved as "imminent" (not eminent- maybe he was 
thinking of eminent domain)"hazards" a couple of years ago, to clear the way 
for downing the buildings at the first sign of a fault - or was that a default?

Anyone else hear there is an emergency meeting to pass the city budget on 
Monday, 9/27, at 9 AM?? Don't worry if you can't make it. I'm sure we'll find 
out all we need to know when we get our tax bills. 





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[AsburyPark] MD Sass on CNBC Today at Noon

[radio881gal]

Marty Sass is scheduled to appear on David Faber's Strategy Session at noon on 
CNBC today. Be interesting to see if he says anything about his Asbury 
Partners' experiences, and the $70 million default. Did Sass sell his share to 
iStar? 





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[AsburyPark] City's Employee Sues City for $1 Million

[radio881gal]

City's Employee Sues City for $1 Million 

 
Stone Mandia LLC of Neptune, attorneys for Bill Gray, Asbury Park's head of 
Code Enforcement, filed a notice of claim against the City on July 12th, 2010 
for an incident on May 7 of this year. Gray, who was put on paid suspension 
(see earlier story), is looking for damages of $1Million. 
rest is on www.AsburyRadio.com





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[AsburyPark] Re: IStar

[radio881gal]

How long can you count on the OPM being there, when the gains aren't coming in?

--- In AsburyPark@yahoogroups.com, "oakdorf"  wrote:
>
> 
> > Why is iStar offering lease agreements instead of sales, when they keep 
> > losing money quarter after quarter? Some free market. What's keeping these 
> > guys artificially afloat? 
> > Maureen
> > 
> >
> '
> OPM keeps them afloat. OPM = other peoples money. that's how the free market 
> works, that's how cities are run, that's how social systems work and that's 
> how the stock market works.
> 
> That's why it's great to real big - you can hide failures along the way and 
> still look good.
> 
> It's like going out to eat when someone else is treating - even a bad meal 
> can taste good - when it's OPM.
> 
> And there's a movie they can show at the SHOWROOM - "Other People's Money" 
> starrring Danny DeVito.
>






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[AsburyPark] Re: IStar

[radio881gal]

"Overvalued" - good point, Oak. 
But the fast track units were overpriced from the start because Asbury Partners 
( Fishman Brothers, MD Sass, Cherokee, etc.) demanded too much for the 
redevelopment rights and other fees. 
That set us on an inevitable collision course. They were overpriced even at the 
peak of the building craze. How do you hide $100,000/unit for the rights, 
$20,000 for infrastructure reimbusement/unit, and 7% on the sales price/unit? 
You can't. So you add it to the price of each unit and that's in excess of the 
value you're getting and/or the profit the builder is getting. It had to fail. 
And they couldn't console themselves with future retail because the partners 
secured that, too.
Hovnanian knew it. They backed out because they didn't like "the negotiations". 
hmmm. I doubt Kushner paid up on the post-sale considerations to the Partners. 
Weren't the Partners suing Kushner over failure to honor their contract?
Now we've got iStar talking to the council, again behind closed doors, and who 
knows what kind of strategy they intend to use. 
Are there timelines? Deadlines? What do they think of that eyesore on the C-8 
lot? When does that get removed? Have they figured Son of C-8 into the criteria 
of negative influence on area values? Aren't investors doing that these days?
Why is iStar offering lease agreements instead of sales, when they keep losing 
money quarter after quarter? Some free market. What's keeping these guys 
artificially afloat? 
Maureen

--- In AsburyPark@yahoogroups.com, "oakdorf"  wrote:
>
> 
> 
> --- In AsburyPark@yahoogroups.com, "radio881gal"  wrote:
> >
> > Oak -
> > What did you mean by what's backing their 'investments'?
> > 
> 
> I guess the right word here is collateral- when they gave out money for these 
> deals in their portfolios - what did they get in return, how was it valued, 
> was money fronted for soft development costs (that were spent for planning 
> but no real property development etc)
> 
> The biggest thing for them and all other developers- how are they carrying 
> these properties and how are they valued today - or are they using tomorrows 
> projected as built and sold numbers.
> 
> If I gave you a $100,000 mortgage for 30 years, I'd want to know that for the 
> next 30 years, I have something from you in return that during the next 30 
> years, I can easily unload for $100,000 and you paid me with no grief during 
> that time (Or as the principal was paid down, at least your payoff was 
> covered).
> 
> This is the meltdown - loans made on overinflated values determined by over 
> zealous buyers, "investors", dreamers, scams, brokers, bankers and appraisers 
> (here it comes...):
> 
> In the end you can't buy what you can't afford.
> 
> that's what my parents told me.
> 
> People today are embarrassed to say it to their kids or, for that matter, to 
> themselves.
>






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[AsburyPark] Re: City to Create/ Lease Parking Lots - Council Mtg 8/4/10

[radio881gal]

Gosh, was it early in this century when the DEP actually frowned on covering 
porous surfaces with impervious coverings? Let's see, what was their 
reasoning...oh, I remember water pollution, flooding, poisoning our marine life 
with petrol chemicals from asphalt...
I'm sure they've fixed all that now...
Maureen

--- In AsburyPark@yahoogroups.com, "oakdorf"  wrote:
>
> 
> Smart move.
> 
> Will they use attendants or simply add pay stations and number the spaces in 
> the lots  (that's what I would do...)
>






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[AsburyPark] Re: IStar

[radio881gal]

Oak -
What did you mean by what's backing their 'investments'?


--- In AsburyPark@yahoogroups.com, "oakdorf"  wrote:
>
> Maybe if their asset manager would return a phone call, they'd be able to 
> unload a property or two in AP and I'd make a buck or two.
> 
> "...and either sell them at a discount or operate them until the market picks 
> up steam in the next few years."
> 
> Until the market picks up steam.<
> 
> First you have to look at those "investments" and what backed them.
> 
> Until the market picks up steam.
>






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[AsburyPark] City to Create/ Lease Parking Lots - Council Mtg 8/4/10

[radio881gal]

My reporter's notebook is up now on WWW.AsburyRadio.com
Thanks,
Maureen





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[AsburyPark] Re: January 21 Council Meeting mp3s on Asbury Radio.com

[radio881gal]

I think the internet was kind of screwed up last night.
Gabrielle - you had no trouble posting a comment to Asbury Radio, 
right?
If you don't want to try again, Werner, I'll post your comment here 
as a new post on the site.
You're welcome,
Maureen

--- In AsburyPark@yahoogroups.com, "wernerapnj"  
wrote:
>
> --- In AsburyPark@yahoogroups.com, "radio881gal"  
wrote:
> >
> > Speaking of hard questions, Werner, you asked a few last night.
> > And Reidy's nonresponse response prompts a comment from you. 
> > 
> > You can't let it hang like that. We've talked about it before. 
It's a 
> > confusing mess that contempt of court business. But you can find 
a 
> > way to summarize so we don't all die of legaleze. 
> > Please post the comment on AsburyRadio.com where the exchange 
can be 
> > heard. And please explain why Bill Gray isn't heard on there 
even 
> > though his name is on the agenda. 
> > I wrote Reidy to ask the reason for his not being there. If I 
get a 
> > reply, I'll post it.
> ===
> 
> I tried to post a comment on your Blog, what a pain. I was directed
> through 4 or 5 windows trying to use my AOL id. Preview didn't 
work,
> and finally got an error window saying Google had a problem.
> 
> Here's the comment, sort of, since I lost the original.
> 
> Reidy's non-answer is typical of Asbury Park. I was jailed twice 
for
> issues with my porch, etc. The official record shows 'contempt' as 
the
> charge. Nice way to bury the truth, anything can be 'contempt' at 
the
> whim of the judge... sneezing, talking, cell phone ringing, etc. If
> the record had shown 'porch needs repair' it would have been 
laughed
> out of Superior Court on appeal. So they get to say 'contempt' and
> save face while burying the whole episode.
> 
> Werner
>





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[AsburyPark] Re: Impact of Unsold Condos on AP Appraisals

[radio881gal]

Thanks, ShortSale
So taking that practice into current economic times when banks 
aren't lending to anyone, this BPO procedure that would be used when 
foreclosure seems likely might be applied to even homeowners who are 
up to date on their mortgages. Seem reasonable?
Maureen

--- In AsburyPark@yahoogroups.com, "theshortsalepro"  
wrote:
>
> A BPO, or Brokers Price Opinion, doesn't carry the weight of a 
> certified appraisal, or the price tag... A BPO can be just as 
accurate 
> as a full appraisal, or, riddled with inaccuracies intentional 
or 
> otherwise.
> 
> 
> There are cursory drive-by BPOs, or more involved, interior BPOs.
> 
> Typically, when a mortgage loan is delinquent, in deefault, or at 
risk 
> of foreclosure, a BPO performed by a local real estate broker, or 
> broker's agent, is used by a mortgage loan servicer who needs to 
> confirm a property's occupancy status, and general market value.
> 
> During the course of a mortgage loan's delinquency and 
foreclosure, 
> drive-by BPOs with photo snap might be conducted monthly...
>





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[AsburyPark] Re: Impact of Unsold Condos on AP Appraisals

[radio881gal]

Thanks, Oak.
To clarify, I'm not looking for a mortgage to buy a north beach 
condo. I was just dumbfounded by a really low ball drive by (thanks 
Jen) BPO from both Wells Fargo and Sovereign that quoted $272,000 - 
right down to the $2,000 they matched -- for my townhouse, when the 
last unit sold for $650,000, two to three years ago. When I started 
asking around, people said that companies use formulas that figure 
in unsold housing units, which count against property values in a 
community. We've got a lot of unsold housing stock.
Say it ain't so...
Maureen 

--- In AsburyPark@yahoogroups.com, "oakdorf"  wrote:
>
> --- In AsburyPark@yahoogroups.com, "radio881gal"  
> wrote:
> >
> > Hi, Jennifer -
> > Thanks for the information. I imagine it's hard for someone 
buying 
> a 
> > unit in North Beach to get a mortgage since they instituted the 
> > process by which they only finish off a unit as it's sold.
> 
> That's been the case for quite a while. It's the Monterey that the 
> units are shells. Given some of the finishing they did on their 
own, 
> a buyer might be better off having some control over the finish 
> work/quality of materials going in. You want to spend $700k or 
more 
> and have cabinets with gouges that were patched over??
> 
> I think Amboy had some of the original loans out on N. Beach. If 
they 
> are still sitting on it, I'd go to them for a mortgage. They would 
be 
> motivated. They are actaully a pretty good bank to do business 
with 
> and don't mess around.
> 
> They were one of the early banks to have moved bad debt off their 
> books to another holding company - I think that's what the press 
> reported about three years ago . They made a bunch of large bets 
in 
> Monmouth county development.
>





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[AsburyPark] Re: Impact of Unsold Condos on AP Appraisals

[radio881gal]

North Beach was dealing through Amboy National Bank.
Maureen

--- In AsburyPark@yahoogroups.com, "Jennifer"  
wrote:
>
> Hi Maureen,
> > I heard of another report that you might know of, the BPO? Not 
sure 
> > I have the acronym right, but it means a broker's opinion.
> > Heard of that one? I think banks use it for ballpark figures, 
before
> > they decide whether the loan is going to go through and a full 
> appraisal is justified
> 
> Warning, I am about to get wonky.  I've tried to define my 
mortgagese,
> but if anyone has a question please let me know.
> 
> A BPO or drive by appraisal is used primarily for refinances with a
> high loan to value (i.e. a $100K loan on a $300K property) or when
> there is a fairly recent appraisal in a stable or rising market.  
They
> can also be used in foreclosure situations to allow the owner to 
do a
> short sale (sell for less than they owe because the property value 
has
> decreased and the owner is behind on the mortgage).
> 
> Purchase appraisals in my experience are always done by an 
appraiser,
> but I have only worked for and with banks.  Maybe some mortgage
> companies do drive by's?  Sorry to honorable mortgage companies, 
but a
> lot of them are shifty as they don't have much skin in the game.  
> 
> You're right about condos as a community though.  Appraisers use
> comparable sales of like properties to determine value.  My house 
on
> 1st Ave was comped with other single family houses on the northwest
> side of AP.  It was a rehab loan so it was comped with other
> distressed properties first then given a projected repaired value 
by
> comping it with other nice homes in the same area.  There is wiggle
> room here too, but most appraisers I have worked with are on the up
> and up.  Again, having worked for and with banks.  There is a
> preferred appraiser for Asbury Park.  I can't remember the company,
> but they were local and very good at assigning true value.  BNY 
wanted
> to lend in AP.  Lenders do work to make loans where they want or 
need to.
> 
> Anyhow, You can't appraise a single family home comparing it to a
> condo or a multi and vice versa.
> 
> I'm not sure how North Beach is operating their sales and 
financing. 
> They could have a variance to let them sell individually or sales
> could be mostly cash or they might have a portfolio lender who is
> willing to take on the risk.  I don't see any ads for financing on
> their site.  So I can only guess.  
> 
> It is easy enough to find out though.  Go to their sales office and
> ask them about financing.  
> 
> Jennifer
>





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[AsburyPark] Re: Impact of Unsold Condos on AP Appraisals

[radio881gal]

I think the number of units initially "sold" in North Beach depends 
on the definition of the word, "sold". It appears that it was 
loosely applied in an effort to create a bigger buzz, or maybe it's 
industry practice. 
A unit is sold, according to the city, when a CO is issued. However, 
North Beach, and probably Wesley Grove, too, labeled units sold when 
they had a contract on them. Judging by the number of people who 
backed out it would appear most of those "sales" were to people who 
never intended to retain "ownership".
As for the BPO, I think banks are using these loose ballpark 
appraisals to justify refusing equity lines or loans and 
refinancings. 
That practice can affect many people. What if wealthy people are 
using those values in margin accounts for trading? I'm guessing now, 
because I don't know if you can post illiquid assets for trading 
purposes. Anyone know?
Maureen


--- In AsburyPark@yahoogroups.com, "fredrmr"  wrote:
>
> --- In AsburyPark@yahoogroups.com, "oakdorf"  wrote:
> >
> > --- In AsburyPark@yahoogroups.com, "theshortsalepro"  
> wrote:
> > >
> > > A BPO, or Brokers Price Opinion, doesn't carry the weight of a 
> > > certified appraisal, or the price tag... A BPO can be just as 
> accurate 
> > > as a full appraisal, or, riddled with inaccuracies 
> intentional or 
> > > otherwise.
> > >
> > 
> > And in the end, it's only a guide or GUESS as to what someone 
might
> > pay IF they want to buy your property.
> > 
> > Look at the eminent domain cases for an easy example from two 
> experts.
> > 
> > In my area, we have the syrian factor. That's a mysterious 
number 
> you
> > can apply to a property about this time of year or the end of the
> > summer. you can't comp it either. It has to do with the 
proximity to
> > Deal and to one of the temples. It has to be under one mile. 
More 
> land
> > is better...
> > 
> > The house next to me was just sold. I don't know the selling 
price
> > yet. I just saw it getting surveyed. She didn't even have to use 
her
> > friendly neighbor agent either. She turned down one guy on the 
other
> > side of me... 
> > 
> > I know the house will never appraise for what my guess is the 
house
> > sold for. The value of land to a guy from brooklyn is priceless, 
the
> > house almost meaningless.
> > 
> > One original thought for North Beach would be that the crowd from
> > Broklyn would buy em up. Many did have contracts and multiple 
units
> > but I don't think, because of the delays, they ever closed.
> > 
> > Seems like yesterday they were sold out with 1,000 people on the
> > waiting list at north beach
> > 
> 
> I think that as Deal properties get filled up and are still very 
> expensive, Asbury Park North could become the next Deal south.  I 
saw 
> the same expansion occur in Brooklyn as more room was needed for 
> large families.
>





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[AsburyPark] Re: Henderson

[radio881gal]

Somehow I just don't think so.
Sue has always struck me as someone who likes to do a lot of things 
for the community, because they need doing -- not because the click 
is doing something. And I think she keeps her own counsel, if you'll 
pardon the pun. If Loffredo thinks he can run-herd on Sue, I think 
he's in for a surprise. I've watched her conduct the Homeowners Assn. 
meetings. She's fair and pretty stern. No nonesense. I don't see her 
acquiescing to the Partners when they balked at developers having to 
post performance bonds. No sir. That would not fly with Sue.
Just a feeling.
By the way, what about that letter of credit? Remember how Fishman 
kept putting it off? Was that when MM came into the picture?
Maureen 

--- In AsburyPark@yahoogroups.com, "wernerapnj"  
wrote:
>
> --- In AsburyPark@yahoogroups.com, "Gabrielle Obre"
>  wrote:
>  
> > Someone told me that Henderson is a long time friend of Loffredo. 
If
> > that's true it sounds sorta incestuous. I could see the current
> > council picking a yes man.
> > 
> ==
> 
> Certainly seems like the case.
> 
> "Go along to get along" 
> 
> Instead of asking those hard to answer questions.
> 
> 
> Werner
>





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[AsburyPark] Re: January 21 Council Meeting mp3s on Asbury Radio.com

[radio881gal]

Speaking of hard questions, Werner, you asked a few last night.
And Reidy's nonresponse response prompts a comment from you. 

