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Re: Mayor Fulop to Introduce 2017 Budget with No Tax Increase Tonight March 22nd, 2017
#31
Home away from home
Home away from home


Quote:

Yvonne wrote:
It is amazing how taxes or fees go up but the story is no tax increase. Here is one example of increase. In 2012, homeowners paid $12.5 million in the franchise agreement (water). Today, it is $19 million. Instead of giving the public a refund, we are paying more. How about adding up the increase of fees that the city charge residents?


Yvonne, I actually agree with you. How about decreasing property taxes by $6.5 million to make up for the increase in water rates?? Just annoying politicking from city hall.

State changes in school aid can't come soon enough. I'm tired of this BS.


Posted on: Yesterday 12:46
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Re: Wow - LSC's Updated Plans for SciTech Scity
#32
Home away from home
Home away from home


Quote:

Monroe wrote:
Anyone saying this land is worthless is missing the fact that a plot half as large, across the street, sold for $35 million dollars TWO YEARS AGO.


Exactly!

That sale was for 7.5 acres and has a bunch of serious environmental conditions affecting value. (or $4.7 million an acre).

Fast forward two-years, the Sci-Tech City lands is 16 acres... if put on the private market for highest and best use, this land comes in conservatively at $50 million+ maybe $75 million. Again, I still strongly support Sci-Tech City project even at a land valuation of $100 million, but why do people tell lies and say the land has no value. Seriously?

Posted on: Yesterday 12:42
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Mayor Fulop orders gender-neutral restrooms in city buildings
#33
Home away from home
Home away from home


Fulop orders gender-neutral restrooms in city buildings

By Terrence T. McDonald | The Jersey Journal
Email the author | Follow on Twitter
on March 24, 2017 at 11:43 AM, updated March 24, 2017 at 12:16 PM

JERSEY CITY -- Taking another swipe at President Trump, Jersey City Mayor Steve Fulop yesterday issued an executive order declaring all bathrooms in municipal buildings to be gender neutral, a signal of support for the transgender community.

Fulop's order requires a sign at any bathroom maintained by the city saying, "Gender diversity is welcomed here; please use the restroom that best fits your gender identity or expression." The two-page document is the 41st executive order of Fulop's administration.

http://www.nj.com/hudson/index.ssf/20 ... pal_buildings_will_b.html


Posted on: Yesterday 12:30

Edited by Stringer on 2017/3/24 12:49:40
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Re: Wow - LSC's Updated Plans for SciTech Scity
#34
Home away from home
Home away from home


Anyone saying this land is worthless is missing the fact that a plot half as large, across the street, sold for $35 million dollars TWO YEARS AGO.

And dolomiti, do you think Fulop is going to make people from downtown drive Grand/Pacific/Johnston/Phillips to get there, when NJ has already signed off on the Jersey Avenue connection and another developer is planning to build thousands of units that will benefit from that?

And yes, if the donors were donating the money-why would JC have to wait for (whoever it is) to be paid back first?

And in the revised plan, JC will be getting half the 'profits' (if any) from the get go.

It's a jello plan. You can't grab it, you can't examine it.

Posted on: Yesterday 12:28
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Re: Wow - LSC's Updated Plans for SciTech Scity
#35
Home away from home
Home away from home


While I fully support this project, I'm frustrated by the rose-colored glasses worn by Dolomiti. Why toe the party line still even as this is approved, and look at the serious issues facing this project.

My prediction

1) This will not be built in in current form as LSC will come nowhere near the amount of funding needed for construction AND there is no bank in the world crazy enough that will lend on such shaky financial projections.

2) Even if this somehow gets built, it will never turn a profit due to accounting tricks and the nature of a non-profit business. There will be decisions made to limit what's considered profit even if they come close.

I do want to see this built, but please show me a pro-forma or similar development anywhere in the world where this has happened.

I suspect the plot of land will just remain vacant for nearly a decade until a more feasible plan is put in place.

Even though I fully support this project, watch I be attacked by pro Fulop minions for not drinking the kool-aid. LOL Why can't people just be real and honest about this situation instead of the age of alternative facts.

Any feedback, good or bad, on the above is welcomed.





Quote:

Dolomiti wrote:
Quote:

stc4blues wrote:
I still don't understand what's going on with this $78M. De we have:

1. Doners' giving $78M to a non-profit entity, which then
2. loans it to a for-profit entity (against the value of the land?),
3. which must then repay the loan to the non-profit entity. Hence,
4. The City's 50/50 split of the net doesn't kick in until that loan is repaid.

Is that what's going on?

That's not my understanding.

