1. iStar said city agreed to support them in 2014 lawsuit settlement. No new lawsuit has been served. Yet.
2. Revenue comparison for 20 years for Long Beach. Current revenue stream would be $54.4 million. With PILOT it would be $34.7 million.
3. Revenue with PILOT would include city fees, permits, infrastructure improvements. Etc.
4. For 20 years, currently city would get 5? Million. With iStar pilot it would be $34 million. (I’m confused.)
5. iStar can convert apartments to condos. (This is going too fast. )
6. LB saying it’s a complicated situation. (I personally feel they are trying to sell us on IDA so we don’t get sued, saying it’s a cheaper option than litigation.)
7. City – “No other developer on horizon”
8. Question time.
A. Is the city scared? City – “No.”
B. What’s the point of the hearing?City -“To provide information.” (Yawn.)
C. They want school board position. (not going to get it tonight)
D. Please explain city’s support of project. “City agreed to support iStar to achieve the grant??” (I think that’s what he said. Don’t read this verbatim.)
E. iStar argument is City promised to support them.
G. Why aren’t services of potential new residents included with impact? (Is that what they just said?)
H. “City trying to make a good business decision”
I. Reminding us the IDA is Nassau Republican based. Why would they sue us?
J. What is impact with school taxes. They aren’t bringing it up tonight.
K. FYI: Questions are being asked via index cards.
L. Who is responsible for infrastructure? PILOT requires iStar to support it initially?!?
M. Water issues…
N. (I’m totally zoning out. )
O. PP. Yeah, you know me
Q. “City supports application because litigation will cost too much. ” I think that’s what I just heard.
R. Some guy yelled “what are we gonna do about the parking?” Wrong meeting.
S. How do you sleep at night? That was a question.
T. What does Zapson have to do with it? Whose signatures are on original agreement? City – “I don’t remember”
U. Union folks just left. Project 11561 asked every one of them if they lived in LB. They all said NO.
V. They are going over what the PILOT would be. Too many numbers, but it’s not a set increase. It jumps around.
W. Why is city now speaking up? City – “We are just providing info.” That is official answer on what this meeting is about.
X. Cough in the mic just woke the room up.
Z. Assumption nobody else would build. (I call BS).
Zz. Why is Al D’Amato mad? City – “Because he didn’t get the deal to get paid. ” (yes, that was actually said.)
Zzz. Will there be additional presentation on school tax impact? City – “we don’t know”
Zzzz. “Why are we negotiating with terrorists? (That was a question.)
Zzzzz. (This is a complete waste of time.)
Zzzzzz. One guy keeps yelling, “That’s a good financial question!”
Nothing is really being answered. I heard Al D’Amato was upset over the public participation of this meeting and was basically asked to leave. (Yes, he was pissed that we couldn’t speak and the meeting was held via index cards).
7:54pm. Meeting over.