You can't let it hang like that. We've talked about it before. It's a 
confusing mess that contempt of court business. But you can find a 
way to summarize so we don't all die of legaleze. 
Please post the comment on AsburyRadio.com where the exchange can be 
heard. And please explain why Bill Gray isn't heard on there even 
though his name is on the agenda. 
I wrote Reidy to ask the reason for his not being there. If I get a 
reply, I'll post it.
Maureen

--- In AsburyPark@yahoogroups.com, "wernerapnj"  
wrote:
>
> --- In AsburyPark@yahoogroups.com, "Gabrielle Obre"
>  wrote:
>  
> > Someone told me that Henderson is a long time friend of Loffredo. 
If
> > that's true it sounds sorta incestuous. I could see the current
> > council picking a yes man.
> > 
> ==
> 
> Certainly seems like the case.
> 
> "Go along to get along" 
> 
> Instead of asking those hard to answer questions.
> 
> 
> Werner
>





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[AsburyPark] Re: Could the city benefit by adding a blog to it's website?

[radio881gal]

Hey, thanks for the plug, G!
Why not use the comments feature on Asbury Radio for a chain of 
commentary? All I have to do is click on the link I get emailed and 
approve the comment -- in case it's some kind a subversive, Alaskan 
propaganda or somethin'.
It's a little confusing, I guess, because my web support inserted the 
blogger.com stuff in the middle of the site. This was so he wouldn't 
have to intervene every time I had something to post.
I was hoping for some dialogue in response to the mp3s. Kind of dry 
without it, actually.
Thanks again - oh, I've got the poll up there now about dining out.
Best,
Maureen  

--- In AsburyPark@yahoogroups.com, "Gabrielle Obre" 
 wrote:
>
> Don't forget to visit Maureen's site. I think she is the only one
> doing the kind of thing she's doing. I don't go to it often enough.
> You can leave comments there, which would obviously be more to the
> point of her articles, and I am guessing she monitors them.
> 
> Also, maybe some help could be sent her way to have more advanced
> recording equipment, tech help etc in the form of $$ or pro bono 
help.
> just a thought.
> 
> There are two different sites, which I'm a little confused about, a
> blog and regular site. Is there a difference Maureen?
> 
> 
> --- In AsburyPark@yahoogroups.com, "Jack Pitzer"  wrote:
> >
> > Something Gabrielle said recently made me think of this concept.
> > I think (hope) there are many people in our city who have good 
ideas
> that they would like 
> > to be heard and discussed on the city level, but I also think that
> it may be tough to find 
> > the time to actually attend council meetings and such.
> > Of course, it would take moderation and time, which costs money, 
but
> perhaps the 
> > effectiveness of such a forum would justify the cost.
> > 
> > 
> > --- In AsburyPark@yahoogroups.com, "Michael W. Brim"  
wrote:
> > >
> > > Jack:
> > > 
> > >  
> > > 
> > > Interesting concept.  
> > > 
> > >  
> > > 
> > > Not sure if I would want my tax dollars going to support .. the 
like
> > > comments from this list!
> > > 
> > >  
> > > 
> > > At least the posted would be signed.
> > > 
> > >  
> > > 
> > > Michael 
> > > 
> > >  
> > > 
> > > From: AsburyPark@yahoogroups.com
> [mailto:asburyp...@yahoogroups.com] On
> > > Behalf Of Jack Pitzer
> > > Sent: Wednesday, January 21, 2009 9:34 AM
> > > To: AsburyPark@yahoogroups.com
> > > Subject: [AsburyPark] Could the city benefit by adding a blog 
to it's
> > > website?
> > > 
> > >  
> > > 
> > > Yesterday during the transition of power, a new website was 
launched.
> > > http://www.whitehouse.gov
> > > Part of the website is a section called "The Office of Public
> Liason" which
> > > I've read will evolve 
> > > into a public forum.
> > > Wouldn't such a thing be a great addition to our cities 
website? 
> > > A place similar to this where people can brainstorm, post 
ideas, think
> > > aloud?
> > > 
> > >  
> > > 
> > > 
> > > 
> > > [Non-text portions of this message have been removed]
> > >
> >
>





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[AsburyPark] January 21 Council Meeting mp3s on Asbury Radio.com

[radio881gal]

Got a pic of Sue Henderson taking the oath and sound files for most of 
the meeting, including the new appointments and reappointments to 
committees and, of course, the public portion. 
I put the mp3 recorder right up next to clerk Steve Kay, so you can 
actually hear what he's saying now. That's important because most 
times all you hear from the council is move it, pass, yes...etc. This 
way you can hear what they're approving.
Maureen




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[AsburyPark] Re: Impact of Unsold Condos on AP Appraisals

[radio881gal]

Hi, Jennifer -
Thanks for the information. I imagine it's hard for someone buying a 
unit in North Beach to get a mortgage since they instituted the 
process by which they only finish off a unit as it's sold. That's 
why it's so important for a community to have a detailed performance 
agreement-- and a bond for security -- so the community can collect 
from the bond insurer if for some reason construction is halted or 
the units don't sell.
And thanks for that link.
It looks like that form is used in appraising a condo within a condo 
community. What I was wondering was if communities of unsold condos 
affect the values of the housing throughout the immediate area. 
It's very helpful though to see what forms appraisors are using. 
They seem to have a lot of freedom to be subjective.
I heard of another report that you might know of, the BPO? Not sure 
I have the acronym right, but it means a broker's opinion.
Heard of that one? I think banks use it for ballpark figures, before 
they decide whether the loan is going to go through and a full 
appraisal is justified. 
Thanks again,
Maureen
--- In AsburyPark@yahoogroups.com, "Jennifer"  
wrote:
>
> I am not an appraiser.  I know that banks appraisals determine 
value
> using a form called the Uniform Residential Appraisal Report 
(URAR). 
> You can find a copy online through this link
> 
https://www.efanniemae.com/sf/formsdocs/forms/pdf/sellingtrans/1004.p
df
> URAR has always asked questions about one unit housing trends and 
you
> will see there is a box asking if the house is in a high demand or
> over supplied area.  
> Condos as a whole can be difficult to mortgage if a large 
percentage
> is not owner occupied.  Fannie, Freddie and FHA require that 51%+ 
of
> the condo units be owner occupied in order to obtain a mortgage.  
This
> can be a big problem if people buy into a complex, over time it
> becomes mostly rentals and cannot be conventionally refinanced.
> So, yes empty condo units can have an adverse effect on both value 
and
> ability to mortgage.
> Jennifer
>





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[AsburyPark] Impact of Unsold Condos on AP Appraisals

[radio881gal]

Hi all - especially those in real estate and appraising.

A friend tells me recently that real estate agencies are using a 
formula for determining market values that goes beyond the comparable 
sales model. He says the formula in use now takes into account unsold 
condos, of which we have a few laying around. 
Can our members confirm, clarify or deny this?
This information coincides with some a source gave me a year or so 
ago. The source, who was in loan syndication, said lenders were 
starting to pay more for better research, more detailed estimates of 
local markets, which would take into account not just blighted 
regions, as we were categorized when I moved here in '99, but whether 
there were blighted or shabby houses, or vacant lots and unrented or 
empty buildings in the vicinity. 
If it wasn't for asphalt, I believe we'd have cornered the market 
on 'vacant lots'. And previously inhabited apartment buildings have 
been bought out, emptied out and sit empty now. And then there are 
the dozens of unsold condos and townhouses.
Anyone who's recently tried to get an equity loan or extend their 
equity line would probably know this already.
But we as taxpayers have a right to know exactly how much the 
unsold condos figure into decline in market values here in Asbury 
Park, since many have been asking for a moratorium on conversions and 
new development for some time now. 
Not everyone here approved of the extent of the density in the 
waterfront redevelopment plan and the lack of market forecasts in the 
process of determining how much was enough and how much was too many. 
Market forecasts? We don't need no stinkin' market forecasts.
We were told the developers needed to make a profit. 
   Now we're being told nothing is selling anywhere so Asbury is just 
a victim of the economy. With the election coming up, prepare to hear 
this over and over. We may not have succeeded in finding a 
sustainable redevelopment plan, but we sure have really nailed how to 
spin a story. 
   And speaking of elections, a favorite theme of Obama's has been 
accountability. So I don't see him rushing in to save a community 
that cast aside common sense -- as in no performance bonds -- in its 
business dealings.
I am excited about the inauguration tomorrow though. Hope you enjoy 
it, too.
Maureen




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[AsburyPark] Stephen Crane House in Asbury Park Press Today

[radio881gal]

Wanted to alert Asbury Park fans to the fact that my column, Radio 
Somewhere, this week features the Stephen Crane House at 508 Fourth 
Avenue. I've posted a copy of the column on AsburyRadio.com with some 
photos of the Crane Players from previous years. Owner and host Frank 
D'Alessandro has a great Edgar Alan Poe event coming up. Please check 
out details by clicking on the picture of the Crane House on to the 
left on the site.
Thanks!
Maureen
By the way, something else I forgot to include just now on the site, 
Frank rarely invites contributions. When he does it's usually for a 
charity, often AP's Little League, under the loving direction now of 
Danny McKee. 




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[AsburyPark] Re: January 7 Council Meeting - Recordings Posted Now

[radio881gal]

Werner -
I think it's important for the community to have all the grinding 
details on what you're going through, since you really need public 
opinion now. It's my hunch that if citizens were aware of this 
injustice, they would be rallying behind you.
So condense and summarize where you can, but do the explaining, 
please.
Maureen 

--- In AsburyPark@yahoogroups.com, "wernerapnj"  
wrote:
>
> --- In AsburyPark@yahoogroups.com, Allan Peterson  
wrote:
> >
> > Werner,
> > 
> > Were you placed in jail due to violations or for not following the
> court.  I am a bit confused becuase I have not heard of some being 
set
> due to code on a single family residence.  I know if someone does 
not
> follow an order, which is agreeded upon at a hearing, then they 
could
> be sentenced.  
> > 
> 
> 
> Allan, Needless to say its complicated/convoluted - but it an 
attempt
> to simplify...
> 
> - I was told I would be made a "Special Project" by code 
enforcement.
> 
> Werner
>





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[AsburyPark] Re: Wish You Were Here for Sale

[radio881gal]

Jennifer -
I didn't know Cathy was having to sell.
That is a tremendous loss. Maybe it was the hours that got to them. 
As you say, they did maintain great hours, which is key to success 
on that strip. I say this because Cathy always told me they were 
doing pretty well there. 
I bought 90% of my Chrismas gifts there year before last. This last 
Christmas we didn't exchange.
Hey, if the Big Box stores are ailing, it's no wonder...
I'm very sorry to hear this though.
Maureen

--- In AsburyPark@yahoogroups.com, "Jennifer"  
wrote:
>
> I stopped by Wish You Were Here the week before Christmas to get 
my son 
> stocking stuffers.  He loves their candy counter especially the 
candy 
> cigarettes.  Cathy has a sign on the counter that the store is for 
> sale.  I think is so sad.  She's been there for a long time and 
she is 
> always open.  Not every store on Cookman can share that fact.  I 
don't 
> work downtown anymore or I'd go there more.  The only way to keep 
> businesses open is to visit them.  Wish You Were Here isn't 
expensive.  
> They have really unique items and they sell retro candy (the 
> aforementioned cigs, Clark's teaberry gum, pop rocks, fun dip, 
mary 
> janes, etc.).  
> 
> I remember when Cookman was so dead that I expected to see 
tumbleweeds 
> blowing down the street.  It could happen again.  Anything can 
happen 
> again.  
> 
> Jennifer
>





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[AsburyPark] Correction to Council Meeting 1/7/09 Report

[radio881gal]

Please note that on www.AsburyRadio.com, John Napolitani, who is among 
those who have applied to fill councilmember Jim Keady's unexpired 
term, was incorrectly identified as an AP Board of Ed member. John is 
president of the Asbury Park Education Association. My thanks to 
former Board of Education member, Frank D'Alessandro for pointing this 
out. I welcome additions and corrections/clarifications. So please 
send them on.
Thanks,
Maureen




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[AsburyPark] Re: Sears's Base

[radio881gal]

Oak -
Interesting point about Sears owning so much land. But I was under 
the impression Sears's strong hold was its electronic payment 
network. I believe they had a system for the electronic exchange of 
money before Visa or Mastercard. I think the network was related to 
its geographic dominance as a chain. I'm trying to remember now if 
the network had something to do with its auto insurance arm, too.
That's how they were able to offer the Discover Card, which 
originally competed against Visa and MasterCard. Not sure if it's 
part of their system now.
However, appliance-wise the product has gone down hill. My ex, 
Jules, bought all his appliances for the 4th Av house in '99 from 
Sears, at my urging of course. ;-( And he had trouble with 
practically every one. Factory defect stuff. The Sears repair guys 
were always there. A nightmare.
Maureen
 
 

--- In AsburyPark@yahoogroups.com, "oakdorf"  wrote:
>
> --- In AsburyPark@yahoogroups.com, "wernerapnj"  
wrote:
> >
> 
> you're getting carried away ):
> 
> 
> Whoever mentioned the appliance place up noth, thanks.
> 
> 
> Wound up at sears this am, and found a closeout, in a box on the 
floor
> ( I had to ask the sales guyy - hey waht about this one...) 
> 
> reg price was $700, sold it for $314 - gas dryer. new and solid vs
> their low end stuff.
> 
> Not sure if there still is - but sears used to have a scratch and 
dent
> in lakewood (think they stll do), plus they used to ahve a huge 
one in
> Voorhees. If you hit it right  - you did very well.
> 
> I foreget about sears. Almost all our appliances over the years in 
my
> rentals were from sears - or yard sales.
> 
> Sears is probably one of the strongest retailers out there - why? 
Real
> Estate. They typically own the land they're on or leased it for 
years
> and years. They got kmart cheap  - they bought because of their 
real
> estate - real low leases - old stores, great highway locations - 
and
> many stores in nj pay about $3 sq fott in rent - about $320,000 
year
> in rent for the entire store plus their taxes. So look at these 
places
> as what they were and can become a again - a traditional discoiunt
> department store - selling tvs, mattresses, applicances etc - all
> those things that people run off to circuit city and rest of the
> "Boxes" for. Sears has lands end and many other pieces - plus a 
huge
> database of names and addresses
>





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[AsburyPark] January 7 Council Meeting - Recordings Posted Now

[radio881gal]

Hi guys and gals -
I've got my notes and recordings from this week's council meeting up on 
www.asburyradio.com now. I think the recordings start after the annual 
new year appointments and reappointments. If I so and I can get them 
from clerk Steve Clerk, I'll post them.
There's a lot of discussion devoted to the ordinance implementing the 5-
year tax abatement. Now that I've had a chance to read the ordinance, 
it certainly says it supercedes all other such exemptions. I'd 
interpreted Reidy's explanation as meaning that this was for 
individuals who'd fixed up their homes, so they wouldn't get wacked 
with a tax hike right away. But the ordinance states that it applies to 
industrial and commercial projects, too. 
Maybe Jim is familiar with this one.
You can also hear City Attorney Tom Hastie's explanation very clearly 
on the recordings. See what you think.
Thanks for checking it out!
Maureen




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[AsburyPark] Re: "It's A Wonderful Life" in Asbury Park, but....

