Tuesday, December 7, 2010

Major News: Tonight's Waterfront Mtg - Life Imitates Art

In the final scene of my two act comedy, "Ocean Mile", which ran last summer, the credit crisis descends, grinding redevelopment to a halt on the waterfront in Ocean Mile.
    The new hi-rise declares bankruptcy and the characters sit contemplating their collectively dim future in Rhoda's Deli.  Rock, the oft-blamed builder of the last failed redevelopment, sees light at the end of the tunnel. Maybe the economic meltdown will slow everything down. Maybe the council will rewrite the plan, taking a smaller more block by block approach to redevelopment, letting people develop their own properties, ending eminent domain so as to stop allowing the 'big developer' ("Sandman Brothers") to seize people's lots. We all went a little crazy, they admit, as they exit sobered but hopeful.
        Tonight we may get the chance to see this play out in real life when the City Council of Asbury Park is expected to consider a resolution declaring Asbury Partners (now controlled by iStar Financial) -- the Big Developer -- in default, according to Don Sammet, the City's Director of Redevelopment. Sammet tells Asbury Radio, "The council has been interested for some time in amending the plan to take property off the list, to let individual parcels be developed, and allow owners to development their own properties." 
    However, declaring iStar (Asbury Partners) in default may not be enough, Sammet cautions. It may also require having a court determine they are in default. Stay tuned...
    The Stage: Council Chambers corner of Main and Bangs, across from the Post Office
    Curtain at 5 PM
    Don't be late!!! 

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