Monroe wrote:
While I appreciate Steve coming here and giving his 2 cents, it's clear that there isn't a plan, but there is a dream.

Dolomiti wrote:
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JCGuys wrote:
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Now we're to believe that a $22 Million organization, which can't break even, can build a $230 Million++ SciTech Scity. The redeveloper is UNKNOWN...

LSC is in charge, and have appointed trustees. They are raising money already for the project. It's a bit early for too much more than a master plan.

Oddly enough, Fulop hated the 2008 loan, and is backing this plan. Go figure.

I also have to say, I vastly prefer to the previous plan, which was a 10 story hotel and conference center. Don't you?

Why not also include a hotel and conference center on a portion of the site if it makes the project and Sci-Tech City more economically feasible.

10 story hotel and huge conference center is not a good fit for the site in general.

That said, it sounds like the site will have a small conference center, and 50 units of temporary housing for visitors.

It's also a little difficult to have a big hotel and conference center occupying the same space as a project that combines commercial, residential and a school.

135jc wrote:
Not likely. A day at the liberty science center with lunch and parking is already an arm and a leg

brewster wrote:
Naysayers & critics: What's your point? What would you prefer?

1: Current plan

2: LSC gets charged market value for land, which likely sinks the project, and leads to 3.

3: The land gets sold to highest bidder, which is back to JC business usual, where nothing but money talks. The land is built out to the maximum possible revenue generating structures with no regard to benefiting the community.

Is there a "4"?

caj11 wrote:
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bodhipooh wrote:
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Yvonne wrote:
Councilman Boggiano said the director of Liberty Science Center makes over $400,000 a year in a salary, more than the salary of the president. If they can afford to pay him a salary like that they the center can afford to pay for land. This is the last large open space in JC and reval is around the corner. The city should sell and place in the budget to soften the blow for the reval.

We all know facts dont matter to you, but... if you are referring to the US President, the salary for the position is 400K, plus many other perks (including a travel account, entertainment account, around the clock security, etc) and it should be noted that many, many positions (particularly those like directors of non-profits, museums, universities, etc) are seemingly paid obscene amounts not because they are complex jobs, but because these people have a proven track record of fundraising.

Many years ago, I read a very insightful article into the practice. For those looking from the outside, it seems like crazy money, but a well known, effective fundraiser that can bring in millions and millions of dollars year after year on fundraising, gifts, pledges, etc. is a better investment for an organization looking to hire a CEO or director, than a relatively unknown person unable to generate that kind of investments and gifts. So, what does it matter if the head of a well known museum is paid 5 million dollars, if he can bring in 100 million in fundraising? Would you rather have a net ~90MM operating income generated by that single person? Or, have 10 or 20 MM ??

You may be right on that, but... there are at least seven other officers & employees of LSC that make well over $100,000 a year plus other perks and benefits, with few if any of them living in Jersey City. Additionally, when Liberty Science Center laid off all of those people back in 2008 when the economy was in bad shape, guess how many of those six-figure officers were laid off? Zero. Did any of them agree to take a salary cut in light of the times? You know the answer. Somehow this place has the money to pay the $ 100,000/200,000/400,000+ salaries, but has to cut people with $ 30,000+ salaries.

Furthermore, of the five highest independent contractors paid by LSC according to their 2015 tax return, guess how many of those contractors were businesses based in Jersey City? You know the answer.

This place has gotten somewhat better but still sorely lacks the fiscal discipline and commitment to Jersey City needed to build their case for this land.

Yvonne wrote:
bodhipooh, you think that attacking someone on a personal level will get you a win, but it shows this administration is running scare and are afraid of facts. They are afraid to do a assessment on the property before it is transferred. Boggiano also made a comment in the value of land at Exchange Place. He said an acre of land is worth $84 million, there. You can find his comments on the city's website or youtube when the council voted for the first reading. Why is the city afraid of doing an assessment before the transfer?

bodhipooh wrote:
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Yvonne wrote:
Councilman Boggiano said the director of Liberty Science Center makes over $400,000 a year in a salary, more than the salary of the president. If they can afford to pay him a salary like that they the center can afford to pay for land. This is the last large open space in JC and reval is around the corner. The city should sell and place in the budget to soften the blow for the reval.