[radio881gal]

Hi Mario -
Was the charge theft? Or failure to meet a deposit to the Feds?
If it was a deposit then the money would cover it - wasn't there a 
midnight deadline? Doesn't sound like theft to me if there was a 
midnight deadline...
Please check this out. I won't be able to sleep...
Merry Christmas, Mario!
Maureen
--- In AsburyPark@yahoogroups.com, marioa...@... wrote:
>
> "It's A Wonderful Life" in Asbury Park, but is Asbury Park to be 
modeled on  
> Pottersville or Bedford Falls?
>  
> A fun, roller coaster ride of a read:
> 
> ==
>  
> Excerpts, hopefully without wingdings,  from 
_http://tinyurl.com/83xutq_ 
> (http://tinyurl.com/83xutq) 
>  
>  
> Wonderful? Sorry, George, It’s a Pitiful, Dreadful Life,  
December 19,  2008 
> 
>  
> “It’s a Wonderful Life” is a terrifying, asphyxiating story 
about growing  
> up and relinquishing your dreams, of seeing your father driven to 
the grave  
> before his time, of living among bitter, small-minded people. It is 
a story of  
> being trapped, of compromising, of watching others move ahead and 
away, of  
> becoming so filled with rage that you verbally abuse your children, 
their  
> teacher and your oppressively perfect wife. It is also a nightmare 
account of an  
> endless home renovation….
>  
> Here’s the thing about Pottersville that struck me when I was 15: 
It looks  
> like much more fun than stultifying Bedford Falls â€" the women are 
hot, the 
> music  swings, and the fun times go on all night. If anything, 
Pottersville 
> captures  just the type of excitement George had long been 
seeking….
>  
> But isn’t George still liable for the missing funds, even if he 
has made  
> restitution? I mean, if someone robs a bank, and then gives the 
money back, that  
> person still robbed the bank, right? 
> I checked my theory with Frank J.  Clark, the district attorney for 
Erie 
> County upstate, where, as far as I can  tell, the fictional Bedford 
Falls is set. 
> He thought it over, and then agreed:  George would still face 
prosecution and 
> possible prison time….
>  
> He paused, and then added: “You really have a cynical sense of  
humor.”
> He should have met me when I was 15.…
>  
> Not only is Pottersville cooler and more fun than Bedford Falls, it 
also  
> would have had a much, much stronger future. Think about it: In one 
scene George  
> helps bring manufacturing to Bedford Falls. But since the era of 
“It’s a  
> Wonderful Life” manufacturing in upstate New York has suffered 
terribly.
>  
> On the other hand, Pottersville, with its nightclubs and gambling 
halls,  
> would almost certainly be in much better financial shape today. It 
might well be  
> thriving.
> I checked my theory with the oft-quoted Mitchell L. Moss, a  
professor of 
> urban policy at New York University, and he agreed, pointing out  
that, of all 
> the upstate counties, the only one that has seen growth in recent  
years has 
> been Saratoga.
>  
> “The reason is that it is a resort, and it has built an economy 
around  that,”
>  he said. 
>  
> “Meanwhile the great industrial cities have declined 
terrifically. Look at  
> Connecticut: where is the growth? It’s in casinos; they are 
constantly  
> expanding.”
>  
> =
>  
> If all this punctures your fondness for the film, be sure to read 
the last  
> few paragraphs.
>  
> _James  Stewart and Frank Capra’s ‘It’s a Wonderful Life’? 
It’s a Miserable 
> Life! -  NYTimes.com_ 
> (http://www.nytimes.com/2008/12/19/movies/19wond.html?_r=1&em)  
>  
> 
>  
>  
>  
> **One site keeps you connected to all your email: AOL 
Mail, 
> Gmail, and Yahoo Mail. Try it now. 
> (http://www.aol.com/?optin=new-
dp&icid=aolcom40vanity&ncid=emlcntaolcom0025)
> 
> 
> [Non-text portions of this message have been removed]
>





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[AsburyPark] Sound, Pictures and Story from last Council Meeting of 08 on Asbury Radio Now

[radio881gal]

Hi everybody -
Happy holidays!! I hope to write some cards out tomorrow. But if I 
don't get to it, you know I care... (Oh, god, that sounds so 
insincere.) Hey, if I didn't love you would I spend hours on sound 
files and ftp-ing? The council meeting for the mostpart is represented 
up there on www.asburyradio.com right now.
  So you'll be glad to hear that the city reached an agreement with 
Paramount Homes, developers of North Beach, to pay $560,000 in taxes - 
some time in 2009. Yes, I hope it's soon, too.
   And, we no longer have to separate our recycling. Some people knew 
this already. It will be official in the new calendar, but it's in 
effect now!!! Eureeka. It takes so little to make me happy these days...
Hope Santa is good to you!!
Maureen




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[AsburyPark] Re: One of Madison Marquette's Parent Fund's Funders

[radio881gal]

I don't think most environmentalists today share your opinion of 
Cherokee. I did at first. But then the Petty's Island incident 
surfaced.
Maureen

--- In AsburyPark@yahoogroups.com, "dougandcathy_mcqueen" 
<[EMAIL PROTECTED]> wrote:
>
> For what it's worth:
> 
> My only knowledge of Cherokee is from an academic perspective, 
> studying environmental remediation and brownfield redevelopment.  
> From what I have seen about them (specifically some major projects 
in 
> Denver) they are excellent at what they do, which is to tackle 
> redevelopment and adaptive reuse projects that other government or 
> private entities are incapable of even contemplating.  They have 
some 
> very respected professionals among their executive ranks.
> 
> In my opinion, if Cherokee and MM are tangentially related, AP is 
> better off for it.
> 
> Doug 
> 
> --- In AsburyPark@yahoogroups.com, Allan Peterson  
> wrote:
> >
> > Fusco was a VP with Cherokee and involved with EnCap.  
> > 
> > 
> > 
> > 
> > 
> > From: radio881gal 
> > To: AsburyPark@yahoogroups.com
> > Sent: Monday, December 1, 2008 6:04:41 PM
> > Subject: [AsburyPark] Re: One of Madison Marquette's Parent 
Fund's 
> Funders
> > 
> > 
> > Oak -
> > So Fusco worked for Cherokee before?
> > I am surprised. He doesn't strike me like someone with a long 
> history 
> > in the business. 
> > So what's the deal with Cherokee. We never hear about them, even 
> > though they own or did own 50% of the partners. We've never 
heard a 
> > peep out of them.
> > Any ideas on that?
> > Maureen
> > 
> > --- In [EMAIL PROTECTED] ups.com, "oakdorf"  wrote:
> > >
> > > --- In [EMAIL PROTECTED] ups.com, "radio881gal" 
 > 
> > > wrote:
> > > >
> > > > Don't look now, but one of the funds Anselm of Madison 
> Marquette 
> > > told 
> > > > me is a big investor in Capital Guidance, which owns MM, 
> > now "faces 
> > > > billions in losses", according to today's Wall St. Journal.
> > > 
> > > 
> > > Really...check the dotted lines. They often rate a 
> > cirlceCherokee 
> > > to MM...
> > > 
> > > Like:
> > > 
> > > It also would help the development in Camden, said Anselm 
Fusco, 
> > > Cherokee's senior vice president of development.
> > > 
> > > "It will create enthusiasm in the marketplace and enhance home 
> > > buyers' perception of all the projects," Fusco wrote in 
response 
> to 
> > > questions.
> > > ...
> > > Fusco said Cherokee felt the plan "strikes a good balance 
between 
> > > preservation and redevelopment" but was open to changes, 
provided 
> > > they addressed economic realities - a sentiment echoed by 
> > > Pennsauken's township administrator, Robert Cummings. 
> > > 
> > > ...Anselm Fusco, Cherokee's senior vice president of 
development, 
> > > reported that preliminary investigations have found 500,000 
> gallons 
> > > of petroleum products in the soil of Petty's Island that are 
> > leaking 
> > > into the Delaware River.
> > >
> > 
> >  
> > 
> > 
> >   
> > 
> > [Non-text portions of this message have been removed]
> >
>





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[AsburyPark] Re: One of Madison Marquette's Parent Fund's Funders

[radio881gal]

Thanks, Allan.
Wasn't that the plan to create a golf course, etc. up in the 
Meadowlands?

--- In AsburyPark@yahoogroups.com, Allan Peterson <[EMAIL PROTECTED]> 
wrote:
>
> Fusco was a VP with Cherokee and involved with EnCap.  
> 
> 
> 
> 
> ____
> From: radio881gal <[EMAIL PROTECTED]>
> To: AsburyPark@yahoogroups.com
> Sent: Monday, December 1, 2008 6:04:41 PM
> Subject: [AsburyPark] Re: One of Madison Marquette's Parent Fund's 
Funders
> 
> 
> Oak -
> So Fusco worked for Cherokee before?
> I am surprised. He doesn't strike me like someone with a long 
history 
> in the business. 
> So what's the deal with Cherokee. We never hear about them, even 
> though they own or did own 50% of the partners. We've never heard 
a 
> peep out of them.
> Any ideas on that?
> Maureen
> 
> --- In [EMAIL PROTECTED] ups.com, "oakdorf"  wrote:
> >
> > --- In [EMAIL PROTECTED] ups.com, "radio881gal"  
> > wrote:
> > >
> > > Don't look now, but one of the funds Anselm of Madison 
Marquette 
> > told 
> > > me is a big investor in Capital Guidance, which owns MM, 
> now "faces 
> > > billions in losses", according to today's Wall St. Journal.
> > 
> > 
> > Really...check the dotted lines. They often rate a 
> cirlceCherokee 
> > to MM...
> > 
> > Like:
> > 
> > It also would help the development in Camden, said Anselm Fusco, 
> > Cherokee's senior vice president of development.
> > 
> > "It will create enthusiasm in the marketplace and enhance home 
> > buyers' perception of all the projects," Fusco wrote in response 
to 
> > questions.
> > ...
> > Fusco said Cherokee felt the plan "strikes a good balance 
between 
> > preservation and redevelopment" but was open to changes, 
provided 
> > they addressed economic realities - a sentiment echoed by 
> > Pennsauken's township administrator, Robert Cummings. 
> > 
> > ...Anselm Fusco, Cherokee's senior vice president of 
development, 
> > reported that preliminary investigations have found 500,000 
gallons 
> > of petroleum products in the soil of Petty's Island that are 
> leaking 
> > into the Delaware River.
> >
> 
>  
> 
> 
>   
> 
> [Non-text portions of this message have been removed]
>





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[AsburyPark] Re: One of Madison Marquette's Parent Fund's Funders

[radio881gal]

Oak -
So Fusco worked for Cherokee before?
I am surprised. He doesn't strike me like someone with a long history 
in the business. 
So what's the deal with Cherokee. We never hear about them, even 
though they own or did own 50% of the partners. We've never heard a 
peep out of them.
Any ideas on that?
Maureen

--- In AsburyPark@yahoogroups.com, "oakdorf" <[EMAIL PROTECTED]> wrote:
>
> --- In AsburyPark@yahoogroups.com, "radio881gal"  
> wrote:
> >
> > Don't look now, but one of the funds Anselm of Madison Marquette 
> told 
> > me is a big investor in Capital Guidance, which owns MM, 
now "faces 
> > billions in losses", according to today's Wall St. Journal.
> 
> 
> Really...check the dotted lines. They often rate a 
cirlceCherokee 
> to MM...
> 
> Like:
> 
> It also would help the development in Camden, said Anselm Fusco, 
> Cherokee's senior vice president of development.
> 
> "It will create enthusiasm in the marketplace and enhance home 
> buyers' perception of all the projects," Fusco wrote in response to 
> questions.
> ...
> Fusco said Cherokee felt the plan "strikes a good balance between 
> preservation and redevelopment" but was open to changes, provided 
> they addressed economic realities - a sentiment echoed by 
> Pennsauken's township administrator, Robert Cummings. 
> 
> ...Anselm Fusco, Cherokee's senior vice president of development, 
> reported that preliminary investigations have found 500,000 gallons 
> of petroleum products in the soil of Petty's Island that are 
leaking 
> into the Delaware River.
>





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[AsburyPark] Re: One of Madison Marquette's Parent Fund's Funders

[radio881gal]

--- In AsburyPark@yahoogroups.com, "jwkeady" <[EMAIL PROTECTED]> wrote:
>
> Maureen,
>
> I think that sometimes people stay away from discussions on matters
> like this because we feel that:
>
> 1. "I have no idea what is being discussed here. This conversation is
> way beyond me."
> 2. "Does this talk about Madison Marquette's investors have anything
> to do with me?"
>
> Let's dig into these legitimate concerns/questions and do some
> explaining. For everyone's benefit, can you please answer the
> following questions in a way that even a novice on these matters
> could understand?
>
> 1. What is a "fund"? A place where generally securities - either
stocks or bonds - property or cash can grow.  There are as many types of
funds as ideas, within the regulatory framework.
>
> 2. Who is Capital Guidance?  Capital Guidance is a private fund mainly
invested in real estate.
>
> 3. How much of Madison Marquette does Capital Guidance own? CG owns
all of Madison Marquette, according to its website.
>
> 4. If Capital Guidance loses billions of dollars, how might this
> impact Madison Marquette and their dealings here in Asbury Park? Woe,
no one said Capital Guidance was losing billions. If it did, it might
have huge reserves to offset the loss. We don't know, since it's a
private fund - no transparency -- we can't say one way or the other.

Everyday we become more dependent on MM. Now they own Wesley Grove, one
of three fast tracks, if you still include Metro Homes. If CG did have
to restrict cashflow to MM, the city could be stuck with an unfinished
boardwalk retail strip and no company to continue the construction or
run what has been provided. It's more complicated than that since MM has
a joint venture with Asbury Partners for this purpose, which also owns
the land. But you get the general idea. I think this is why City Mgr
Reidy is pushing for a developer agreement in writing with them.
>
> 5. What is a hedge fund? And why would it matter if Capital Guidance
> was or was not a hedge fund?  Hedge funds operate in utmost secrecy
and rely heavily on borrowed money. If Capital Guidance were a hedge
fund in this bad credit market I would be concerned about their ability
to continue borrowing. But Anselm has assured me they are not a hedge
fund.
>
> 6. What is PERS and what does there using a strategy called "portable
> alpha" have to do with Asbury Park?  Doesn't matter about the
strategy, just that they'll probably need to liquidate assets,
investment positions to pay their counterparties back.
> 7. What is a Wall Street trading partner and why does PERS have to
> pay them $2.5 billion and again, what does this have to do with
> Asbury Park?The trading partners here are probably investment
banks, like the ones we've agreed to bail out.  The PERS strategy was
based on the market going up, and worked well then. But when the returns
on the hedge fund investments were lower than the interest rate on the
investments the loses mounted.   Since PERS is said to be a large
investor in Capital Guidance, I'm concerned that they may want to
liquidate in order to raise cash for the counterparties.

>
> 8. What does "liquidating investments" mean and how does one "shore
> up their losses" by doing this? Selling your car for the cash - you
liquidate your asset - and use the proceeds to make good by paying off
your obligations.
>
> 9. What should Capital Guidance have "locked up for a couple of
> years"?   Some funds, usually hedge funds, lock their investors in for
a few years so they can't take their money out unexpectedly. This allows
funds to take longer term positions, which can be lower risk projects.
So it can balance out.  And again, what does this mean for Asbury Park? 
If PERS did decide to liquidate their CG position, they might think
twice and pull out of a different fund if they had to pay a penalty for
early withdrawl. That could buy Asbury Park another couple of years, to
when the economy may be much healthier and the demand for oceanfront
condos may be back. And Tillie comes back to life, and... sorry.
>
> I think that answering these questions may help people understand the
> situation a little better and could give all of us the information we
> need to make intelligent comments.
> Sorry it took so long. I had it all done and decided to use the text
option so my answers wouldn't get lost in the questions, which wiped out
all my answers.  Thanks for asking though.

Maureen
> Now, I am sure that I am not the only person that had questions like
> this, so for those of you on the list that had similar
> thoughts/questions and did not speak up, please do so in the future.
> There is no reason to be embarrassed about a lack of knowledge or
> understanding on these complex financial/investing matters. This is
> serious stuff. Give yourself a break, if this is not your field of
> expertise, why would you have any/all of the answers or even the
> right questions? However, given the current global, national and
> loc

[AsburyPark] Want to Vent on the Economy?

[radio881gal]

Hi again. Almost forgot to tell you about the new blog I started - 
Planet Finance -- as in "Yes, W, it is planet earth but not as we know 
it." H. Paulson.
Small consolation, granted, but at least it's a place where we can 
register our opinions on how to right the ship. And who knows maybe 
someone with influence will read it.
Just go to www.maureennevin.com and click on the link at the top.
Whaddya think?
Maureen




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[AsburyPark] One of Madison Marquette's Parent Fund's Funders

[radio881gal]

Don't look now, but one of the funds Anselm of Madison Marquette told 
me is a big investor in Capital Guidance, which owns MM, now "faces 
billions in losses", according to today's Wall St. Journal.
   See 'Alpha' Bets Turn Sour. 
   Apparently, PERS, the Pennsylvania State Employees Retirement System 
used a strategy called, "portable alpha" to finance investments of $9.2 
billion in hedge-funds. Now PERS could be forced to make cash payments 
of $2.5 billion or more to Wall St. trading partners, according to the 
Journal.
   Last month Anselm and I argued over whether Capital Guidance is a 
hedge fund or not. At that time I was concerned that MM's investments 
here could be in trouble if Capital Guidance were a hedge fund and 
found its credit lines had dried up, since hedge funds are highly 
leveraged. Anselm insists Capital Guidance isn't a hedge fund. But the 
PERS situation is another matter. 
PERS may have to liquidate some of its investments to shore up its 
losses. Let's hope Capital Guidance has them locked in for couple of 
years.  
Anyone want ot venture forth on this one?
Maureen  




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[AsburyPark] Re: Support Asbury Park's Budding Actors - Tonight in Manasquan

[radio881gal]

If you haven't seen the 11th and 12 graders from APHS in the first 
play produced at APHS in 10 years, you have one more opportunity 
tonight at the Algonquin Arts Center in Manasquan, at 7 pm. 
  I saw the show Friday night and it was amazing! These kids are 
like seasoned actors - not one flubbed a line that I could tell. And 
they are so into doing this. I asked one boy what it was like doing 
his role and he said it was really tough playing a student still 
high from smoking pot the night before. He said he'd never taken any 
of that stuff, so he had to work hard to really think about how he 
should act, to slur his words and act goofy, to be believeable. He 
did a pratfall in the opening act that was worthy of Jerry Lewis.
 You can see a cast picture and hear them introduce themselves 
at AsburyRadio.com.
Hope you catch it tonight.
Best,
Maureen  

--- In AsburyPark@yahoogroups.com, "radio881gal" <[EMAIL PROTECTED]> 
wrote:
>
> Tonight & Tomorrow Night Support Asbury Youth 
> 
>  
> Two Opportunities this weekend to support the future actors of 
Asbury 
> Park
> 
> Asbury Park resident Gary Kilmer has been volunteering afternoons 
to 
> introduce kids to acting and the performing arts. And they're 
putting 
> on a show!!!
> 
> Next Friday and Saturday (November 21 and 22), at 8pm, the 
students 
> will present "Voices From The High School" (a play by Peter Dee), 
the 
> first play done at Asbury Park High in nearly 10 years!! They have 
> worked very hard, and in my humble opinion, they have already 
> succeeded.
> 
> Friday, November 21 and Saturday, Nov. 22
> 8pm Asbury Park High School - 1003 Sunset Avenue
> Monday performance at Algonquin Arts Center in Manasquan (7 p.m.).
> 
> Tickets - $5.00 adults, $3.00 for students
> 
> Please…show up.
> Please…cheer loudly.
> Please…support with your presence.
> Please…afterwards, tell them thank you and that you had a nice 
time.
> Please… recognize that the "Bravo!" you shout is as much for the 
> effort as it is for the product.
> They deserve it….THEY showed up.
>





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[AsburyPark] Please Support Asbury Park's Budding Actors - Tonight or T'w Night or Both!

