Tuesday, August 19, 2008

The South Wood Avenue Taxpayer Nightmare

Is what the “Transit Village” has turned into. On the nj.commie site, zeuss asks who will get the financial windfall? Only the lawyers who are lucky enough to do work for the County.

Further, it’s my understanding through another poster that the County/City lost its motion to terminate Verge.

Aside from the litigation and the failure to the UCIA to obtain ALL the properties it promised in its contract with Verge, it also appears that there are environmental issues that need remediation. Since money has been placed into an escrow for that purpose, it would seem that this is another contract dispute.

I can’t feel any sympathy for the Linwood. A lot of people know the REAL story behind that ... "things" just didn't work out as originally planned. From what I understand, everything is on "hold", including the Linwood issue, pending the outcome of the litigation which means the UCIA continues to breach the contract by not acquiring the properties the UCIA identified in the contract that would be part of the redevelopment project. One mess after another.

What can council do at this point? Linden is stuck in the middle while the litigation drags on. Construction prices are soaring, housing prices are falling and mortgage companies have tighten their lending practices ... a great recipe that can only mean this project is a complete disaster. I don’t have a copy of Linden’s Answer or Counterclaim, but what Linden should have done if it hasn't, was sue to have the incompetent UCIA removed as the redevelopment agency. This project has been going on for over 5 years and there is nothing to show for it, except an empty field, bond payments and lawyer fees. Too many on council are afraid to step on the toes of the Cog who also serves as the County Chair, including our own attorneys.


Unknown said...

contact JEL if possible

NFS said...

Hey! Go to the following site and get a screen name. Then come back and tell me what your screen name is and I can send you a private message.


Unknown said...

JEL on that site