1. LSC fundraises and gets $78m from donors
2. LSC will invite investors for another $55m worth
3. LSC takes out loans for the rest of the project
4. Nothing has to be repaid to the donors
5. The city starts getting paid for the land, after the project makes $78m in profits; they are paid 50% of subsequent profits.
6. Once the land is paid off, the city's share drops to 20%.

Posted on: Yesterday 12:28
Top


Re: Wow - LSC's Updated Plans for SciTech Scity
#36
Home away from home
Home away from home


Quote:

Dolomiti wrote:
Quote:

stc4blues wrote:
I still don't understand what's going on with this $78M. De we have:

1. Doners' giving $78M to a non-profit entity, which then
2. loans it to a for-profit entity (against the value of the land?),
3. which must then repay the loan to the non-profit entity. Hence,
4. The City's 50/50 split of the net doesn't kick in until that loan is repaid.

Is that what's going on?

That's not my understanding.

1. LSC fundraises and gets $78m from donors
2. LSC will invite investors for another $55m worth
3. LSC takes out loans for the rest of the project
4. Nothing has to be repaid to the donors
5. The city starts getting paid for the land, after the project makes $78m in profits; they are paid 50% of subsequent profits.
6. Once the land is paid off, the city's share drops to 20%.


In my opinion, not getting paid back until $78m in profits was a poor deal for JC. JC should be getting a % of revenues from day 1. It doesn't have to be 50% - it could even be 1-5%.

But the current deal just incentivizes LSC to delay profitability. Or redefine what profit is (using accounting tricks).

Posted on: Yesterday 12:18
Top


Re: Wow - LSC's Updated Plans for SciTech Scity
#37
Home away from home
Home away from home


Quote:

Dolomiti wrote:
Quote:

stc4blues wrote:
I still don't understand what's going on with this $78M. De we have:

1. Doners' giving $78M to a non-profit entity, which then
2. loans it to a for-profit entity (against the value of the land?),
3. which must then repay the loan to the non-profit entity. Hence,
4. The City's 50/50 split of the net doesn't kick in until that loan is repaid.

Is that what's going on?

That's not my understanding.

1. LSC fundraises and gets $78m from donors
2. LSC will invite investors for another $55m worth
3. LSC takes out loans for the rest of the project
4. Nothing has to be repaid to the donors
5. The city starts getting paid for the land, after the project makes $78m in profits; they are paid 50% of subsequent profits.
6. Once the land is paid off, the city's share drops to 20%.


And since there has been no formal appraisal of the land itself, we don't know how long step #5 will last, if it ever gets to step #5, because they have to generate $78 million in profits first. Fat chance of that given the LSC's overall track record and bloated bureaucracy, which will only get more bloated with this project.

Posted on: Yesterday 11:47
Top


Re: Wow - LSC's Updated Plans for SciTech Scity
#38
Home away from home
Home away from home


Quote:

stc4blues wrote:
I still don't understand what's going on with this $78M. De we have:

1. Doners' giving $78M to a non-profit entity, which then
2. loans it to a for-profit entity (against the value of the land?),
3. which must then repay the loan to the non-profit entity. Hence,
4. The City's 50/50 split of the net doesn't kick in until that loan is repaid.

Is that what's going on?

That's not my understanding.

1. LSC fundraises and gets $78m from donors
2. LSC will invite investors for another $55m worth
3. LSC takes out loans for the rest of the project
4. Nothing has to be repaid to the donors
5. The city starts getting paid for the land, after the project makes $78m in profits; they are paid 50% of subsequent profits.
6. Once the land is paid off, the city's share drops to 20%.

Posted on: Yesterday 11:24
Top


Re: Wow - LSC's Updated Plans for SciTech Scity
#39
Home away from home
Home away from home


Jersey City also had a similar agreement with Newport. The city was to share in its profits. Nothing came of it so former Mayor Schundler sold this agreement back to Newport for $2 million that he placed in the budget. I believe something similar will happen except we will not even get $2 million. Nonprofits do not make money and this place has been struggling for quite some time.

Posted on: Yesterday 11:22
Top


Re: Wow - LSC's Updated Plans for SciTech Scity
#40
Home away from home
Home away from home


Quote:

Monroe wrote:
@dolomiti, the Jersey Avenue is a done deal....

Show me the paperwork.

Better yet, show me the bridge.


Quote:
Here's Fulop on this

The city would share in revenue only after profits hit $78 million. That is the amount in donations from LSC's donor base that LSC expects to divert to SciTech Scity to get the project moving, according to Fulop.

Now why wouldn't the donors just give the 'donation' to the LSC new project? Why does it need to be paid back?

Holy ****.

The donors ARE giving their donations to the LSC for the project.