[radio881gal]

Tonight & Tomorrow Night Support Asbury Youth 

 
Two Opportunities this weekend to support the future actors of Asbury 
Park

Asbury Park resident Gary Kilmer has been volunteering afternoons to 
introduce kids to acting and the performing arts. And they're putting 
on a show!!!

Next Friday and Saturday (November 21 and 22), at 8pm, the students 
will present "Voices From The High School" (a play by Peter Dee), the 
first play done at Asbury Park High in nearly 10 years!! They have 
worked very hard, and in my humble opinion, they have already 
succeeded.

Friday, November 21 and Saturday, Nov. 22
8pm Asbury Park High School - 1003 Sunset Avenue
Monday performance at Algonquin Arts Center in Manasquan (7 p.m.).

Tickets - $5.00 adults, $3.00 for students

Please…show up.
Please…cheer loudly.
Please…support with your presence.
Please…afterwards, tell them thank you and that you had a nice time.
Please… recognize that the "Bravo!" you shout is as much for the 
effort as it is for the product.
They deserve it….THEY showed up. 
 





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[AsburyPark] Older African Americans Voice Reactions to Barack's Victory

[radio881gal]

Please check out (at www.asburyradio.com) the voices of residents of 
Asbury Tower as the reality of last night's election began to settle in 
around midnight.
It's wonderful to hear them.
Thanks,
Maureen






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[AsburyPark] Asbury Park's Waterfront Redevelopment Permit Expires in March

[radio881gal]

Sorry if this is a repeat. I wrote a paragraph or two on this a few 
minutes ago and it vanished.
Well, here it is again. Joyce Grant, who is chair of an organization 
called the Citizens for Oceanfront Preservation, obtained a copy of the 
CAFRA permit, which is the coastal land use document that allows the 
redevelopment rights holder -- Asbury Partners LLC - to build or 
contract with others to build -- on the oceanfront here. I think the 
sudden rush to get council approval for the 15 houses East of the 
Asbury Tower, despite the worst real estate market in how many years,  
may be explained by the permit's '09 expiration. It was issued by the 
DEP in March of 2004. I've listed the effective and expiration dates 
with the permit # and contact details for the DEP on AsburyRadio.com.
Thanks,
Maureen




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[AsburyPark] Re: AP City Debt Position and Strategy Explained on Asbury Radio.com

[radio881gal]

I don't mind at all, Gabrielle. Check between the --- below...
Maureen

--- In AsburyPark@yahoogroups.com, "Gabrielle Obre" 
<[EMAIL PROTECTED]> wrote:
>
> Maureen...I can't thank you enough for the work you do on this. 

You're very welcome - I'm very pleased to have the feedback. --- 
I have
> a couple of questions, answer if you can or are up to it.
> 
> Is the 5+ Mil a currently existing debt or funds that the city needs
> for future expenses? 

--These expenses were already approved and passed as capital 
ordinances. In the case of the $475,000 for the reval, it's not been 
spent yet. So some monies may have been actually spent, while others 
may be just allocated but not expensed. -- 
  
> would be sort of a refinance? 
--Yes, it's like a CD, only a debt rather than an asset. So it comes 
due and you either switch to long term debt, pay it outright, get 
another lender at the same or different rate, or keep the same lender 
at the same or a different rate. ---
> 
> What happens if the city can't sell the bonds? -- The city is 
prepared for now at least to get another note, rather than go to the 
bond market, because it's so negative right now. That can change 
though. Banks that have bought our notes in the past include 
Roosevelt & Cross, All Points Public Funding, a division of North 
Fork Bank, Commerce, PNC, and so on... Let's hope the short term note 
interest doesn't rise. --
> 
> I am confused by this:
> Under the state program, the state will defer a portion of its aid
> promised to the city in the amount of the note payments for the 
year,
> placing it instead into an escrow account. This would be the
> equivalent of having money withheld from your paycheck for payment 
of
> a debt.
> 
> Is the aid you mention the 14 mil-ish the state already agreed to? -
- Yes, I believe so. --- so
> that the aid would be used to pay the 5+mil debt? -- Well, it will 
be used in part to make payments on it. It's two notes, at 4% and 
4.75%, depending on whether that's simple interest or not, you can 
probably figure roughly how much the annual payments would come to 
and divide. But the city would be taking from that money to make the 
payments itself anyway. So this takes the guesswork out of it for the 
bond holder. They'll know the money is already in a safe place.--
> 
> excuse my ignorance and thanks again!  -- Not at all. I was very 
pleased that Greg showed patience, talked at a reasonable pace, and 
offered to answer more questions if they came up. I would never have 
been able to catch all of that at the meeting. So fire away!!--
> 
> gabrielle
>





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[AsburyPark] Re: The 700B bailout that wasn't

[radio881gal]

Thanks for posting these links, Mario.
  I'm probably going to get my neck cut, but I've been struggling 
with this whole notion that the mortgages caused this thing, since it 
was the investment banks that started falling before the commercial 
lenders did.   
 Also, these credit derivatives, which grew into highly 
structured products, still based on not what was owned, but what was 
owed, yet treated like they had value, were created long before the 
real estate bubble started growing. 
Did the investment banks start defaulting on the credit default 
swaps they were holding as counterparties? Is that why they started 
slipping and falling first and then the mortgage banks followed? Has 
this scenario been eliminated from the possible?
So in essence I believe these instruments were a product in 
search of a purpose. The cheap money flowing into the banks from 
overseas provided the fuel for the real estate market to go crazy and 
the mortgage market to go wild. I remember thinking, well that won't 
sell at that price cause the comps won't support it. What happened 
there?
Didn't we all wonder how in the world a bank could make money on 
crazy low rates and then 1% interest mortgages? I think they were 
being pushed to do so by the investment banks which wanted to sell 
those Master of the Universe instruments. I haven't seen the cart 
placed this way before the horse, but Charles Morris kind of says so 
in his book. At least he points out the three major forces were 
growing at the same time - real estate, cheap money and these 
instruments. Not sure that he intends the connection the way I've 
stated it here.
Now we've got the Feds supporting the banks that we know would 
fair better if they tell mortgage holders to stuff it, sell the house 
as cheap as they can, take their Federal bailout payment, and rip the 
debt out of their books. They'd even be in a great position to loan 
another mortgage to the new buyer - with a hefty deposit down this 
time. And by the way, how in the world do the Feds and their bailout 
expect the average homeowner whose company has layed him off because 
it couldn't borrow the payroll to keep up any mortgage payments, 
refi'd or otherwise?
Finally, Mario and everyone, I'd like to know what you thought of 
the Paul Solman report with the two academics -- was one of them 
Mendelbot? The younger one who wrote the book on Black Swans railed 
against VaR, or Value at Risk. Do you think there's any truth in 
their gloomy fears of an even more dire domino effect yet to come?
Thanks for listening to my rant...Responses?
Maureen   

--- In AsburyPark@yahoogroups.com, "Mario" <[EMAIL PROTECTED]> wrote:
>
> In a message dated 10/21/2008 4:27:28 P.M. Eastern Daylight Time,
> [EMAIL PROTECTED] writes: --- In AsburyPark@yahoogroups.com,
> "justifiedright"
>  wrote: Politicians are such phonies.  Why isn't 
the
> bank veto power in the > news?
> 
> 
> It absolutely was and is if you read enough. Pick up today's WSJ and
> read about Volcker and Obama.    Also covered 
this
> evening here. Attempts to Ease Credit Crunch Reveal Mixed 
Results |
> Online NewsHour | October 21, 2008 | PBS
> 
> Scroll down to see, especially, "Banks Keeping Capital In-House"  
and 
> "Lacking Incentive to Lend." Also tonight on Charlie Rose:  "A
> conversation with Henry Paulson, United States Treasury Secretary" 
for
> the full hour. Last Friday,  Chairman of the FDICA, Sheila Bair,
> appeared also   http://tinyurl.com/67538g 
 
> with Charlie after the WSJ article about her, "FDIC Raps 
Rescue...": 
> http://online.wsj.com/article/SB122411533644338623.html?
mod=googlenews_w\
> sj
>  wsj>
> We needed to follow the Brits. Prop up
>The UK and France outshone us on this one. 
> 
> 
> [Non-text portions of this message have been removed]
>





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[AsburyPark] AP City Debt Position and Strategy Explained on Asbury Radio.com

[radio881gal]

Update: Asbury Radio spoke with the city's Chief Financial Officer, 
Greg Mayers, on October 20, who clarified the city's debt program for 
us.
Please check this out.
Thanks,
Maureen




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[AsburyPark] Council Meeting of Oct. 15th Report

[radio881gal]

OK The mp3s of this week's council meeting are up there now. Jimmy 
Bruno wasn't feeling well and went home after the executive session. 
Hope you're feeling better, Jim!
One point, I led my report with the fact that we're doing something a 
little different to rollover our existing $5,840,000 bond issue 
(sorry, I don't know what this bond was for), which I think is 
topical and an area we should all be watching especially right now 
with the credit markets the way they are. Through the program, which 
is not new, the state collects the bond debt service from the city
(not sure how many payments this includes) and places it in an escrow 
account, so the bond buyer has this added security. 
  The city's CFO, Greg Mayers, also mentioned a short term Bond 
Anticipation Note being necessary, during this same presentation to 
the council. I didn't get down in my notes how much the note was to 
be for or, and this is important, whether the note was to raise the 
cash to put in the escrow account. But if this is the case, I imagine 
it would add another interest rate cost to our debt position.  
I have made three calls to Greg Mayers office today. I was 
initially told he'd be back in a half hour, then was told he would be 
in in the afternoon, at 2 PM; and at 2:30 I was told he'd left for 
the day. Greg can be very clearly heard on the Mp3 at 
www.asburyradio.com for that segment of the meeting, but speaks very 
fast. If anyone has time to listen to the tape, perhaps they can 
clarify some of these points for us.
Thanks!
Maureen 




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[AsburyPark] Re: APPress Reports 5 Arrested Reputed Gang Members

[radio881gal]

Sharon -
I'm glad somebody read that report.
I'm happy for Mark Kinmon and the others, but 17, at least, gang 
affiliated thugs in the local area doesn't make me feel warm and 
fuzzy. And it's important to know that it wasn't just 5 reputed to be 
gang members. I don't know what the difference is between a member 
and an associate, but I bet the distinction wouldn't mean much to 
someone thinking of buying here.
I'm glad Milgram came to show support and I think Valentin is doing a 
much better job than his predecessor.
Get your point about the black faces. That's why so many people don't 
realize they harbor racist notions. The subliminal messages are 
everywhere. Racism is the norm. Let's get a look at some of the 
buyers. Aren't they equally as guilty?
Maybe I'll list those names when I get a minute to type them in.
Thanks again for checking the report, Shar,
Maureen
--- In AsburyPark@yahoogroups.com, "sharon_b283" <[EMAIL PROTECTED]> 
wrote:
>
> Maureen,
> I got confused also, when viewing the pictures, reading the article,
> then assessing:  What's wrong with this report?  First of all, the
> article tied gang activity in with drug running or so confusing, 
that
> I coudn't surmise what they were trying to get across to me, the
> reader!  I only saw about 15 photos, a mixing up of what was what 
and
> thinking that if I dodn't know better, it's the kind of propaganda
> that gets law athourities promoted!  Do a roundup, calla press
> conference, call it gangs/drugs/criminal/, show only the Black faces
> which appeal to your right winged "law and order" types, still 
doesn't
> address the real issue, how drugs "make it" into urban communities.
> 
> These "street" agents will be replaced with others and still doesn't
> address REAL issues!  All this does is paint a racial sterotype to
> drugs, drug running, gangs, but still doesn't address the "root" 
issue
> of the problem, itself!  I didn't buy it.
> 
> --- In AsburyPark@yahoogroups.com, "radio881gal"  
wrote:
> >
> > For those of you who have read my report on the major drug bust 
> > announced yesterday by State Attorney General Anne Milgram and 
County 
> > Prosecutor Luis Valentin, on AsburyRadio.com, you may be confused 
> > about the number arrested with gang affiliations versus the 
number 
> > of "reputed gang members" as reported on the Asbury Park Press 
web 
> > site today.
> > 
> > It took me three calls to the prosecutor's office today, but I 
got an 
> > answer - and I listened to the Mp3s again. First the Mp3s:
> > Attorney General Milgram, who spoke first, said "Twenty-two of 
the 
> > individuals arrested today have gang affiliations." Prosecutor 
> > Valentin, referred to "approximately 20 gang members and a 
> > significant number of fugitives", among the 50 arrested. 
> > As for checking with the source, the Prosecutor's Office:
> > We've been told to rely on the press release, which identifies 
five 
> > of those arrested as "members" of mainly the Bloods street gang, 
and 
> > an additional 12 individually identified as "an associate" of a 
gang
> > (s). The source we spoke with referred us to the internet for the 
> > distinction between the two. 
> > 
> > For now, we are satisfied to say that there were a total of 17 
> > individuals, among the 50 arrested, with street gang 
affiliations. Of 
> > course that would imply that both the attorney general and the 
county 
> > prosecutor misspoke.
> > This is vitally important to our community. Thanks for reading my 
> > report.
> > Maureen
> >
>





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[AsburyPark] 85% of Violence Crime Centered in 14 NJ Cities

[radio881gal]

In addressing drug violence and "open air drug markets" at yesterday's 
press conference, State Attorney General Anne Milgram said law 
enforcement tracking analysis shows that 85% of violent crime is 
concentrated in just 14 New Jersey towns. Asbury Park is 1 of the 14.
  The good news is that Milgram called AP's police department's recent 
gains against crime as "nothing short of tremendous." The murder rate 
is down 67%, Robbery is down 20% and Robbery with a deadly weapon is 
down 45 percent. Milgram singled out Chief Mark Kinmon in particular 
for praise.
You can hear all of Milgram's and Prosecutor Luis Valentin's exact 
words on Mp3 at asburyradio.com.
Maureen





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[AsburyPark] APPress Reports 5 Arrested Reputed Gang Members

[radio881gal]

For those of you who have read my report on the major drug bust 
announced yesterday by State Attorney General Anne Milgram and County 
Prosecutor Luis Valentin, on AsburyRadio.com, you may be confused 
about the number arrested with gang affiliations versus the number 
of "reputed gang members" as reported on the Asbury Park Press web 
site today.

It took me three calls to the prosecutor's office today, but I got an 
answer - and I listened to the Mp3s again. First the Mp3s:
Attorney General Milgram, who spoke first, said "Twenty-two of the 
individuals arrested today have gang affiliations." Prosecutor 
Valentin, referred to "approximately 20 gang members and a 
significant number of fugitives", among the 50 arrested. 
As for checking with the source, the Prosecutor's Office:
We've been told to rely on the press release, which identifies five 
of those arrested as "members" of mainly the Bloods street gang, and 
an additional 12 individually identified as "an associate" of a gang
(s). The source we spoke with referred us to the internet for the 
distinction between the two. 

For now, we are satisfied to say that there were a total of 17 
individuals, among the 50 arrested, with street gang affiliations. Of 
course that would imply that both the attorney general and the county 
prosecutor misspoke.
This is vitally important to our community. Thanks for reading my 
report.
Maureen







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[AsburyPark] Re: Value

[radio881gal]

What determines value?
A source once told me that the stock market is like attending a 
ballet. But the value isn't in what price you put on the performance, 
but what the majority of the audience thought of it. 
Share value dillution is another issue and a big problem. But a 
bigger one is the sophistication happening in the equity markets 
today, where huge blocks are trading, or crossing, without anyone 
knowing party A was trying to dump so many shares. They often trade 
in what are called dark pools. The process is meant to ultimately 
protect your retirement funds, for one example, from a drop in share 
price due to market impact. But now other sophisticated players -- 
Bloomberg for one -- have figured ways to mine these deep pools, for 
a price. So these customers will have information that the average 
investor doesn't have. It's another blow to the SEC's on-going 
efforts to keep the markets a level playing field for Joe Six-Pack, 
if you will.
Maureen 

--- In AsburyPark@yahoogroups.com, "oakdorf" <[EMAIL PROTECTED]> wrote:
>
> --- In AsburyPark@yahoogroups.com, "oakdorf"  wrote:
> >
> > What determines value?
> > 
> 
> another market problem..
> 
> a guy like me goes and makes some moves to buy some GE (General 
> Electric) for stability and now (as of this minute) a nice dividend 
> based on stock price. I buy it at what I think is a great value 
even 
> taking into account GE financing arm and god only knows.
> 
> Then, a few hours later, a guy named Warren Buffet must of heard 
that 
> I buy GE for all the right reasons, and he says shit, Dave must 
know 
> something. So he picks up the phone, calls Mrs. Buffet and gets her 
> ok to move $3 BILLION into GE, getting a 10% dividend and all kinds 
> of other goodies to protect, more or less his investment. Then GE 
> makes his deal even nicer, allowing Mr. B to get their new stock 
> offering(funny paper money a company is permitted to issue at will) 
> at quite a bit less then, say a guy like me got to buy. Even though 
> the news was public yesterday, the news news news didn't come til 
> today. 
> 
> Large companies have the ability to destroy the average stockholder 
> as will. They do this by issuing almost any form of collateral or 
> perceived collateral.
>





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[AsburyPark] Re: Why should the people bail out Wall Street?

