Dear Editor:
A dear friend once said to me if you don’t want to lose money at poker, do the following. When you sit down at the poker table, look around if you don’t see the sucker you better leave the table because you are the sucker.
In June of 2009 the Fisher Development Associates, the developers of Crystal Point on the Jersey City waterfront came to the Mayor and the City Council crying that they need to have their already generous tax abatement lowered and extended. The reason was that the economy is in recession and they were terrified that their project would fail due to very slow sales. I remember how the Mayor and the Council members all stood up and cried that we cannot afford to have a development project fail in Jersey City and leave a half finished building on our waterfront. What would happen to the rest of the future development in Jersey City if we did not take action?
With numerous opposition from citizens from Jersey City only Steven Fulop, the Councilman from downtown Jersey City voted no to amending the tax abatement.
On Sunday October 11, 2009 I opened the Hudson Reporter and there Brian Fisher a principal of Fisher Development is quoted as saying that the market for Crystal Point has had accelerated and strong buyer interest since May of 2009 and their prices starting in the mid $500,000’s are selling extremely well. All I can say is Mayor Healy and the members of the Jersey City Council it is time for you to leave the table.
Jeff Kaplowitz
Jersey City, NJ