Friday, November 03, 2006

The Fleecing of Hamilton and NJ- Cut the price

Hamilton has sought a discount on the Klockner Woods deal, and credit for the interest paid so far, from Superior Court Judge Linda Feinberg:

In a letter to Feinberg, township attorney Paul Adezio explains that a plan by a township consultant shows that at least 34 homes -- and as many as 40 with zoning variances -- could be built on the site. The $4.1 million price, Adezio says, was based on the ability of Fieldstone to build 41 homes on the land.
"Additionally, since the parties were mutually mistaken as to the number of buildable lots on the property when they entered into their agreement ... the Township will ask the Court to consider correcting the mutual mistake of the parties by amending the purchase price to reflect the applicable number of lots ...," the letter said.
Adezio does not specify how much the township feels the price should be reduced. Fieldstone attorney John H. Buonocore did not return calls for comment on the suit and Adezio said he had not heard from the developer on the possibility of dropping the price or crediting the interest payments.

Hamilton also requested "guidance" on how to proceed since one councilman, attorney David Kenny, still feels the purchase was illegal because funding was never approved and will block the approval now. Yeah, good luck with that.

Rocky Swingle (what a great name, Rocky Swingle), president of Save Hamilton Open Space: "We need to save this money so we can preserve other land with it. If we spend too much on this, there is less to spend on others." The land ought to be preserved, absolutely, but at a price that Hamilton's and Our Fair State's taxpayers can afford.

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