THE DONORS ARE NOT GETTING ANYTHING BACK.

Read it again. The phrase "PAID BACK" is never used in that paragraph, or in Fulop's post.

Nothing in there says the donors get repaid. The deal is structured so the City only starts getting paid back after the project has turned a profit of $78m. That number could have been $50m or $20m or $150m.

Again, I have no idea why they picked $78m, I'd say they should have selected a different number to avoid confusing people.

The more legitimate complaint is that it's going to take a long, long time for the city to be repaid. While I for one do not care, at least that complaint makes sense.

Posted on: Yesterday 11:16
Top


Re: Wow - LSC's Updated Plans for SciTech Scity
#41
Just can't stay away
Just can't stay away


I think this is great for the city and for Liberty State park, and the fact that Sam Pesin has come out in support of it is a good thing. The idea of Jersey City becoming an education center by leveraging the already substantial investment in LSC, along with its great location and proximity to the HBLR make it a real potential to create educational opportunities for our local kids.

I also like the idea that it provides a development barrier to commercial and/or high density development that will encroach onto the park. Having a science center right next to a natural area seems to me to be a great fit.

Posted on: Yesterday 11:12
Top


Re: Wow - LSC's Updated Plans for SciTech Scity
#42
Home away from home
Home away from home


Quote:

Monroe wrote:
@dolomiti, if it's not a loan, why does whoever put up the $78 million get it paid back (ahead of the city, who is giving up a very valuable piece of land without which the project is impossible?)

How many times and ways do I have to say it?

THEY ARE NOT GETTING REPAID.

That's why it is called a donation. When I donate money to the Metropolitan Museum of Art, I do not expect to get it back, it's not a loan, I am not going to get repaid.

Nothing in anything I've seen suggests that the donors will be paid back. Nothing. Nothing.


Quote:
As far as the costs of operating a school, if only the building is 'free' shouldn't JC project what the other costs are...

Good gravy. Does that really matter? Should we start closing existing schools because having more schools incurs some additional costs?

Yes, it will cost a bit more to add a school. But opening a new school does not add students to the district. We have to pay for their education one way or another. The hope is that the added costs for the school will be accompanied by improved outcomes for the students, which also enhances the reputation of JC.

Posted on: Yesterday 11:08
Top


Re: Water damaged wall and ceiling
#43
Quite a regular
Quite a regular


The first thing you should do is get a copy of the building's certificate of insurance and report the claim to their liability insurer. The rest will tend to take care of itself. Ignore their "contractor." Put the carrier on notice.

Posted on: Yesterday 10:47
Top


Re: Wow - LSC's Updated Plans for SciTech Scity
#44
Home away from home
Home away from home


I still don't understand what's going on with this $78M. De we have:

1. Doners' giving $78M to a non-profit entity, which then
2. loans it to a for-profit entity (against the value of the land?),
3. which must then repay the loan to the non-profit entity. Hence,
4. The City's 50/50 split of the net doesn't kick in until that loan is repaid.

Is that what's going on?

Posted on: Yesterday 10:07
Top


Re: Water damaged wall and ceiling
#45
Home away from home
Home away from home


OK - so the management company sent over a contractor to look at the damage. He claims that it's what they call a "flash flood/leak", and there's no ongoing humidity, and therefore they don't expect any mold. he recommends just doing a paint-over with stain remover/primer/paint.

I'm not sure if I can believe him!?!?!?!

The management co. also told me that it was a toilet overflow (it was a lot of water!!! Started in 4th flr and went down all the way to 1st - not sure if a toilet can overflow that much!?!?!?), so it's a one-off and not an ongoing issue.

There's no window in the bathroom, but there's an exhaust fan that pipes to the outside.

Posted on: Yesterday 10:00
Top


Re: Wow - LSC's Updated Plans for SciTech Scity
#46
Home away from home
Home away from home


good! glad its going forward. criticizing the city for "giving away" undesirable, unused land that would otherwise sit vacant anyway is myopic when factoring the long term financial and educational benefits of this project.

Posted on: Yesterday 9:47
Top


Re: Any idea when alternate side parking will resume?
#47
Home away from home
Home away from home


Just bumping the link below from GrovePath. Sweeping resumed today but no tickets. With warm and rain on the way we'll be moving cars on Monday...

Posted on: Yesterday 9:45
Top


Re: Wow - LSC's Updated Plans for SciTech Scity
#48
Home away from home
Home away from home


The Memorandum of Understanding which was not available on the City website or the JCRA website is complicated and promises to provide full employment for lawyers for many years should this plan go south. Isn't the litigation with Hyman over the embankment still ongoing? Didn't the litigation with Mocco over Liberty Harbor North last 15 years?

