Some recent tweets from Jim Kennedy @ACEconPolicy. Jim Kennedy is a former CRDA executive director and local economic analyst.
Glenn Straub owns 70 properties in the AC Inlet, 50 of them outright. The properties came as part of the Revel acquisition. It makes him the dominant player in the Southeast Inlet development process.
Most (if not all) of Glenn Straub’s Polo North properties listed for tax certificates sale on December 17.
This means 3 of the largest Boardwalk private sector developers are significantly delinquent on their property taxes.
Does Atlantic City even need a Mayor?
Jim Whelan was the only Atlantic City Mayor (in past 50 years) not to strike out or get ejected from the game. A modified Council-Manager form of government with a [State] appointed City Manager & an elected City Council would work much better.
Frank Gilliam campaign supporters spent an inexplicable $260k to elect him as AC Mayor. The FBI may be about to tell us why. A candidate for Mayor attracts money like honey attracts bees. A change in government to Council-Manager would slow down the money flow.
— Jim Kennedy @ACEconPolicy December 5, 2018
For Frank Gilliam’s term as Mayor, AC has been under State Control. The Office of Mayor was stripped of power. For Gilliam to attract this level of FBI attention must have required some extraordinary effort.
CRDA and Showboat Hotel
CRDA approves a Showboat Hotel major zoning use change while the owner was over $2.4 million dollars behind in property taxes without full public disclosure of that fact. It’s a dysfunction of the state takeover. Not a zoning board in the country could get away with this.
Showboat’s CRDA Application for the Zoning change to residential is left blank (Question #4) The only question on the three page CRDA check list which Showboat is not asked to answer. Go figure.
Bart Blatstein hasn’t paid 2018 Atlantic City property taxes.
His related companies own over $1,5 million dollars in back tax payments. Showboat & Garden Pier are now both subject to tax lien auction.
Blatstein will surely pay up prior to the December 17th Auction.
Philadelphia’s Live! Hotel & Casino will be up and operating in two years, There’s not much Philadelphia market share left to lose. Cordish’s new casino isn’t going to help AC Gross Gaming Win.
Jim Kennedy @ACEconPolicy. Atlantic City Regional Economic Analysis – Jim Kennedy, MBA, JD.