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Response to FarCenter (Reply #19)

Wed Feb 12, 2014, 11:28 AM

26. Steve Kornaki explained this one AM when he was covering this scoop.

 

The difference in "rehabilitation area" and "redevelopment area" is the amount of tax breaks you can claim when doing the renovations of the areas in question. She found it rather suspect that only the 3 or 4 blocks that were owned by The Rockefeller group was labelled for "redevelopment", while the other pieces were only found to be designated for rehabilitation... Also, that those pieces were being pushed by Sampson's Law firm group, while also coming from the Port Authority. It would make the Rockefeller land pieces much more valuable because of the special tax breaks that are approved by the study. It was one of the very things that took down the former Democratic Mayor previous to her becoming elected. AND it just so happened the Mayor was taken down by the sting operation Chris Christie wrangled throughout the state over a fake development scheme. So, the fact that she was getting pressure to approve the real estate deal, or not receive Sandy money is something that would make one think twice about what exactly was going on. AND that the entire 16/ 17 blocks that were part of the study had a different designation than just the blocks owned by just one group.

AND again, it wasn't that she wasn't for the project to happen. Development of land into more valuable real estate would mean more tax revenue for the city (thru property, sales, etc taxes); it was the pressure that she was getting from the Christie Admin that made her wary and upset because she was happy when he busted up the corruption around NJ, and she ran a campaign on ending corruption. AND initially, she had told them back when they first asked about the possibility of redeveloping this area, that she didn't have the money to do the study (which is about a 2- 3yr study in itself); so they got the study done with Port Authority money. She was a more than a bit surprised to see that only one group in particular was designated in a certain manner. It would clearly make one owner(s) more money than another. So, it felt like just another real estate scam. Since the revealing of this info, the Rockefeller Group has fired the Samson firm. They don't want any taint of this scandal on their name since they own quite a bit of real estate that they want to make money off of.

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malaise Feb 2014 OP
2pooped2pop Feb 2014 #1
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unionthug777 Feb 2014 #23
malaise Feb 2014 #11
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malaise Feb 2014 #12
Cha Feb 2014 #35
FarCenter Feb 2014 #9
Tom Rinaldo Feb 2014 #10
rocktivity Feb 2014 #15
libdem4life Feb 2014 #25
FarCenter Feb 2014 #16
Tom Rinaldo Feb 2014 #18
FarCenter Feb 2014 #19
LineLineLineLineLineLineReply Steve Kornaki explained this one AM when he was covering this scoop.
glowing Feb 2014 #26
rocktivity Feb 2014 #32
Laxman Feb 2014 #27
rocktivity Feb 2014 #31
malaise Feb 2014 #22
malaise Feb 2014 #13
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FarCenter Feb 2014 #17
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glowing Feb 2014 #28
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NJCher Feb 2014 #20
Cha Feb 2014 #36
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okaawhatever Feb 2014 #38
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indepat Feb 2014 #34
malaise Feb 2014 #39
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Cha Feb 2014 #37
Jefferson23 Feb 2014 #40
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