[radio881gal]

Tommy -
I should hire you as my agent or at least forward your very kind 
posting to some of my editors!
Glad to help.
Listen, you know Wall St. worked very hard for years at making the 
processes there as opaque as possible - through escoteric jargon and 
a lot fierce gatekeepers. When you got someone to speak on the record 
they'd talk a mile a minute. I'll never forget the Merrill Lynch 
spokeswoman who had a fit, after one of these conference calls, when 
I said don't worry about my being accurate I just taped it all. She 
was furious!! Now why wouldn't they want you to be accurate? So they 
can dismiss the whole story when you get something wrong?
Part of the reason why they went to these hugely complex instruments 
was because market reforms had removed so many veils that the markets 
were becoming transparent - perish the thought.
Maureen 

--- In AsburyPark@yahoogroups.com, "justifiedright" 
<[EMAIL PROTECTED]> wrote:
>
> Mo,
> 
> I did read the post that Frank made for you.  
> 
> I wasn't even aware of the issue until you posted it.  Thanks for 
> doing so - it's an interesting insight.
> 
> For those of you who don't know, this business stuff is Marueen 
> Nevin's area of journalistic expertise.
> 
> That's why I asked her the questions.
> 
> We're futunate to have folks like her on this board with expertise 
> in such an important current event  (wish she was back on the 
radio).
> 
> 
> 
> 
> --- In AsburyPark@yahoogroups.com, "radio881gal"  
> wrote:
> >
> > To my knowledge these are actual trades that are reported in 
these 
> > indices, not assigned values based on aspects of the assets or 
> what 
> > an insurer would give you in an accident.
> > These indices are a recent benefit to the market, since OTC 
> products 
> > have typically lacked transparency for this as well as other 
> reasons. 
> > Did you read the open letter from the auditors that Frank posted 
> for 
> > me yesterday?
> > Maureen
> > 
> > --- In AsburyPark@yahoogroups.com, "justifiedright" 
> >  wrote:
> > >
> > > Are creditex and markit reliable?  Do people routinely take 
> issue 
> > > with their amounts (like I do with blue book on cars?)
> > > 
> > > 
> > > 
> > > --- In AsburyPark@yahoogroups.com, "radio881gal" 
 
> > > wrote:
> > > >
> > > > Tommy -
> > > > Not sure if here you're referring to my post about the Wall 
> St. 
> > > > bailout.
> > > > If you are, I'd want to say that there are indexes by 
Creditex 
> > and 
> > > > Markit,  which contain traded prices on Credit Default Swaps 
> > (CDS) 
> > > > and Collaterolized Debt Obligations (CDOs). Paulson doesn't 
> want 
> > > > taxpayers paying the low prices the professional traders are 
> > > > currently paying for these. He's already said he wants 
> taxpayers 
> > > to 
> > > > buy these assets at future maturity rates. Wasn't that what 
> > Asbury 
> > > > Park residents wanted and didn't get in the redevelopment and 
> > > rehab 
> > > > zones? 
> > > > Maureen
> > > > 
> > > > --- In AsburyPark@yahoogroups.com, "justifiedright" 
> > > >  wrote:
> > > > >
> > > > > How do you use Mark to Market accounting when dealing with 
> an 
> > > asset 
> > > > > that is not widely traded?  You have no data upon which to 
> set 
> > a 
> > > > > value.
> > > > > 
> > > > > Also, when a firm goes under and is selling off their 
assets 
> at 
> > > a 
> > > > > fire sale, is it fair to use those sale numbers when 
someone 
> > > else 
> > > > is 
> > > > > valuing an asset under Mark to Market?
> > > > > 
> > > > > Maybe the realty experts on the board can opine.
> > > > > 
> > > > > If only we had someone on the board who regularly dealt 
with 
> > > burden 
> > > > > of valuing unique property?  :-)
> > > > > 
> > > > > 
> > > > > 
> > > > > 
> > > > > 
> > > > > 
> > > > > 
> > > > > --- In AsburyPark@yahoogroups.com, "asburycheech" 
> > >  
> > > > > wrote:
> > > > > >
> > > > > > Hi Folks,
> > > > > >Maureen Nevi

[AsburyPark] Re: Why should the people bail out Wall Street?

[radio881gal]

To my knowledge these are actual trades that are reported in these 
indices, not assigned values based on aspects of the assets or what 
an insurer would give you in an accident.
These indices are a recent benefit to the market, since OTC products 
have typically lacked transparency for this as well as other reasons. 
Did you read the open letter from the auditors that Frank posted for 
me yesterday?
Maureen

--- In AsburyPark@yahoogroups.com, "justifiedright" 
<[EMAIL PROTECTED]> wrote:
>
> Are creditex and markit reliable?  Do people routinely take issue 
> with their amounts (like I do with blue book on cars?)
> 
> 
> 
> --- In AsburyPark@yahoogroups.com, "radio881gal"  
> wrote:
> >
> > Tommy -
> > Not sure if here you're referring to my post about the Wall St. 
> > bailout.
> > If you are, I'd want to say that there are indexes by Creditex 
and 
> > Markit,  which contain traded prices on Credit Default Swaps 
(CDS) 
> > and Collaterolized Debt Obligations (CDOs). Paulson doesn't want 
> > taxpayers paying the low prices the professional traders are 
> > currently paying for these. He's already said he wants taxpayers 
> to 
> > buy these assets at future maturity rates. Wasn't that what 
Asbury 
> > Park residents wanted and didn't get in the redevelopment and 
> rehab 
> > zones? 
> > Maureen
> > 
> > --- In AsburyPark@yahoogroups.com, "justifiedright" 
> >  wrote:
> > >
> > > How do you use Mark to Market accounting when dealing with an 
> asset 
> > > that is not widely traded?  You have no data upon which to set 
a 
> > > value.
> > > 
> > > Also, when a firm goes under and is selling off their assets at 
> a 
> > > fire sale, is it fair to use those sale numbers when someone 
> else 
> > is 
> > > valuing an asset under Mark to Market?
> > > 
> > > Maybe the realty experts on the board can opine.
> > > 
> > > If only we had someone on the board who regularly dealt with 
> burden 
> > > of valuing unique property?  :-)
> > > 
> > > 
> > > 
> > > 
> > > 
> > > 
> > > 
> > > --- In AsburyPark@yahoogroups.com, "asburycheech" 
>  
> > > wrote:
> > > >
> > > > Hi Folks,
> > > >Maureen Nevin who is a member of this group is having an 
> issue 
> > > with
> > > > her internet connection, so she asked me to pass along the 
> > > following.
> > > >  She has a lot of good information on her asburyradio.com 
> > website, 
> > > but
> > > > hoped those interested might like to read the following as 
> well:
> > > > 
> > > > -- Forwarded message --
> > > > From: Jay Hyde 
> > > > Date: Tue, Sep 30, 2008 at 3:12 PM
> > > > Subject: CAQ Urges Congress to Reject Proposals to Suspend
> > > > Mark-to-Market (Fair Value) Accounting
> > > > To: maureen@
> > > > 
> > > > 
> > > > September 30, 2008
> > > > 
> > > > Dear Member of Congress:
> > > > 
> > > >  The Center for Audit Quality (CAQ) believes that proposals 
> > > advocating
> > > > suspension of mark-to-market (or fair value) accounting are 
> not 
> > in 
> > > the
> > > > best interest of investors or the capital markets and should 
> be 
> > > rejected. 
> > > > 
> > > >  The principles of mark-to-market accounting are rooted in the
> > > > fundamental virtue of transparency and are central to 
informed 
> > > market
> > > > decisions and efficient allocation of capital. In our view, 
> > > investor
> > > > confidence would be undermined by efforts designed to mask 
the 
> > > actual
> > > > value of financial assets at a given point in time.  
> > > > 
> > > >  It is important to underscore that mark-to-market accounting 
> has
> > > > contributed positively to revelations about the severity of 
the
> > > > economic crisis facing our country's credit markets and 
certain
> > > > institutions, but it did not create the economic crisis. 
> > > > 
> > > >  Recently, some have suggested that the Securities and 
Exchange
> > > > Commission (Commission or SEC) or the Financial Accounting 
> > > Standards
> > > > Board (FASB) should suspend the application of mark-to

[AsburyPark] Re: 50 Drug Arrests Bring State Atty Gen'l, County Prosecutor, County Sheriff to AP

[radio881gal]

Hi Denise -
This press conference was held at 10 AM this morning.
I was sitting next to Michelle Sahn from the Asbury Park Press, so I 
doubt it could've been in the Press before this. And, I haven't seen 
the report on Channel 12 yet, although its crew was there, too.
The arrests began on Sept 26 and ended this morning (Oct.2).
Sound from my interviews with Sheriff Guadagno and Chief Kinmon are 
up there now.
I'm working on the sound from the podium now, which was very soft.
I hope you'll check the report on AsburyRadio.com and leave your 
comments.
All best,
Maureen


--- In AsburyPark@yahoogroups.com, denise <[EMAIL PROTECTED]> wrote:
>
> Maureen was this in the paper? 
> 
> 
> 
> ----- Original Message 
> From: radio881gal <[EMAIL PROTECTED]>
> To: AsburyPark@yahoogroups.com
> Sent: Thursday, October 2, 2008 12:04:57 PM
> Subject: [AsburyPark] 50 Drug Arrests Bring State Atty Gen'l, 
County Prosecutor, County Sheriff to AP
> 
> 
> 22 of those arrested today are Gang Members, say law enforcement. 
See 
> report with photo and sound on AsburyRadio. com
> A cold kept me away from last night's council meeting. Sorry!!
> Maureen
> 
>  
> 
> 
>   
> 
> [Non-text portions of this message have been removed]
>





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[AsburyPark] Re: Why should the people bail out Wall Street?

[radio881gal]

Tommy -
Not sure if here you're referring to my post about the Wall St. 
bailout.
If you are, I'd want to say that there are indexes by Creditex and 
Markit,  which contain traded prices on Credit Default Swaps (CDS) 
and Collaterolized Debt Obligations (CDOs). Paulson doesn't want 
taxpayers paying the low prices the professional traders are 
currently paying for these. He's already said he wants taxpayers to 
buy these assets at future maturity rates. Wasn't that what Asbury 
Park residents wanted and didn't get in the redevelopment and rehab 
zones? 
Maureen

--- In AsburyPark@yahoogroups.com, "justifiedright" 
<[EMAIL PROTECTED]> wrote:
>
> How do you use Mark to Market accounting when dealing with an asset 
> that is not widely traded?  You have no data upon which to set a 
> value.
> 
> Also, when a firm goes under and is selling off their assets at a 
> fire sale, is it fair to use those sale numbers when someone else 
is 
> valuing an asset under Mark to Market?
> 
> Maybe the realty experts on the board can opine.
> 
> If only we had someone on the board who regularly dealt with burden 
> of valuing unique property?  :-)
> 
> 
> 
> 
> 
> 
> 
> --- In AsburyPark@yahoogroups.com, "asburycheech"  
> wrote:
> >
> > Hi Folks,
> >Maureen Nevin who is a member of this group is having an issue 
> with
> > her internet connection, so she asked me to pass along the 
> following.
> >  She has a lot of good information on her asburyradio.com 
website, 
> but
> > hoped those interested might like to read the following as well:
> > 
> > -- Forwarded message --
> > From: Jay Hyde 
> > Date: Tue, Sep 30, 2008 at 3:12 PM
> > Subject: CAQ Urges Congress to Reject Proposals to Suspend
> > Mark-to-Market (Fair Value) Accounting
> > To: maureen@
> > 
> > 
> > September 30, 2008
> > 
> > Dear Member of Congress:
> > 
> >  The Center for Audit Quality (CAQ) believes that proposals 
> advocating
> > suspension of mark-to-market (or fair value) accounting are not 
in 
> the
> > best interest of investors or the capital markets and should be 
> rejected. 
> > 
> >  The principles of mark-to-market accounting are rooted in the
> > fundamental virtue of transparency and are central to informed 
> market
> > decisions and efficient allocation of capital. In our view, 
> investor
> > confidence would be undermined by efforts designed to mask the 
> actual
> > value of financial assets at a given point in time.  
> > 
> >  It is important to underscore that mark-to-market accounting has
> > contributed positively to revelations about the severity of the
> > economic crisis facing our country's credit markets and certain
> > institutions, but it did not create the economic crisis. 
> > 
> >  Recently, some have suggested that the Securities and Exchange
> > Commission (Commission or SEC) or the Financial Accounting 
> Standards
> > Board (FASB) should suspend the application of mark-to-market or 
> fair
> > value accounting or somehow impose a moratorium on mark-to-market
> > requirements for certain financial institutions when preparing
> > financial statements to be used by investors. 
> > 
> >  Although determining fair values for financial instruments in an
> > illiquid market can be challenging, the best estimate of the 
prices
> > that would be received for such instruments in orderly 
transactions
> > occurring at the measurement date remains the most relevant
> > information for investors and policymakers. To lessen the
> > uncertainties about the value of these securities, it is critical 
> that
> > investors continue to have the insight provided by the 
application 
> of
> > mark-to-market accounting principles. 
> > 
> >  Many of the current requirements stem from the Savings & Loan 
> crisis
> > in the 1980s, when we learned that not knowing the real, current
> > values of financial instruments held by financial institutions 
can 
> be
> > devastating when the bubble finally bursts and institutions are 
> forced
> > to close their doors. The current requirements provide a uniform 
> and
> > consistent method to measure market values and provide investors
> > increased disclosures about those measurements. Suspending
> > mark-to-market accounting would throw financial reporting back to 
a
> > time of less comparability, less consistency and less 
transparency.
> > 
> >  If there are concerns with the impact of asset valuations on 
> capital
> > requirements of financial institutions, regulators have 
> alternatives
> > other than obscuring information relevant to investors. 
Regulators 
> may
> > modify those requirements based on criteria other than fair value
> > accounting measurements to the extent they deem appropriate.
> > 
> >  Other capital markets participants also have expressed concern 
> about
> > the lack of transparency that would be created by a suspension of
> > mark-to-market accounting. The Council of Institutional Investors,
> > which represents 130 public, corporate and unio

[AsburyPark] 50 Drug Arrests Bring State Atty Gen'l, County Prosecutor, County Sheriff to AP

[radio881gal]

22 of those arrested today are Gang Members, say law enforcement. See 
report with photo and sound on AsburyRadio.com
A cold kept me away from last night's council meeting. Sorry!!
Maureen




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[AsburyPark] Why Wall St. Will Feel Right Next Door - Disinformation on Wall St. Meltdown

[radio881gal]

 
I just couldn't keep quiet anymore, watching the newscasters 
struggle with the Wall St. meltdown, which yes is relevant to Asbury 
Park and any community that has to borrow money. So here it is.

OKay, I'm no financial genius, but...

I've been interviewing quants - rocket science level financial 
geniuses - for years now about how they create the complex 
securities that have enriched a generation of Wall St. elites. And 
I've always wondered how anyone could predict what the chain 
reaction of a collapse of this hugely complex, global market would 
look like? Ironically, a lot of these instruments are bought to 
reduce the risk of other investments failing. In credit derivatives, 
they may start with a simple credit situation - like a mortgage - a 
buyer and debt holder. But the investments that are sliced and 
diced, reshuffled and morphed into new complex instruments would be 
impossible to identify from the original source.

It's like some older people I've met who are taking 18 meds a day. 
What doctor can really monitor the interactions of all those complex 
compounds on a living changing entity. Not a bad analogy really. 
(Alot of people are going to have more trouble paying for those 
meds.)