We all know facts dont matter to you, but... if you are referring to the US President, the salary for the position is 400K, plus many other perks (including a travel account, entertainment account, around the clock security, etc) and it should be noted that many, many positions (particularly those like directors of non-profits, museums, universities, etc) are seemingly paid obscene amounts not because they are complex jobs, but because these people have a proven track record of fundraising.

Many years ago, I read a very insightful article into the practice. For those looking from the outside, it seems like crazy money, but a well known, effective fundraiser that can bring in millions and millions of dollars year after year on fundraising, gifts, pledges, etc. is a better investment for an organization looking to hire a CEO or director, than a relatively unknown person unable to generate that kind of investments and gifts. So, what does it matter if the head of a well known museum is paid 5 million dollars, if he can bring in 100 million in fundraising? Would you rather have a net ~90MM operating income generated by that single person? Or, have 10 or 20 MM ??

paig55 wrote:
I have so many concerns about this transaction. Many concerns that every property taxpayer and voter in JC should have FULL answers to before this transfer is approved.

Why wouldn't the council have the real estate appraised before the closing? Who ever heard of closing on real estate before having it appraised. As a homeowner didn't you have the property you were purchasing appraised before you purchased it?

Why is the Council President Lavarro voting on this transfer when he is also the Chair of JCRA. There must be a conflict of interest here. It may not be unlawful, but is certainly is unethical. As NJRA chair he has information about this transaction that no one else on the council has, yet he is allowed to vote on this transaction. Lavarro should abstain from voting, that is the ethical thing to do.
Also Daniel Rivera who also sits on the JCRA board. This the only ethical thing to do.

Why is the council and mayor promoting this 50/50 and 80/20 revenue share? They forgot to tell the public THERE WILL BE NO REVENUE SHARE. You ask why, this is why. Because the full agreement reads, that revenue will be shared when it exceeds expenses. Also, the revenue share will NOT include any revenue received from donations from individuals or corporate donations. What this means is that SciTech could have $100,000 in expenses, $100,000 in revenue NOT including the revenue of $100,000 in donations and JC will never see a penny of shared revenue. But SciTech will be seating on $100,000 in revenue obtained from donations. Keep in mind a hugh part of income in this type of non-profit could come from donations.
The contract wording MUST BE CHANGED to read: JC will have first right to % compensation before ALL OTHER expenses.

Did the council tell you there is a an article in the contract that allows SciTech to apply for ABATEMENTS? Now, why would a NON-PROFIT need to apply for an abatement? Why, because the plan is to lease hugh amounts of space to developers and they will want ABATEMENTS!

Who will be donating the $78 million needed as seed money? Who are these people/corporations and what relationship do they have with JC? Who are their board members and what is their relationship with JC? Have any of them made donations to the Fulop SUPERPAC?

The council is giving 16-17 acres of land to JCRA which will ultimately be sold to SciTech LLC for $10. If you are selling to SciTech for $10 than please explain the arrangement to pay the city a portion of revenue until value of land is repaid. Although, I have already explained JC will probably never receive all payment for the full value of this land.
It has been projected that this land could be worth somewhere BETWEEN $100-150 million. Is that why the council, mayor and JCRA wants to wait UNTIL CLOSING to appraise this land value. At which point nothing can be done to secure a compensation for this true value.

ALSO, there should be A PUBLIC MEETING to discuss and answer questions about this transaction. AT this time WE ARE LEAVING THE DECISION OF FIVE (5) people who have a pattern of voting in favor of WHATEVER THE MAYOR WANTS to decide the fate of OUR LAND.

THIS land value could provide an offset to the property tax impact after the REVAL. HOMEOWNER ALL OVER THIS CITY SHOUDL BE OUT QUESTIONING THIS TRANSACTION.

