SURPRISE, SURPRISE; LAND TRANSFER DEAL RAISES QUESTIONS

Land transfer deal raises questions
November 6, 2009

Asbury Park Press

In the Oct. 12 article "Land planned for corporate park in Lakewood subject to hearings," the Press reported that Cedarbridge Development Corp. purchased the land to be developed as a corporate park from Lakewood for $10 and sold it to Somerset Development for $9 million..

The article failed to address several important questions: Why was the $9 million transferred to a special interest group, Beth Medrash Govoha Yeshiva Educational Fund, instead of being held in escrow? Has there been an accounting of how the fund reinvested the $9 million? How will the money be used to develop the Cambridge Corporate Park?

Where is the resolution that gave the deputy mayor the authority to sign the contract and the deed to sell the land to Cedarbridge for $10? Why do the documents indicate the transfer to the education fund took place in March 2003 when Deputy Mayor Meir Lichtenstein signed the title documents on March 17, 2005?

It appears the Township Committee's negotiations on this were conducted behind closed doors. The lack of transparency makes it appear the committee acted to serve a special interest group and not the township.

Regardless of the reasons cited for the failure of Somerset and Cedarbridge to develop the corporate park as required by contract, the $9 million belongs to Lakewood taxpayers and should be deposited in escrow for the development of the Cedarbridge Corporate Park. And the land should be returned to the rightful owners — the taxpayers — and held until it has been determined how the park will be developed.

John W. Gage
LAKEWOOD
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COMMENTS:



agate5 wrote:
This stuff happens in Lakewood all the time. And I totally agree with John, the money should be put into escrow. Enough is Enough
ShoreToDecline wrote:
This is a great article as I myself was left scratching my head when I read the original ones pertaining to this transaction. How did it not raise more eyebrows is what I'm left wondering. Well, that and how was this not illegal in the first place? Federal law enforcement (since state doesn't seem up to the task) really need to step in here before the town is left bankrupt and destroyed.
IfIknewthen wrote:
Even more questionable. Committeeman, Robert Singer was given a seat on the Bd of Directors of an AUSTRALIAN CORPORATION for $50,000 per year by BMG shortly after voting in favor of this deal. When challenged about this he said "I have a family to feed." We need the feds to look into Lakewood's land transfers, HUD, Section 8 operations, Bd of Ed expenditures, NOW.
beachn8iv wrote:
Replying to IfIknewthen:
Even more questionable. Committeeman, Robert Singer was given a seat on the Bd of Directors of an AUSTRALIAN CORPORATION for $50,000 per year by BMG shortly after voting in favor of this deal. When challenged about this he said "I have a family to feed." We need the feds to look into Lakewood's land transfers, HUD, Section 8 operations, Bd of Ed expenditures, NOW.Yeah, Mazel tov with that. I guess you have to yet figure out who's running that little town.
thomcu wrote:
Special interests in Lakewood? Nah!



StoshTheMan wrote:
This whole thing stinks on ice. Since the Vaad backed the wrong horse, and the governor elect is an anti-corruption guy, maybe this, and other shady deals, will start to get some attention.
DIXIEDINER wrote:
The citizens of Lakewood were seriously cheated out of nearly $10 million.There is clearly a prima facie case here for illegal transfer of property.Remember Mayor of Newark Sharpe James ?Where are the funds and where are they being used and managed?Had the town sold the property for near what it was later sold for there would be no questions; hhence it is time for the AG to step in and clear the air.Is Dwork an advisor here?
tru2tom wrote:
Watch out Lakewood!This particular"special interest group"has taken over other places who allowed this Hasidic sect to buy its land.Just in the last few months in NY,these people have been responsible for using a private home to butcher a cow.This home had not received a CO because it added illegal school rooms.Although they received a fine the house and schoolrooms are still there.They also slaughter chickens.The remains of the chickens have feathered the streets and polluted our streams and waters.The Rabbi refused to pay the fine.They received $160 million of the stimulus package for a slaughter house which hasn't been built, has no permits and is opposed by the community.These people have no consideration for our laws or community relations.If Lakewood allows them to get away with this watch how quickly they take over.The Hasidim contribute to a campaign and then vote as a bloc.The bloc vote has elected the choice of the Hasidim.They have destroyed Ramapo and Lakewood is next!