Newspaper reports indicate that the property swap, PILOT agreement and commitment of RCA funds to Maryland's Landex Corporation may just be approved. At the very least, the pending legislation will be on the docket for Thursday's Council meeting.
As we said before, it is another instance of a bad developer seeking help and money from the city to bail out their failed scheme.
Kudos to Councilmen Bethea and Coston for trying to inject common sense into the proceedings and questioning the notion of throwing good money after bad.
And Councilwoman Staton's concern about multiple exits from the properties is great...although current construction and occupation codes apparently don't require this.
Most telling though, are Council President Paul Pintella's comments. Lacking anything of substance to say on the matter, he is reported to have congratulated the developer on an "impressive PowerPoint presentation." The deep thinking Pintella concluded that he is inclined to support the proposal because "the current situation is unacceptable."
What else would we expect from him. Let's not forget how the City stepped in and bailed out the failed housing development initiated by the now defunct Urban League of Trenton. To Pintella, the City is apparently there to help struggling developers, no matter what their track record.
Let's take a pass on this deal and parcel out those properties to worthy developers who have proven their ability to provide decent home ownership possibilities. And let's work on getting Ms. Siegel and Landex to clean up their mess here in Trenton before they come asking for any further financial assistance or property swaps.