DID YOU KNOW that the Council has NO CONTROL over JCRA. Once this land is TRANSFERRED TO JCRA, we the citizens of JC will be POWERLESS in securing our rights to the land or its TRUE VALUE.

There are so many holes in the current contract, which will leave us the residents of JC with NOTHING.

Please call the City Clerks office and add your name to the speakers list 201-547-2233.
The 2nd and FINAL READING IS CURRENTLY SCHEDULED FOR WEDNESDAY, MARCH 22 @ 6PM.
PLEASE COME OUT you OWE IT TO YOURSELF AND YOUR NEIGHBORS.

If we let this happen we have no one to blame but ourselves.

Thank you.

J. Paige

Yvonne wrote:
Councilman Boggiano said the director of Liberty Science Center makes over $400,000 a year in a salary, more than the salary of the president. If they can afford to pay him a salary like that they the center can afford to pay for land. This is the last large open space in JC and reval is around the corner. The city should sell and place in the budget to soften the blow for the reval.

Monroe wrote:
jcguy05, I guess it's a fantasy that a developer wants to plant a giant development directly to the north of the LSC . . . http://newyorkyimby.com/2017/01/2265- ... n-avenue-jersey-city.html

Monroe wrote:
jcguy05, I guess it's a fantasy that a developer wants to plant a giant development directly to the north of the LSC . . . http://newyorkyimby.com/2017/01/2265- ... n-avenue-jersey-city.html

Wishful_Thinking wrote:
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GrovePath wrote:
16 Acres is a whole lot of land. It is the size of the entire World Trade Center site. What experience and background do those in charge of Liberty Science Center have in developing such a huge and high value project.

While the size of the site may be comparable to the WTC, it's really important to consider the context of this property. While it borders LSP on one side, to the west is I78, train tracks, semi-abandoned industrial properties in the triangle between the HBLR, Craven Point Avenue, and Garfield Avenue. West of Garfield Avenue is the worst neighborhood in JC. Take a look at GoogleEarthMaps!

I'm not sure the site, or the surrounding location, proximity to LSP notwithstanding, will ever support a huge and high value project - there is simply nothing there to attract anyone beyond the park. A casino? Maybe, as it's self-contained and you can ignore the surrounds outside of the park. I can't imagine there being interest in a hotel, when there are plenty of hotels located in areas that have some quality to recommend them as a place to stay.

Wishful_Thinking wrote:
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GrovePath wrote:
16 Acres is a whole lot of land. It is the size of the entire World Trade Center site. What experience and background do those in charge of Liberty Science Center have in developing such a huge and high value project.

While the size of the site may be comparable to the WTC, it's really important to consider the context of this property. While it borders LSP on one side, to the west is I78, train tracks, semi-abandoned industrial properties in the triangle between the HBLR, Craven Point Avenue, and Garfield Avenue. West of Garfield Avenue is the worst neighborhood in JC. Take a look at GoogleEarthMaps!

I'm not sure the site, or the surrounding location, proximity to LSP notwithstanding, will ever support a huge and high value project - there is simply nothing there to attract anyone beyond the park. A casino? Maybe, as it's self-contained and you can ignore the surrounds outside of the park. I can't imagine there being interest in a hotel, when there are plenty of hotels located in areas that have some quality to recommend them as a place to stay.

GrovePath wrote:
16 Acres is a whole lot of land. It is the size of the entire World Trade Center site. What experience and background do those in charge of Liberty Science Center have in developing such a huge and high value project.

Monroe wrote:
What's the cost to relocate the Liberty Humane Society, including providing them a new home? Will they be given that land/building too?

Monroe wrote:
JC hasn't paid for a school in recent years anyway-Abbott and the NJ taxpayers have been paying, so this isn't saving JC a penny-it's not been spending its own money anyway.

No risk?

Well, giving away a valuable piece of land with no likely return (we haven't seen a single spreadsheet or study showing how long/if $78 million would be paid back, let alone whatever 'valuation' is placed on this land)