Two important things are going to be on this week’s council agenda this Wednesday which is being held at the Elementary School 360 Navesink Ave (Rt 36) at 8pm:
Proposed Pro’s: Increased Ratables – However, the math doesn’t add up on this, it sounds like a more ratables is in theory only.
Proposed Highrise 120 ft high, so lets say 12 units per floor (mirrors Eastpoint) & 10 floors up = 120 units. Average cost per unit, approx $300k so $36 mln MV would be approximately $25 mln Assessed Value. If we also figure out of the 120 units, .33 will have school age children then approx 40 kids will be attending school. So the going rate per Highlands student is $20k ish per student, 40 x $20,809 = $832k per year. So the taxes generated minus the tax abatement, minus the per year school cost = -$383,422 (Well good thing we charged for those permits, we’re going to be almost $400k in the hole.)
Think about it this way, Highlands has many multi-family units on the South side (Look at all the condos under the Twin Lights) None of them have been the Silver Bullet for increased ratables.
If you are against having another Eastpoint, or just don’t want it because of:
Athetics – Its going to look ugly
Increased strain on current infrastructure, i.e. sewers, PD, Schools,
Ecological Reasons – The Hill can’t hold it up
Potential Litigation costs – A few years back Highlands lost a legal battle to do something similar
You’re just cantankerous and you don’t like new things
Click below for a sample email to send to the council and object (Needs to be done by Wednesday 8/21)
II. Reading of the proposed Ordinance to go to a Non-Partisan Government
(That petition thing a lot of you signed during Clamfest).