Ridgewood will pay the price if zoning changes are approved
January 2, 2015
Village stands to pay the price
To the Editor:
If the Ridgewood Planning Board grants the proposed zoning changes to allow for higher density buildings in the Central Business District, that would be a financial bonanza. But for whom?
If one answered the developers, he/she is correct. More allowed units per property increases scale and return on capital. With the approval, even before the developers dig an ounce of dirt, the land they own will be worth quite a bit more. The developers could even flip the plots for a profit.
In the world of commerce, one of few things could happen when there is financial windfall. The best case is the virtuous win-win. If what the developers build, on net, benefits the town in terms of life and finances, that would be win-win.
Another possibility, the darker alternative, is that the case becomes a zero-sum game. In such an instance, there will be a clear winner and the winnings are transferred from a losing counterparty.
By allowing for higher density buildings in downtown, Ridgewood risks increased traffic congestion and fewer available public parking per resident. Moreover, Ridgewood faces potential crowding at its schools, which impacts the quality of education and drains the town’s budget. As for benefits, there is none convincing as any increased tax revenues are unlikely to be enough to pay for additional infrastructure and resources necessary to accommodate the gap up in the number of residents.
If the Planning Board passes the zoning changes, there will be a clear winner: the developers. On the flip side, Ridgewood will be the loser as it will have to pay the price to enrich the few developers whose core objective is to exploit attractive rental cap rates at historically favorable funding. So why does the Planning Board think the proposed zoning change is a good idea? Why are select members of the board open to granting a financial bonanza to the developers at the town’s expense?
Steve Kim
Ridgewood
Let’s get this thing started dude….you should get a 100 comments on this.
https://www.northjersey.com/news/animal-rights-activists-blast-ridgewood-councilman-mike-sedon-over-his-bear-hunt-remarks-1.1185360
“Let’s get this thing started dude ” next post 9am
WOW Mike what were you thinking. You should take some classes from our Mayor on how to throw some bull. I cant’ wait for Dom”s post on this it should be a good one.
He must read this to planning board. There is no argument to this. He’s right on.
Absolutely dead on regarding the Village — our so-called planner sat on the witness stand dithering about how the “devil is in the details” but how conceptually this is great for some undefined state goals about putting housing on rail road tracks. Its appalling and pathetic that we have a council in place that will allow the Village’s demise.
Perhaps we should have contest for the new name of the Village once our master plan is ditched because council members don’t have the back bone to stand up to the developers, or they are being guided by their own self-interest to sell out the Village.
Listen, if the council and planning board gives it to the developers is there any way to rescind the plan after we vote in a new council? Or modify the plan?
I don’t think so #6 Once the permits are issued and they start building they will be grandfathered in and believe me they will brake ground right a way. By the time a new Council is elected you could stop any further building but by then the damage will already be done.
Stop calling it a village….that died years ago.
And what makes you think any council member is going to have back bone?
They have been bought and paid for long ago as well…..
Just repeal ordinance 3066 outright and reject all current proposals before the planning board to amend the Master Plan. Problem solved. Don’t see why the Mayor isn’t pushing this, he’s voted against Valley’s expansion TWICE now. Should be a simple 4-2 vote.
Too many private back room meetings, where decisions have already been made and promised.
#9 didn’t our Mayor say we should repeal 3066 when he was running for re-election?