Posted on: Yesterday 9:17
Top


Re: U.S. Sen. Menendez - new federal investigation
#49
Home away from home
Home away from home


Quote:

Dolomiti wrote:
Quote:

TheBigGuy wrote:
Now this should be interesting to watch... this was a political hit job from the previous admin "non- political" DOJ... now with all the NJ connections in the WH. What can we do to make this all go away?

Let's start watching how the senator starts voting? Starting with a Scotus vote?

Meh... I see no indication that the case has in any way affected his voting habits.


I can only assume you are referring to BM past voting record under Obama. That is what got him in trouble with the WH.

I was talking about the future...

http://www.nj.com/politics/index.ssf/ ... _a.html#incart_river_home



Posted on: Yesterday 9:11
Top


Re: Wow - LSC's Updated Plans for SciTech Scity
#50
Home away from home
Home away from home


This is a great project. Happy to hear it is moving forward.

Posted on: Yesterday 3:04
Top


Re: Wow - LSC's Updated Plans for SciTech Scity
#51
Home away from home
Home away from home


Quote:

WhoElseCouldIBe wrote:
Which council members voted YES? Let's get their names out there.


I haven't seen the results of the second reading, but at the first reading, Yun and Boggiano voted against it. The rest voted in favor. It was a 6-3 vote at the second reading, and I presume Yun and Boggiano voted the same way as before.

Posted on: 3/23 23:04
Top


Re: Door recommendation for open Den area
#52
Home away from home
Home away from home


Quote:

07310 wrote:
I agree with Brewster, hire a professional to do this it is not DIY project.


It's totally doable DIY, I've done several similar doorways, but it's not for beginners, which the OP sounds like. In fact I'm dealing with one on my current reno, a 42" x 92" opening. I have no idea what was there to begin with, perhaps french doors, but it's an awkward width for them, you'd have to open both because 21" is an uncomfortable squeeze for a bedroom door. What I did on another floor was make an 80" transom with a flat panel and bring in the sides with lumber & molding to create a 30" doorway.

Another unit had a 60" wide archway with no doors. I added jambs and used flexible PVC moldings to put a jamb and stop across the arch. I then took hollow core doors, cut them to fit and glued in lumber where it was hollow on the arc.

Before

Resized Image


After

Resized Image

Posted on: 3/23 21:23
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Re: Door recommendation for open Den area
#53
Home away from home
Home away from home



Posted on: 3/23 20:16
Top


Re: Property Tax Appeal - Comparable Sales
#54
Quite a regular
Quite a regular


Most realtors are happy to pull comps. Just ask nicely.

Posted on: 3/23 19:49
Top


Re: Door recommendation for open Den area
#55
Home away from home
Home away from home


I agree with Brewster, hire a professional to do this it is not DIY project. You can price out the track and most of the materials at Home Depot. I did mine years ago so what it cost me wouldn't be relevant to today. Just getting the doors aligned will drive you crazy. Measure the space so you have a better idea of what will look good in your space.

Posted on: 3/23 19:27
Top


Re: Wow - LSC's Updated Plans for SciTech Scity
#56
Home away from home
Home away from home


Which council members voted YES? Let's get their names out there.

Posted on: 3/23 19:20
Top


Re: Wow - LSC's Updated Plans for SciTech Scity
#57
Home away from home
Home away from home



Posted on: 3/23 19:15
Top


Re: Jury duty questions
#58
Home away from home
Home away from home


I did my 2 days in Feb. The juror management staff do a great job of communicating what to expect and keeping you updated. They acknowledge jury duty is not exactly loved by the public and show their appreciation. You can also leave for short breaks as long as you sign out.

I did get called near the end of the first day for a case. You then go into a courtroom and the rules are more severe: no cell phone, food, drinks, talking etc. I had gone from essentially working on my laptop to not being able to communicate with anyone (which sucked because I was right in the middle of buying/selling a house). You can ask to be excused and go into the hallway.

By the middle of the second day they had their jury and we were released. It was a smooth and, actually, interesting process.

Posted on: 3/23 19:14
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Re: Wow - LSC's Updated Plans for SciTech Scity
#59
Home away from home
Home away from home


so are the Council Members patsies at the table or are they getting something out of this?

The deal is laughably bad and riddled with "if/then" assumptions that will never come true.

JC residents will have plenty of time to consider the Council's motives when they are stuck for 3 light cycles at Jersey and Grand...

Posted on: 3/23 17:57
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Re: Wow - LSC's Updated Plans for SciTech Scity
#60
Home away from home
Home away from home



Posted on: 3/23 17:42
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