Dear Editor: In this age of super entitlement by all to everything, we sometimes forget the principals by which we operate and which have so blessed our country and our economy. We are, first and foremost, a system of the rule of law, its guarantee of private property and its uses. This combination has generated the capital that drives much improvement in everyone’s lives from better paying jobs to decent housing. The Shipyard project, which takes in 12th Street to 16th Street on the river in Hoboken, and its newest phase, the proposed pier project of 120 condominium units, park, pier promenade and recreation area, is a case in point. The overall development has generated and will generate, as a result of the housing and shops: a) Millions in annual revenue for a City which runs a deficit of almost $10 million a year in its budget. b) Public piers, riverfront promenades, landscaped parks and public access to the river’s edge by road and path, an access which was never before permitted in Hoboken’s history. c) The rejuvenation of the northeast section of Hoboken, which lay abandoned for 20 years, and the creation of new services, shops and jobs with the money spent by the new residents. d) A coming new ferry stop along with the first local marina. e) And, as they say, much more: plantings, landscaping, streetscape, the Hoboken Historic Museum for which we have donated the space. This carefully orchestrated reclamation of the waterfront is our trademark, sound planning and great attention to aesthetics. The Shipyard, 43 acres of land and water, is not public property – it is the recognized private property of the Applied Development Company, of which I am President. And, the Hoboken Law – codified and written in its ordinances – permits development on piers. So does the State law as applied in the regulations of the Department of Environmental Protection. Of course, free speech is a protected right as well. We all know that this project has generated its fair share of that, but at the end of the day, development must be permitted according to the rule of law, not the rule of intimidation, exaggeration and falsehoods being advanced by a small group of politically motivated individuals. At the same time, our company recognizes the legitimate concerns of the community and we will address them in exemplary fashion as we always have. I must mention that our company has consistently invested in Hoboken for over 30 years, through thick and thin, all the while staying true to our mission of providing quality housing and improving neighborhoods, building by building. With regard to the currently proposed project, the area between 15th and 16th Street and the 16th Street pier itself are in very bad physical shape. It is off-limits to all and our portion of the State mandated Hudson River Walkway will not proceed past the new 15th Street by decision of the New Jersey DEP. We can leave the area north of 15th Street abandoned, deteriorated and off-limits, or we can attempt to restore the pier and the upland and landside platform at a significant cost. We propose to restore it and we believe that the City and its residents benefit from our plan (which is set forth in the accompanying diagram so there can be no mistake about what the plan is). The design provides for far more in public amenity than is required. It provides an addition of over 25,000 square feet in open recreational space, and it gives continual access to the water’s edge along both sides of the pier, far better than the pile of rubble that currently exists. The 120 unit condominium project pays for all of this and, hopefully, earns us a return commensurate with our risk and efforts. (As mentioned above, our projects are of no small significance to this community. Our profits, for the past 30 years, have been continually reinvested in this town and have helped to attract hundreds of millions more in capital to the improvement of Hoboken). Beyond our right to pursue development of the Shipyard property in accordance with law, we have always, in our 30 year history in Hoboken, made our objectives consistent with the needs of the community. • We have produced and still operate over 1,500 units of decent, beautiful, low and moderate income housing. • We have produced over 1,000 units of new and beautiful market rate housing. • We have created six public parks and plazas as well as thousands of feet of landscaped streetscape. • We have created almost two thousand off-street parking spaces. • Our own investment in Hoboken exceeds a quarter of a billion dollars, making us the single largest real estate taxpayer. • We, ourselves, created jobs for over 200 local people. The multiplier of our activity has created jobs in the hundreds. Our history is one of concern and credibility. We believe as we set forth the very real benefits of the newest project at the planning board, the public will appreciate our effort. Next week in Part II, we will comment on traffic, views and the ultimate plan for completion of the Shipyard project. Joseph Barry President, The Applied Companies