Now for what drove me to post this on an otherwise Asbury Park 
focused site:
The current administration keeps refering to the mortgage industry 
as having caused this Wall St. collapse. But the institutions that 
offer mortgages - so far - have not been the ones to fall. Yes, WaMu 
and a few other mortgage lenders are on the brink. But commercial 
banks are doing fine. Sovereign Bank, certainly Bank of America! 
aren't in trouble. It's the investment banks that deal in those 
structured products that are being bailed out or forced into 
marriage.
There's more and I'd like to know what you think. It's at 
www.asburyradio.com
Thanks for reading...
Maureen
 





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[AsburyPark] Re: PodCasts and Reports on 9/17/08 Council Meeting

[radio881gal]

Hi Sandpiper -
The boardwalk, which was not replaced when the boardwalk south of 
7th Ave was replaced for these reasons, will be ripped out. Visitors 
and seniors, residents, will have to traverse the nature walk. This 
will not be easy for anyone with balance issues, since the sand 
under the boards will probably be shifting with weather influences. 
Also seniors using walkers or wheelchairs will probably have a 
challenge. Despite the 26-story Tower dedicated to 62 and over 
housing, these seniors have been and continue to be marginalized. A 
few tea dances and oldies shows and the council ensures 400+ votes 
every year. 
Meanwhile, many residents of Asbury Tower love their boardwalk and 
miss their senior center, closed down shortly after Asbury Partners 
bought its site, the First Ave. pavilion. Why? Were they going to 
allow seniors to have waterfront views? I think the answer speaks 
for itself in the boardwalk caper unfolding now.
As for the 80 feet, please listen to Roger Krause in the public 
portion. You are right. Why else would they need the DEP to grant 
variances to allow them to encroach onto Green Acres space?
Hey, thanks for reading the blog! 
Maureen 

 In AsburyPark@yahoogroups.com, "sandpiper15" <[EMAIL PROTECTED]> 
wrote:
>
> --- In AsburyPark@yahoogroups.com, "radio881gal"  
> wrote:
> >
> > Hi Sandpiper -
> > That's not a boardwalk.
> > It's the dune nature walk that will lie in the sand, unless that 
> design 
> > has been changed. I came in late. But my last info was that it 
> would 
> > lie in the sand and of course help to obscure the public from 
the 
> > townhouse residents. 
> 
> Thanks. I only called it a boardwalk because that's what it is 
> labeled in that rendering on your site.
> 
> But now I am wondering what happened to the actual boardwalk. That 
> rendering makes it seem like the townhouses will abut the dunes. 
I'm 
> looking at a Google satellite map of the neighborhood now and the 
> boardwalk runs straight until the end that is parallel to Deal 
Lake 
> Drive. There's about 80 feet or so of green space between Ocean 
> Avenue and the boardwalk. Are they squeezing these townhouses into 
> that 80 foot green space? Or are they just getting rid of the 
> boardwalk completely?
> 
> (Thanks again for posting these meetings. They're very 
enlightening.)
>





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[AsburyPark] Height of Townhouses

[radio881gal]

I added this to the blog, but that and the other changes for some are 
not appearing: The 15 townhouses stand about 4-stories high: there's a 
pile support level, then the first floor, second floor and what looks 
like an attic or dorm type level.
The pile support level is a good idea since the Village of Loch Arbour, 
a few years ago, studied the area and found the area of Asbury Tower 
and east to the triangle, future home of a condo tower, are in a zone 
that would flood in a Category 1 storm.
Other changes: Debby DeLisa, with apologies to Deb. Doug De Wysocki, an 
AP firefighter and union leader at the state level, also spoke for the 
Safer Grant. 
Hope these changes appear soon.
Maureen




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[AsburyPark] Re: PodCasts and Reports on 9/17/08 Council Meeting

[radio881gal]

Hi Sandpiper -
That's not a boardwalk.
It's the dune nature walk that will lie in the sand, unless that design 
has been changed. I came in late. But my last info was that it would 
lie in the sand and of course help to obscure the public from the 
townhouse residents. 
One change I can see is that the nature walk seems to be east of the 
dunes instead of lying between the dunes, as it was previously drawn. 
This would be an improvement since the earlier design meant people on 
the walk would see only sand for most of it, not the ocean. So this is 
an improvement in that respect. Of course it also takes the public even 
farther away from the residents.
The item was not on the agenda for the regular meeting, by the way. 
I don't even understand how they were able to move an item forward when 
it wasn't on the agenda. I've seen so many things postponed to the next 
meeting, because they hadn't been put it on the agenda.
Perhaps Jim Keady or Ed Johnson can enlighten us on this?   

--- In AsburyPark@yahoogroups.com, "sandpiper15" <[EMAIL PROTECTED]> 
wrote:
>
> Kerry Butch pretty much nails it at 20:58 of tape 9. 
> 
> Question: Why is the boardwalk in front of Asbury Tower curved in 
that 
> rendering?
>





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[AsburyPark] PodCasts and Reports on 9/17/08 Council Meeting

[radio881gal]

Good Morning -
I just got the last mp3 from this week's council meeting posted up on 
www.Asburyradio.com and the clock says 1:15 AM. But that's because 
tonight was the Deal Lake Commission's meeting. Very important stuff. 
Anyone interested in seeing Deal Lake cleaned up can do several 
things:
   Strongly urge AP to pay its dues of now $16,690 - for 2007 and 
2008 - which goes to projects that clean up the lake. 
Attend the Oct. 16th meeting, held in the new city hall building 
for Allenhurst, located in the new building next to the Allenhurst 
Cleaners. This meeting includes an informative 20 min. film about the 
commission and its goals and accomplishments.
Join the Friends of Deal Lake, which meets  in the Interlaken 
administration building on Grasmere.
 Participate in the first annual Deal Lake Ragatta, Sept. 27th, 
by hosting or attending a party by the lake. Donations will be 
accepted at these parties to go to fund the committee. 
www.friendsofdeallake.com
Hope you enjoy the sound files of the meeting. I found a really 
good program - mp3 Gain - which moderates most of the volume levels 
and smooths them out. Great product!
All best,
Maureen
Speak up - It's America!




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[AsburyPark] Re: Asbury Radio: Parking Dominates AP 9/3/08 Council Meeting

[radio881gal]

Thanks, Mario, for posting this so that people will know the council 
meeting PodCasts are up there on asburyradio.com!! I
 actually posted them Thursday night.
I can't believe I'm only just getting around to posting a notice 
here. For anyone who hasn't been there yet, I've recorded the 
meeting in 9 mp3s and included more explanation than I had for the 
last meeting's write up. If you hear background noise, it's me 
trying to get to the other side of the room with the mic so you can 
hear people's responses. Please feel free to leave comments. This is 
a work in progress.
 Here's just the highlights:
Highlights

Bond Ordinance for Funding Citywide Revaluation


Save Tilly's Bob Crane Claims Asbury Partners is Neglecting 'Tilly' 
Artifacts -Crane Confronts Larry Fishman Head On


Councilmember James Keady Lone No Vote as City Budget Adopted 


City Property Tax Rises - $150,000 assessed home will pay $170 more


--- In AsburyPark@yahoogroups.com, [EMAIL PROTECTED] wrote:
>
> _Asbury  Radio: Parking Dominates AP 9/3/08 Council Meeting_ 
> (http://asburyradio.blogspot.com/2008/09/parking-dominates-ap-9308-
council.html)  
>  
>  
> Thanks Maureen
> 
> 
> 
> **It's only a deal if it's where you want to go. Find 
your travel 
> deal here.  
> (http://information.travel.aol.com/deals?ncid=aoltrv000547)
> 
> 
> [Non-text portions of this message have been removed]
>





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[AsburyPark] Re: Obama Party in AP....Initial Post?

[radio881gal]

Can't find the origin of this post - the first post. Can someone 
stear me to it?
Thanks,
Maureen

--- In AsburyPark@yahoogroups.com, Jersey Shore John 
<[EMAIL PROTECTED]> wrote:
>
> He could be "The Guy Next Door". Literally. He own so many homes, 
you  
> never know.
> 
> On Sep 1, 2008, at 7:08 AM, sharon_b283 wrote:
> 
> > Did you make that up, or is it a personal opinion? Your man 
doesn't
> > know how many homes he owns, never shops in a supermarket, wants 
to
> > LOOK like Mr. Ordinary, when his wife wears $3000 dollar suits 
and
> > looks like a mannequin, right out of TV! Not bad, when you're 
already
> > rich and have a rich trophy wife! I call her Mrs. Plastic!
> >
> > --- In AsburyPark@yahoogroups.com, Rock Musician  
wrote:
> > >
> > >   I got it! Lets vote for a man the Russians call Bambi! They 
really
> > want Bambi to be our next president. This man was never in the 
service
> > and Never ever salutes the Flag of the United States of America. 
Never
> > wears a flag pin on his lapel (like every other presidential
> > candidate. He wants to disarm our nuclear defense system, ban 
guns to
> > registered legal citizens, give our social security benefits to
> > illegal aliens, and pull out of Irag and Afganistan early.  Also 
has a
> > slight connection to Muslim religion through family.
> > >  Wow this sounds like the man I want. O' Bambi
> > >
> > >
> > >
> >
> >
> >
>





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[AsburyPark] Fire in Ocean Grove

[radio881gal]

My nephew in Bradley Beach drove over to OG to take a look. It's a low 
box-shaped building that's burning a hot orange tonight. It's at the 
north end of the boardwalk by the lake.
Can anyone get a view on it?
Maureen




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[AsburyPark] Re: DEP Equivocating on Oceanfront Parking

[radio881gal]

And...actually, Dan, I was talking recently to someone who's been with 
the fishing club since dinosaurs walked... and he doesn't even want 
their lot paved. Not a good thing for the environment, he says, quite 
rightly.

--- In AsburyPark@yahoogroups.com, "dfsavgny" <[EMAIL PROTECTED]> wrote:
>
> --- In AsburyPark@yahoogroups.com, "radio881gal"  
wrote:
> >
> > I finally got a call back from the Dept. of Environmental 
Protection on 
> > Friday. But instead of the information I'd requested -- are people 
> > parking on the Green Acres (or if you prefer buffer land by the 
ocean) 
> > with permission from DEP?
> 
> 
> A little confusing, since part of the CAFRA permit requires a
> fisherman's parking lot on the old Marine Grill site. It also
> considers the development of the Triangle (talk about economically
> sensitive) with a 6-8 story structure and townhouses in the vacated
> portions of the road bed abutting the beachfront.
>





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[AsburyPark] Re: DEP Equivocating on Oceanfront Parking

[radio881gal]

Thanks for the feedback, Sandpiper-
Yeah, this is not even my DEP let alone my dad's. 
Back in the 80s and 90s, the dept was on the same page with the 
taxpayers who want their environment protected. What happened?
   Mauriello and I went head to head back when the permit was first 
submitted. We were live on the radio asking him to comment about 
different aspects of the permit and he's making references like to 
Lake Avenue as Wesley Avenue. Can't recall the specific names he came 
up with for the streets and lake names he was supposed to be 
intimately familiar with, but it was enough to where I tried to climb 
through the phone. Basically, he's the rubber stamp that helped to 
make the permissive permit possible.
I wish other people would call the DEP and ask them to defend 
this abomination. 
Another question, where are residents on the ocean supposed to 
get flood insurance - or home owner's for that matter?
Best to all,
Maureen

-- In AsburyPark@yahoogroups.com, "sandpiper15" <[EMAIL PROTECTED]> 
wrote:
>
> 
> First of all, good for you for following up on this. I have a 
feeling
> the "bigger fish to fry" mindset makes people forget that AP is
> indeed on the Atlantic Ocean. This stuff matters big time.
> 
> Second of all...
> 
> >...However, Hershey made it clear that DEP did not acknowledge 
that a
> dune had been bulldozed. Ms. Hershey made a point of noting that 
crab
> grass had occupied that land before, not dune grass...<
> 
> Ummm...yeah, and people used to dump garbage right into the ocean
> back in the 1800s.
> 
> Are you freaking kidding me??
> 
> This woman actually said that with a straight face??? (Actually,
> she was on the phone. Maybe she was stifling laughter like a 3rd
> grader while she was saying that.)  Yeah, no kidding crab grass
> occupied the land before. That's the case in a lot of shore towns. 
So
> the hell what? At one point, enough people wised up to the fact that
> relying on crab grass to protect housing and commercial spaces from
> storm after storm wasn't working, so they constructed dunes.
> Get with the program Hershey!
> 
> >..But there's also nothing good about having car engine oil and
> other fluids dripping into the ocean either...<
> 
> No kidding - particularly at a time when AP's trying to rebrand
> itself as an oceanfront destination (i.e. place to go swimming)
> again.
> 
> >...(We 've never understood how the diehard fishermen justify
> destroying dunes to park their trucks while they fish and most 
likely
> grumble about the dirty water and poor catches.)...<
> 
> I can't even tell you how many times I've taken a party boat out of
> Belmar and seen the captain or first mate cut up a customer's 
tangled
> line and chuck it right into the water like it's no big deal. It was
> only my desire to get back to shore that kept me from socking the 
SOB
> right on the nose. Expecting fishermen to act in their best economic
> interests will never cease to bring disappointment.
> 
> >...When I asked who was authorized to discuss the city's CAFRA 
permit
> with the press, Ms. Hershey again asked for this officer's name. Ms.
> Hershey could not pin point the person in the DEP's press office
> knowledgeable enough to discuss this 5 year old plan...<
> 
> I'd start with DEP Assistant Commisioner Mark Mauriello at 609-292-
> 1932.
> 
> Beyond that, this shouldn't even be a DEP issue. If this is a "Green
> Acres" lot, doesn't that mean the state gave money to Asbury Park to
> acquire the land for permanent open space? It is still city-owned 
land,
> no?
> 
> I can't for the life of me find the city's municipal code online. 
But I
> have to believe - no wait - I would LIKE to believe that, much like
> every other oceanfront town with dunes, Asbury Park has a written 
and
> enforceable code governing tresspassing in these areas - like this 
one
>  00_A&request=dune%
20areas&fuzzy=&fuzziness=4&stemming=&phonic=&natlang=&\
> maxfiles=999>  or this one
>  43_A&request=dune%
20areas&fuzzy=&fuzziness=4&stemming=&phonic=&natlang=&\
> maxfiles=999> .   If yes, shouldn't there be a patrol car at the
> entrance to this "lot" with a friendly patrolman leaning against the
> side and letting everyone know, Texas Ranger style, in no uncertain
> terms, that tresspassing on that dune, be it on foot or wheel, is
> STRICTLY forbidden? Seriously, enough already with the Trenton
> bureacracy.  Those trucks need to go, like yesterday.
>





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[AsburyPark] Fire in Asbury

[radio881gal]

Can anybody see where the fire is?
I'm on Deal Lake Drive and can smell it.
The fire engines seem to be over near the Berkeley.
Anybody see anything?
Maureen




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[AsburyPark] DEP Equivocating on Oceanfront Parking

[radio881gal]

I finally got a call back from the Dept. of Environmental Protection on 
Friday. But instead of the information I'd requested -- are people 
parking on the Green Acres (or if you prefer buffer land by the ocean) 
with permission from DEP? And, what's your determination about the 
asphalt lots so close to Wesley Lake? - I got flaked, basically. It's 
something I might expect from Citibank's PR department, not our state 
agency. Well, I've got a report on my blog about it, plus a file of the 
DEP's preliminary concerns about the CAFRA application - remember that? 
Excellent reading, especially in retrospect.
Thanks for checking it out,
Maureen
PS - recorded a little of Lois Gibbs, the house wife from Love Canal 
who exposed the chemical contamination there, who spoke at Clearwater. 
Plan to post that Mp3 with photo later.




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[AsburyPark] Re: 1 ticket for Dylan 8/13

[radio881gal]

John -
I emailed you at this address.
I hope you got it.
And, that the ticket is still available.
If you look at my column on Dylan at www.asburyradio.com, you'll see 
why this is so important to me.
You can email me at [EMAIL PROTECTED]
Thanks,
Maureen

--- In AsburyPark@yahoogroups.com, "nobepeymay" <[EMAIL PROTECTED]> wrote:
>
> my e-mail address was blocked in my last post it is:
> 
> john(at)nationalfoodscorp(dot)com
>





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[AsburyPark] Re: Asbury Towers in Today's APP

[radio881gal]

In re-reading what you wrote, I think it still sounds like you're 
saying it's just business. The end result is they help seniors, so 
it's ok. Although I realize now that you didn't mean that.
   So I'm glad that you get the other reality, that they may be 
exploiting or abusing the nonprofit status. This outfit owns the Red 
Bank senior community - Navesink House - which was covered by WABC's 
Brian Williams to show the luxury available because his father was 
living there, someone whom one might assume could afford to live 
anywhere. PHS also owns Meadow Lakes, a sprawling community of lovely 
vistas dotted with low buildings and sporting a full formal dining 
room. And there are others in addition to the affordable communities.
   As for the tax break, I'm told municipalities have little if any 
control over these determinations, which are made at the federal and 
state level by agencies with significant political muscle. Hence, the 
letter Asbury Park's council referred to when passing the tax benefit 
by resolution, which reminded the city that they were due to receive 
a very large - $12 million -- in additional aid, while at the same 
time letting the city know the agency expected the tax package to be 
approved.
   One more thing about PHS, for whom I worked a year as Activities 
Director. Being a writer by trade, I immediately expanded the 
newsletter into a 15-page magazine of sorts, which contained reviews 
of all the activities the residents attended the previous month, 
complete with color photos, as well as articles about health issues 
and other topics of interest to them. They used to pour over it as 
soon as it came out of the copy machine. (It was ridiculous producing 
a 15 page newsletter on copying machines, but they wouldn't pay to 
have it done out of house. And, I had to fight with the other staff 
to get the time on the copier.)
   A few companies offered to advertise and/or subsidize the 
production of the newsletter, which could have meant a very healthy 
revenue flow for the seniors to use for extended trips, parties, and 
purchases. 
   However, I was discouraged by management from pursuing the ad 
model. Finally, I wrote directly to a retired HUD officer, who passed 
my letter and copy of the newsletter along to a current officer of 
HUD. I just asked if HUD had any rules prohibiting such a business 
model. Although that official's impression of the idea was totally 
favorable, as long as a paper trail and appropriate accounting were 
followed, he contacted Larry Gumina, pictured in the APP article with 
Susan Bruncati, even before calling me. Bruncati "wrote me up" for my 
trouble. They also at the same time wrote me up for posting the 
newsletter on my resume web page. The reason was that one portion of 
one page contained the work numbers and names of key employees. That 
gave management two write ups to hold over my head.
You have to ask yourself, why would a nonprofit, affordable 
housing organization reject a revenue stream?
Maureen   

