--- In [email protected], "oakdorf" <[EMAIL PROTECTED]> wrote:
>
> My favorite thing to be chatty about, especially in AP.
...
(Good Financial Discussion)
...
> Things are happening and looking good.
>
I suspect that last line is sarcasm LOL
I'm going to interject an "I told you so".
By financial measures this redevelopment is a total failure for the City. I
will say again that
the purpose of redevelopment is NOT to make profits for developers. Although
that is
what its been transformed into through lack of public responsibility.
Had the City adopted a Preservation based plan as I advocated for, we would
have been
much farther along the path to success. The following ratables would be feeding
the City
financially. Creating jobs, tax revenue, tourism revenue, and mounds of great
PR.
- The Albion Hotel/Condos
- The Palace Amusements
- The Jersey Apartments/Condos
- The Casino Arena
- The Casino Carousel
- All The Pavilions
- The Lyric Theater
- The Virginia Apartments/Condos
- etc, etc.
If the plan had been based upon restoration and preservation as the FIRST
priority the City
would be a great success today instead of a work in progress hoping for Condo
sales.
A diversified, mix-use plan that maximized the identity and assets of Asbury
Park is what
we needed. Over reliance on Condos and generating profits for developers is
what we
have.
Werner
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