Sixteen story buildings and a 25-story condo/hotel building are among the items that could be in the new agreement among the City of Asbury Park, Madison Marquette LLC and iStar Financial. They are but one item in an 11-item list comprising Exhibit L, in the existing agreement drawn for Asbury Partners' partnership with Madison Marquette and the City.
#8 reads: "Clarification that office and real estate sales/leasing is a permitted use for the second floor of all Pavilions. [This would extinguish any hope of re-opening the Arthur Pryor outdoor concert bandshell on the second floor of the 5th Avenue Pavilion.]
#9 - Restaurant and night-club as an approved use for all ocean avenue (sic) retail
#10 - Observation tower on top of the Casino (if permitted by CAFRA)
CAFRA is the coastal land use act enforced by the NJ Department of Environmental Protection.
The new agreement may be passed tonight at the 5:15 PM meeting.