--- In AsburyPark@yahoogroups.com, "oakdorf" <[EMAIL PROTECTED]> wrote:
>
> --- In AsburyPark@yahoogroups.com, "radio881gal"  
wrote:
> >
> > People also need to realize that this tax break was given for 42 
> > years vs the previous agreement of 20 years.
> 
> 
> Politics.
> 
> PHSSENIORLIVING.ORG
> 
> They provide a service to the seniors. They runa business that began
> under the "presbyterian homes" banner (lots of them in every state).
> 
> In addition to their "fund raising" through their foundation, you 
can
> assume that they and all other "non-profit" co's like PHS lobby 
pretty
> good.
> 
> That's why it looks like all their communities and others like it 
are
> able to issue tax exempt bonds to purchase or expand
> 
> In the long run, it helps out a group of people who need it.
> 
> And, as I said before, my grandmother was happier then hell from her
> 6th floor ocean front unit til she died around 1986. So shed had
> around 10 years there and walked the BW everyday.
> 
> PHS is a business. A unique business model.
>





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[AsburyPark] Re: Asbury Towers in Today's APP

[radio881gal]

Oak -
None of what you say has any bearing on what I said.
Yes, the seniors at the Tower are very happy. Yes they should stay 
there and have a beautiful place to live.
My point is that the management that owns and runs the building 
doesn't need our largesse.
Maureen

--- In AsburyPark@yahoogroups.com, "oakdorf" <[EMAIL PROTECTED]> wrote:
>
> --- In AsburyPark@yahoogroups.com, "radio881gal"  
wrote:
> >
> > People also need to realize that this tax break was given for 42 
> > years vs the previous agreement of 20 years.
> 
> 
> Politics.
> 
> PHSSENIORLIVING.ORG
> 
> They provide a service to the seniors. They runa business that began
> under the "presbyterian homes" banner (lots of them in every state).
> 
> In addition to their "fund raising" through their foundation, you 
can
> assume that they and all other "non-profit" co's like PHS lobby 
pretty
> good.
> 
> That's why it looks like all their communities and others like it 
are
> able to issue tax exempt bonds to purchase or expand
> 
> In the long run, it helps out a group of people who need it.
> 
> And, as I said before, my grandmother was happier then hell from her
> 6th floor ocean front unit til she died around 1986. So shed had
> around 10 years there and walked the BW everyday.
> 
> PHS is a business. A unique business model.
>





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[AsburyPark] Re: Asbury Towers in Today's APP

[radio881gal]

People also need to realize that this tax break was given for 42 
years vs the previous agreement of 20 years.
We really had a gun to our heads. Even deputy mayor Bruno said we had 
a letter from Trenton linking the money due us with the abatement for 
the Tower. The public needs to know that.
But to me the reality that doesn't seem well known is that PHS Senior 
Living has about 5 other communities that are very upscale and not 
affordable housing. You have to ask where did they get the extra dosh 
to buy these upmarket places.
Maureen  

--- In AsburyPark@yahoogroups.com, "oakdorf" <[EMAIL PROTECTED]> wrote:
>
> ,As part of the deal, the city agreed to reduce the PHS's tax 
> abatement obligation — money it pays the city in lieu of property 
> taxes — from 15 percent to 6.28 percent of Asbury Tower's annual 
> revenue, meaning RENTAL INCOME MINUS UTILITIES. In the short term, 
the 
> change will cost the cash-strapped city much needed revenue, 
perhaps as 
> much as $200,000 this year, because Asbury Tower isn't fully 
occupied 
> during its renovation. 
> 
> City officials have said the cut was necessary, however, to enable 
PHS 
> to make a long-term commitment to the facility and make the 
necessary 
> repairs.
> 
> >>>City officials have said the cut was necessary, however, to 
enable 
> PHS to make a long-term commitment to the facility and make the 
> necessary repairs.<<<
> 
> 
> At least the state kicked in more money to the city to cover the 
$200k 
> give backs.
>





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[AsburyPark] Re: Ocean Decides to Sue Weldon to Ward OFF Other Would-be Crooks

[radio881gal]

Sorry - that title should say to ..."Ward Off Other Would-be Crooks"
I shouldn't work until I've had my coffee.

--- In AsburyPark@yahoogroups.com, "radio881gal" <[EMAIL PROTECTED]> 
wrote:
>
> See today's Asbury Park Press: Ocean Twp has hired lawyer Stephen 
N. 
> Dratch, of Franzblau Dratch (could Cloris Leachman be far off), in 
> Livingston, to sue Weldon for the $64,000 he took from developers, 
plus 
> damages of $320,000. 
> Maybe this outfit can find out once and forall if Weldon took 
any 
> dough to create the sweetheart deal he made with Asbury Partners 
for 
> Asbury Park's waterfront, wherein they secured the entire 
waterfront 
> for under $5 million while holding onto the future commercial 
proceeds -
> - and charging back developers (who the Partners designate sub-
> developers)for its infrastructure expenses, a sum at times reaching 
> $100,000 a unit for its redevelopment rights, and up to 7 percent 
of 
> the sales price of every unit. Amazing that more subdevelopers 
aren't 
> beating a path and the existing ones can't seem to make any money, 
> isn't it?
>  According to the APP, Weldon, 59, is currently serving his 58-
> month sentence in the Federal Medical Center, in Lexington, 
Kentucky - 
> not the Texas prison he was initially sent to. 
>  A charismatic jokester, at least until his incarceration 
Weldon 
> was still seen merrily socializing with former city council member 
Kate 
> Mellina. Other council members have told Asbury Radio in the past 
that 
> they were completely shocked by his confession, yet believed that 
> Weldon hadn't taken any bribes for his critical role in Asbury 
Park's 
> multi-billion dollar waterfront redevelopment. However, they feared 
> that he may have laid the groundwork for future pay offs.
> Maureen
>





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[AsburyPark] Ocean Decides to Sue Weldon to Ward Other Would-be Crooks

[radio881gal]

See today's Asbury Park Press: Ocean Twp has hired lawyer Stephen N. 
Dratch, of Franzblau Dratch (could Cloris Leachman be far off), in 
Livingston, to sue Weldon for the $64,000 he took from developers, plus 
damages of $320,000. 
Maybe this outfit can find out once and forall if Weldon took any 
dough to create the sweetheart deal he made with Asbury Partners for 
Asbury Park's waterfront, wherein they secured the entire waterfront 
for under $5 million while holding onto the future commercial proceeds -
- and charging back developers (who the Partners designate sub-
developers)for its infrastructure expenses, a sum at times reaching 
$100,000 a unit for its redevelopment rights, and up to 7 percent of 
the sales price of every unit. Amazing that more subdevelopers aren't 
beating a path and the existing ones can't seem to make any money, 
isn't it?
 According to the APP, Weldon, 59, is currently serving his 58-
month sentence in the Federal Medical Center, in Lexington, Kentucky - 
not the Texas prison he was initially sent to. 
 A charismatic jokester, at least until his incarceration Weldon 
was still seen merrily socializing with former city council member Kate 
Mellina. Other council members have told Asbury Radio in the past that 
they were completely shocked by his confession, yet believed that 
Weldon hadn't taken any bribes for his critical role in Asbury Park's 
multi-billion dollar waterfront redevelopment. However, they feared 
that he may have laid the groundwork for future pay offs.
Maureen 




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[AsburyPark] Re: a change is gonna come

[radio881gal]

Where's the visuals?
Isn't this when a picture would speak volumes?
We have videos for everything else.
What is the dress code?

--- In AsburyPark@yahoogroups.com, Traderdube <[EMAIL PROTECTED]> wrote:
>
> *ASBURY PARK* — Police are investigating an incident in which a 
group of 
> black patrons, including a city firefighter and a downtown 
> businesswoman, were refused entry late Friday night at the popular 
new 
> Beach Bar owned by Madison Marquette at Convention Hall.
> 
> Police Chief Mark Kinmon said officers responded about midnight to 
a 
> disturbance outside the bar to find a group of people upset, some 
> yelling and screaming.
> 
> Kinmon said about five or six people were denied entry by the bar's 
> security, being told the Beach Bar has a dress code and that they 
were 
> not dressed appropriately. Kinmon said they were wearing jeans and 
> T-shirts with writing on them, and some wore baseball caps.
> 
> The group of people claimed they were not allowed in because they 
are 
> black, Kinmon said. "We're investigating reports of the incident 
being 
> biased-related and forwarding the case to the Monmouth County 
> Prosecutor's Office as a bias incident," Kinmon said. "They will 
review 
> it along with us. That's standard."
> 
> Police arrested the businesswoman, LaDonna Young, charging her with 
> disorderly conduct. The city firefighter was identified as David 
Weedon.
> 
> "Apparently a similar incident occurred on Saturday night, which 
we're 
> also looking into," Kinmon said. '
> 
> He said people were told the bar's dress code, which was why they 
could 
> not enter, takes effect after 11 p.m.
> 
> Madison Marquette officials said they are investigating.
> 
> "We're aware there was an incident and, of course, are concerned," 
said 
> marketing director Courtney Johnson. "We take such matters very 
> seriously and are looking into what took place."
> 
> "The investigation's under way, and we need to let the 
investigation 
> take its course," said City Manager Terence Reidy. "We take this 
very 
> seriously because it's critical that our beachfront and our 
boardwalk be 
> open to everyone in our city."
> 
> The Beach Bar, which, according to company literature, has a 
capacity of 
> 400 people on the south and east verandas of Convention Hall, is 
one of 
> many new venues Madison Marquette opened this summer to revitalize 
the 
> beachfront.
> 
> 001 ? 0033.02 -3
> 
> 
>   In your voice
> 
> 
>   Read reactions to this story
> 
> User Image 
> 
> *rjs07712* 
>  
> wrote:
> I'm white and I was turned away from the Beach Bar around midnight 
on 
> Friday. I think their dress code is stupid for an outdoor bar on 
the 
> beach, but I don't believe it was racist. Equally stupid is 
McLoone's 
> "Cover up your beach attire" dress code for lunch outside on the 
> boardwalk. Either way, I just moved onto a different place that 
seems to 
> understand that people wear casual clothes at the beach. Or maybe I 
> should put a suit & tie in my beach bag. (And by the way, my 
clothes fit 
> - I don't have jeans that are worn around the knee).
> 7/29/2008 8:59:31 AM
> I'm white and I was turned away from the Beach Bar around midnight 
on 
> Friday. I think their dress code is stupid for an outdoor bar on 
the 
> beach, but I don't believe it was racist. Equally stupid is 
McLoone's 
> "Cover up your beach attire" dress code for lunch outside on the 
> boardwalk. Either way, I just moved onto a different place that 
seems to 
> understand that people wear casual clothes at the beach. Or maybe I 
> should put a suit & tie in my beach bag. (And by the way, my 
clothes fit 
> - I don't have jeans that are worn around the knee). rjs07712
> Recommend   New post 
>   Reply to this Post 
>  
>   Report Abuse 
>  
> 
> 
> User Image 
> 
> *DarkCity* 
>  
> wrote:
> To all i was there that nite and yes there were white folks in the 
bar 
> with jeans and t-shirts with writing on it, Just to set the record 
> correct, we were told that we could not enter because we wore jeans 
and 
> one guy had on dockers and was denied because he did not have on a 
belt 
> and no his pants were not sagging, So while we stood to the side 
> peacefully and observed the security guards allow 3 white males 
entry 
> right in front of us with jeans and not only jeans but one had 
holes in 
> his jeans. So you tell me is that fair.
> 7/29/2008 8:56:13 AM
> To all i was there that nite and yes there were white

[AsburyPark] Re: Is it possible for the city to get a fair deal at this late stage?

[radio881gal]

You're so right Sharon.
That is exactly how we think when we think of NYC or Paris, etc. It's 
the Empire State Building, the Met, Lincoln Center, or the Louvre not 
how many residences there are, or gosh can I get a condo there? You 
go to see stuff and do stuff - and leave money behind. If these great 
cities have done their job right, on your way back you're already 
thinking about how soon you can return.
And, yes, the city does have opposing purposes to the rights holder 
and the redevelopers. That's why they're not supposed to be so damn 
cozy. Sure the mutual goal is to move forward, but the city has to 
keep the public good in the fore at all times. Just as the developers 
have to keep their bottom lines at the forefront of their concerns. 
There's nothing sinister here - just separate purposes. It has worked 
for years in journalism - we call it adversarial relationships. It's 
healthier for the public. The city is in an adversarial role with the 
developers. The city has to figure how many services -- especially 
safety services -- it can bring to residents for the tax revenue it's 
bringing in. And it has to do that without raising taxes.
Actually, I think the council is finally realizing all of this. You 
don't see them at many of the developer-related events. But it's way 
too late to get a fair deal for the city. It's pretty much whatever 
the developers decide to throw from the table.
Does anyone see where we have any leverage left?
I mean even if we ran 5 new people next year, what is there to pick 
up and run with?
Maureen 

--- In AsburyPark@yahoogroups.com, "sharon_b283" <[EMAIL PROTECTED]> 
wrote:
>
> ...And I agree with BOTH of you.  Why do people flock to Paris?  To
> see the Eiffel Tower, Notre Dame, Monmartre, the Champs Elysee, 
etc. 
> Just why DID people delight in Asbury Park, for decades?  The
> Amusements and the relaxing air, back when a stroll was considered
> exercise.  Women wore their bustles and sported beautiful hats and
> umbrellas and enjoyed majestic scenery, sipped tea, recalling 
another era.
> 
> When we think of New York, it's the Empire State Building, Broadway,
> 42nd St. and Grand Central Station, just to name a few.  Asbury 
Park,
> was once home to grand theatres, symphonic bands and churches, a
> really cultured place.  All gone!  People moving in want South 
Beach,
> public transportation, which is almost nil, here, save for the train
> station.  The nearest supermarkets are in Ocean Township and 
Neptune.  
> 
> I am for a Whole Foods that sell quality and organic foods.  I am 
for
> reviving the movie theatres, if this is to be a year round 
community.
>  I think that MM, Asbury Partners and even the former Carabetta
> enterprises, now defunct, after bankruptcy, had good motives, but
> their bottom line is profit!  I don't blame them, but our history 
and
> architedture have paid a heavy price in the name of "progress".
> 
> What about the West Side?
> 
> --- In AsburyPark@yahoogroups.com, "njshoregirlap"
>  wrote:
> >
> > --- In AsburyPark@yahoogroups.com, "wernerapnj"  
wrote:
> > >
> > > --- In AsburyPark@yahoogroups.com, "njshoregirlap"
> > >  wrote:
> > > 
> > > > Thanks for the support sandpiper! Just to clarify, I 
mentioned the
> > > > more urban examples of container shops to show contrast, 
which you
> > > > understood!  I read another post by a member who couldn't 
take a
> photo
> > > > next to Madame Marie's due to the godawful container smack up
> against
> > > > the side of Madam Marie's.  Let's respect what we have and 
give
> > > > careful consideration when adding "structures" to the 
streetscape!
> > > > A little architectural integrity PLEASE!!!
> > > >
> > > 
===
> > > 
> > > You're barking up the wrong tree, pissing in the wind, etc, etc
> > > 
> > > I've been at this for decades, Asbury Park is seriously 
dysfunctional
> > > and the simplest of obvious things are impossible.
> > > 
> > > Werner
> > >
> > Werner, I respect your experience, and perserverence in the face 
of
> > strong opposition.  I know quite well that I'm pissing in the 
wind,
> > but some things just stick out so blatantly that even a tired old
> > warrior like myself can't contain herself and has to put her 2 
cents
> > in.  I know I'm basically preaching to a small choir, but there 
are a
> > few newbies who may be converted.  I get irritated when I read 
all the
> > everything is wonderful posts, when some of these posters don't 
know
> > the history of the architecture of AP.  Sure, it is great that 
there
> > is foot traffic on the boards, and life is coming back to a dead
> > space.  But at what price.  Europeans value their architectural
> > history.  There were real opportunities for funding from the 
National
> > Trust for Historic Preservation, etc which could have played a 
large
> > role in preserving and restoring the remaining structures of old
> > Asbury grandeur, but it was not to be. 

[AsburyPark] Bennett Concert made $62, 436 for Boys & Girls Club

[radio881gal]

Please take a look at at www.asburyradio.com for more details on this. 
Also, What a Difference Three Days Makes on Kinglsey Ave. We're talkin' 
sidewalks cleaned up big time!
Thanks for checking it out!
Maureen





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[AsburyPark] Re: A/Cs other Storage on Bandshell

[radio881gal]

Sharon -
Didn't you have the hand surgery?
I didn't email you back, because you sent that email out.
How are you?
Maureen

--- In AsburyPark@yahoogroups.com, "sharon_b283" <[EMAIL PROTECTED]> 
wrote:
>
> You must mean City Council/City Fathers, as there are NO women on 
the
> Council, now.  What are we, "chopped liver"?  This group has been
> watch-dogging the City for years, not just day before yesterday!  
I've
> seen/read several old subjects from "newbies" crop up in the last 
few
> days, like yeah, right, been there, done that already, twice!  Sorry
> you missed the band shell comments, Maureen.  I could see the AC's
> from the driveway of the Empress, when Glenn was here, for the July
> 4th weekend.
> 
> I didn't appreciate seeing the Boardwalk and Beach being used as 
some
> sort of "exclusive" venue for ANY group!  The language was repulsive
> on the movie portion.  We're all adult here, so it wasn't anything I
> hadn't heard before, so I won't go "prude" on you.
> 
> Funny what you can get in this town, if you're a "favored" group! 
> Just an observation, so no "flames" please!
> 
> --- In AsburyPark@yahoogroups.com, "wernerapnj"  wrote:
> >
> > --- In AsburyPark@yahoogroups.com, "radio881gal"  
wrote:
> > >
> > > Glenn -
> > > I must've been asleep at the switch on this one. Saving the 
bandshell 
> > > was a major campaign by my co-host Maire Martello and I and 
later the 
> > > preservation committee of the AP Historical Society joined that 
> > > effort with a very successful postcard campaign. We submitted 
loads 
> > > of petition signatures to the city - Maire got her NY 
theatrical and 
> > > journalist friends to sign it. Sydney Zion and, I think, even 
Nat 
> > > Henthoff, of the Village Voice, signed it for crissake. 
Trombone 
> > > players from all over the country signed it.
> > >Because the city was eager for MM to get the pavilions done 
for 
> > > this summer, it finally yielded to allow a rehab of the lower 
level 
> > > of the 5th Av pavilion only. But it's clear that the upstairs - 
the 
> > > old HoJos -- was rehabbed. I suspected at the time that that 
maneuver 
> > > was meant to shove bandshell preservationists aside, which 
Fishman 
> > > and company had been trying to do for years. So this is the old 
> > > benign neglect play? If so, it would be truly foolish. It's a 
unique 
> > > destination venue - as Sandpiper noted. Motolla should 
recognize that 
> > > and get that equipment off the bandshell.
> > 
> > ==
> > 
> > No, The entire City is 'asleep at the switch' - Primarily the 
public
> > officials that are supposed to protect our interests and assure 
long
> > term benefits for future taxpayers.
> > 
> > The remodeling of that Pavilion is a major loss to the City in 
terms
> > of heritage and culture. Doesn't anyone recognize that the issue 
is
> > not just the Bandshell ??
> > 
> > The build was a cohesive integrated design statement from a rich 
time
> > in architectural history. It was real, authentic and was not 
plowed
> > down. Even identified in the PLAN as a Significant/Historic 
building.
> > 
> > Destroyed none-the-less by ignorant decisions and ignoring the
> > public's interests.
> > 
> > Werner
> >
>





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[AsburyPark] Re: A/Cs other Storage on Bandshell

[radio881gal]

Glenn -
I must've been asleep at the switch on this one. Saving the bandshell 
was a major campaign by my co-host Maire Martello and I and later the 
preservation committee of the AP Historical Society joined that 
effort with a very successful postcard campaign. We submitted loads 
of petition signatures to the city - Maire got her NY theatrical and 
journalist friends to sign it. Sydney Zion and, I think, even Nat 
Henthoff, of the Village Voice, signed it for crissake. Trombone 
players from all over the country signed it.
   Because the city was eager for MM to get the pavilions done for 
this summer, it finally yielded to allow a rehab of the lower level 
of the 5th Av pavilion only. But it's clear that the upstairs - the 
old HoJos -- was rehabbed. I suspected at the time that that maneuver 
was meant to shove bandshell preservationists aside, which Fishman 
and company had been trying to do for years. So this is the old 
benign neglect play? If so, it would be truly foolish. It's a unique 
destination venue - as Sandpiper noted. Motolla should recognize that 
and get that equipment off the bandshell.
Maureen
--- In AsburyPark@yahoogroups.com, "Jack Pitzer" <[EMAIL PROTECTED]> wrote:
>
> I'm wondering why this isn't more of an uproar about the current 
situation with the 
> bandshell.
> Glenn took a photo that clearly illustrates that heating and a/c 
units have been placed where 
> at the back of the area where the seats used to be located, as well 
as a huge A/C unit directly 
> next to the stage. There's no way a perfomance can go on with that 
A/C unit in place, which 
> raises the question about the future of the bandshell. The way I 
see it, we lost our bandshell.
> 
> --- In AsburyPark@yahoogroups.com, "sandpiper15"  
wrote:
> >
> > --- In AsburyPark@yahoogroups.com, "Tom"  wrote:
> >   
> > > We were attracted to producing HAIR in the Carousel building 
> > > because we knew the space would add to our unique vision.
> > 
> > Yet another reason to restore the Pryor bandshell. Imagine 
it...Hamlet 
> > at HoJo's!
> >
>





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[AsburyPark] Re: Parking Lots

[radio881gal]

Dave -
The city won't allow MM to open the parking lots until they conform 
with the city's directions for how the parking lots were to be done. 
This is on the site. It was mentioned at the last meeting, so you can 
listen to it on mp3 at asburyradio.com.
Maureen

--- In AsburyPark@yahoogroups.com, "oakdorf" <[EMAIL PROTECTED]> wrote:
>
> How come the lots weren't opened this weekend?
> 
> Tough to find parking - especially if you just wanted to run and get
> something on the BW.
> Almost had a spot yesterday in front of McCloones around 4:30 - one of
> those big black suvs with NY personalized plates and a london paris
> asbury sticker almost backed into me. 
> 
> It took me a few minutes to think want those letters stood for.
> 
> Somehow Dan must have a reserved spot.
>





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[AsburyPark] Re: A couple things before the day gets going....

[radio881gal]

Glenn -
I too missed the duck again.
How did this happen?
I think I would really bond with the duck if I could just get to meet 
him - or her. Does he resemble Howard the Duck at all?
Sorry we didn't hook up this time, Glenn.
Maureen
--- In AsburyPark@yahoogroups.com, "oakdorf" <[EMAIL PROTECTED]> wrote:
>
> --- In AsburyPark@yahoogroups.com, "dapawprint"  wrote:
> >
> > .  There was also a "Boardwalk Update" flyer 
> > available at those horrible white boxes with blue roofs (the info 
> > boxes) 
> 
> thanks, I didn't bother reading the flyers,
> 
> I missed the duck, again.
>





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[AsburyPark] Re: PARKING METERS.......read first sentence carefully

[radio881gal]

You can hear the whole council discussion on parking meter 
commencement at asburyradio.com.
Maureen

--- In AsburyPark@yahoogroups.com, [EMAIL PROTECTED] wrote:
>
>  
> ..when visitors to beachfront will begin paying for  
parking.does 
> that mean residents have free parking ?
> _Parking Meters Ready In City_ 
> (http://thecoaster.net/wordpress/2008/07/17/parking-meters-ready-in-
city/) 
>  
>  
> (http://thecoaster.net/wordpress/2008/07/17/parking-meters-ready-in-
city/3075/) By JOANNE L. PAPAIANNI
> The spaces have been  lined and numbered, the meters are in place 
and now it 
> is up to the City Council  to decide when visitors to the Asbury 
Park 
> beachfront will begin paying for  parking. 
> The council was expected to set a timetable for when the meters 
will start  
> being used at its meeting Parking Meters Wednesday night. 
> Councilman Ed Johnson said he wants the plan to be implemented in a 
smart  
> way.  
> “We want to make sure all the pieces are in place before 
beginning phase I,” 
>  he said. 
> “This is something new for Asbury Park, we haven’t had meters 
for over 20  
> years.” 
> The new meters will accept credit cards, debit cards, coins and 
bills, said  
> City Engineer Brian Grant. 
> Sixteen of the 32 meters, which cost $13,400 each, have been 
installed at the 
>  beachfront. The program is scheduled to begin there this year and 
eventually 
> be  extended to the downtown area, the transportation and city hall 
area and 
> Main  Street. 
> Grant said the city will be posting notices and putting up signage 
at each  
> meter, including instructions. 
> The meters can be replenish anywhere in town, allowing a driver to 
put money  
> in a meter at one end of the beach, walk to the other end, and 
recharge the  
> meter located there. 
> Grant said the machine will print out a receipt with a transaction 
number  
> that patrons can use to recharge the parking meter. 
> The meters were purchased through a co-op in Cranford, allowing the 
city to  
> purchase meters with more features, such as accepting bills and not 
only  
> coins. 
> “We wanted to offer customers as many pay options as possible,” 
he said. 
> Each meter can register up to 10,000 spaces. 
> Eventually, said Grant, there are plans to implement a Smart Card 
for Asbury  
> residents and those who work in the city. 
> Grant said city officials investigated the use of similar parking 
meters in  
> other towns including Cape May, Westfield and Pt. Pleasant where 
the meters  
> generated $1.6 million last year. 
> Regarding some criticism that the timing for beginning the plan is 
not right, 
>  Johnson said, “Now is the time to put the procedure in place to 
begin to 
> manage  our parking.” 
> Johnson said he expects glitches, but says they will learn as they 
go. He  
> pointed out that the meters are a way to raise revenues in ways 
other than  
> through property taxes. 
> “This is a user fee â€" we need to look at creative ways to raise 
revenues,” 
> he  said. 
> Johnson did not comment on when the meters will be online and  
operational. 
> “We still have some work we need to do.”
> 
> 
> 
> 
> **Get fantasy football with free live scoring. Sign up 
for 
> FanHouse Fantasy Football today.  
> (http://www.fanhouse.com/fantasyaffair?ncid=aolspr000520)
>





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[AsburyPark] Re: Maureen in the Coaster!

[radio881gal]

Glenn -
You're a mad man. But a demon piano player!!
Maureen

--- In AsburyPark@yahoogroups.com, "dapawprint" <[EMAIL PROTECTED]> wrote:
>
> Maureen, are you announcing your availability for the Vice 
Presidency?  
> You ARE a "...capable wome(a)n who is available for that 
> position." !!!
>





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[AsburyPark] PodCasts of Tonight's - make that last night's - council meeting

[radio881gal]

Please check them out at www.asburyradio.com, and leave your comments. 
Or send me an email at [EMAIL PROTECTED]
I recorded really most of the meeting this time.
There's mention of the revaluation coming, details on metered parking, 
Brick Wall decision...
Hope you like it!
Maureen




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[AsburyPark] Re: Deja Vu: Delayed Construction

[radio881gal]

That's right, Mario. We don't even have to revert to the legally 
adopted version of the plan. Whew, worked out for the citizens this 
time. Eat your hearts out, legal team...
Maureen 

--- In AsburyPark@yahoogroups.com, "Mario" <[EMAIL PROTECTED]> wrote:
>
> "It's deja vu all over again."  -- Yogi Berra   Inability to 
finance the
> project has delayed construction and is doing what critics who had
> complained about the tower's size could not: reduce its height by
> about a third. July 12, 2008  Developer Cuts Back on Plans for 
Tower
> to House Baseball's Cable Network  By CHARLES V. BAGLI
> 
 bagli/index.html?inline=nyt-per>
> A 21-story office building planned in East Harlem for Major League
> Baseball is shrinking.
> 
> The tower's developer, Vornado Realty Trust, had planned to begin
> construction in April on what would be the home for professional
> baseball's newly created cable network, which is scheduled to make
> its debut in January with 50 million subscribers.
> 
> But, according to real estate executives and city officials,
> Vornado's inability to finance the $435 million project, known as
> Harlem Park, has delayed construction and is doing what critics who 
had
> complained about the tower's size could not: reduce its height by
> about a third. That is in part because the developer seems to have 
had
> problems signing up other tenants for the building.
> 
> Vornado is now considering a revised plan for a 14-story building at
> 125th Street and Park Avenue and renegotiating its lease with Major
> League Baseball, the executives and officials said.
> 
> The developer did not return calls requesting comment, and 
officials at
> Major League Baseball said they were too busy organizing the 
festivities
> surrounding the All-Star Game to be held on Tuesday at Yankee 
Stadium to
> look at the newly proposed lease.
> 
> It is the latest example of the difficulty developers have had in 
trying
> to borrow money for projects amid the national debt crisis, even
> projects that only a few months ago seemed to be on the fast track. 
> More >>> http://tinyurl.com/6anq98 
>





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[AsburyPark] Re: NYT

[radio881gal]

Wait and see...
Must we always be in a passive, at the mercy of...mode?
What's the council's current position on performance bonds for 
revised building plans, new plans, old plans and boardwalk rehabs?
Unless the city starts conducting itself like the expensive 
business that it is, its citizens will continue to be blown about by 
every economic setback and political wind that comes along. 
 I've asked our redevelopment counsel this question and been told 
that private development doesn't require performance bonds. Well, if 
we're now defining the waterfront renewal as a private development, 
someone owes the city and state the dollars they gave out for 
public/private projects. Better not even go back there. Just draw up 
those performance contingencies now -- and make sure they contain 
provisions for when lots of land have to be developed and if 
development is not feasible by then, a reasonable substitute; i.e. 
park, etc. Having empty lots with ocean views isn't doing any of us 
any good.
 When we first started this century's waterfront plan, the 
government said timetables would be attached to all projects, with 
the property reverting to the city if they weren't met. What happened?
This isn't just a matter of aesthetics, we're losing ratables at an 
alarming rate. 
Maureen

--- In AsburyPark@yahoogroups.com, Allan Peterson <[EMAIL PROTECTED]> 
wrote:
>
> Sounds like their plan was doomed from the start.  84 
designs, "reaching for the stars" for the buyer demo, costly 
marketing , plus the high price to pay partners.  Not sure how they 
will do it, they have a ton of costs to make up and they can't build 
it too cheap.  Time will tell
> 
> 
> 
> - Original Message 
> From: dfsavgny <[EMAIL PROTECTED]>
> To: AsburyPark@yahoogroups.com
> Sent: Saturday, July 12, 2008 1:43:01 PM
> Subject: [AsburyPark] NYT
> 
> 
> July 13, 2008
> In the Region | New Jersey
> Deferred Hopes and Stalled Projects
> By ANTOINETTE MARTIN
> 
> WHEN word came last December that work had stopped at the Esperanza,
> the centerpiece of Asbury Park's long-awaited beachside 
redevelopment,
> even the project's name — "hope" in Spanish — seemed to mock the
> city's aspirations.
> 
> "I know a lot of people were very much stunned, and upset," said 
Dean
> Geibel, the principal of Metro Homes, the developer of the
> double-tower condominium, for which only the foundation has been
> completed.
> 
> The Esperanza was starting to rise on the site of a previous 
failure,
> where a steel skeleton had stood for two decades, menacing prospects
> for revitalization. "And we were sort of the first big project in 
New
> Jersey to take a hit when the financial market turned sour," Mr.
> Geibel said.
> 
> Since then, destructive market forces have slowed progress on other
> large projects around the state. Work has sputtered to a stop at two
> of them — the $1.5 billion Centuria development at the foot of the
> George Washington Bridge in Fort Lee, and the $66 million Town 
Center
> development in Somerville — before foundations have even been laid.
> 
> "These large projects are facing trouble," said Andrew J. Merin, a
> broker who is currently marketing the rights to build Centuria,
> "because financing is almost impossible today."
> 
> Mr. Merin, a vice chairman of Cushman & Wakefield who is based in 
East
> Rutherford, said banks had all but ceased making construction loans
> for projects costing more than $50 million. And investors are 
holding
> back, looking for the "rich returns" that mixed-use real estate
> projects do not currently guarantee.
> 
> Mr. Merin said a number of developers were bidding to develop some
> portion of Centuria. But Fort Lee officials have their hearts set 
on a
> redevelopment plan that requires one "master developer" to produce
> about 500 rental apartments, more than 150,000 square feet of retail
> space, an office building and a hotel.
> 
> The current developer, the Town and Country Corporation of 
Manhattan,
> bought the 16-acre Centuria site from the Helmsley Organization in
> 2003, and then laid out millions of dollars to clean up contaminated
> soil, Mr. Merin said. By the time the site preparation was finished,
> the financing situation had turned grim.
> 
> Also in 2003, Edgewood Properties bought its Somerville project 
site,
> a run-down strip mall that was to be demolished. The project, which
> envisions 272 apartments, retail shops and office space, became 
mired
> in delays because of a lawsuit brought by the Pathmark grocery 
chain,
> which operated a store in the strip mall. Now, the project is "on
> hold," until the market improves, according to the developer and 
city
> officials.
> 
> Meanwhile, in Asbury Park, Mr. Geibel is working feverishly on a
> scaled-down plan — and on securing reduced financing — with the goal
> of beginning work afresh by the end of the year.
> 
> This summer, city redevelopment officials worked out a new agreement
> with the builder, acknow

[AsburyPark] Re: Sound Recordings of the AP Council

[radio881gal]

Thanks very much for the encouragement, Sandpiper.
I hope to get better at it.
The responses would be ok if the speakers up front were using the 
microphones, which they're really required to do by law. When people 
respond off mic the comments don't get picked up in the recorded 
minutes either. This is a constant request of audience members, since 
the table where the city manager sits has one and sometimes two mics, 
but getting people to use them is pulling teeth. 
Thanks for the suggestions!
Maureen

-- In AsburyPark@yahoogroups.com, "sandpiper15" <[EMAIL PROTECTED]> 
wrote:
>
> --- In AsburyPark@yahoogroups.com, "radio881gal"  
> wrote:
> 
> >So please check it out and let me know what you think.
> 
> An excellent idea whose time came long ago. Good to see this 
happening. 
> As you acknowledged, the sound is a bit fuzzy in some spots, 
> particularly the official responses during the public comment 
period. 
> Is there a soundboard for the mics on both the public comment 
lecturn 
> and the council desk that you can plug into? If not, maybe some 
> audiophiles in town have a boom mic they can loan you. It's 
unfortunate 
> that you have to do this yourself when council meetings in many 
other 
> towns are broadcast on the local public access channel. But good 
for 
> you for taking the initiative. This will definitely help shed some 
> light on the operations of city government.
>





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