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The Redevelopment Of Coney Island. Cash Cow Or Boondoggle?

By Neil Levine
Sept. 21, 2009

With the overall economy in poor shape, it should come as no surprise that Coney Island has shown poor results as far as attendance and revenue goes, with this summer season reportedly down significantly.

What this bodes for redevelopment probably would not be good except for the fact the current Coney Island Amusement District is run down and in need of great refurbishment, clean up and renewal. There are not only empty lots and dilapidated buildings all over the place but many other eyesores abound in full public sight.

With three big development sites that can be called A, B, and C, or Coney East West and Lost or whatever you want to tag them with, the current Mayor is not only talking about lots of new housing in the neighborhood along with a major amusement park, four hotels and significant retail. Of course, his idea and that of the major political blocks that rule City Hall idea of affordable housing is to cut real estate taxes to presumably be passed on in lower rent. Fully taxed apartments apparently are called luxury housing. Raising the issue that lowering taxes means being able to pay bills such as rent, an interesting phenomenon. Outside of New York City, rents are naturally lower anyway. Think about it. New housing and tax breaks. How free market or fair is that? What is the need or cause of such an different economic situation.

Now the Coney Island story has entered the land acquisition phase. The current City Administration itself appears to be in the process of acquiring land for what normally would be private business purposes. Ask yourself how unique and intriguing that is. Why is New York City going into the amusement business? Doesn't City Hall have more important things to spend time and money on? Better yet, how good a job are they going to do? Are they going to attract crowds of paying customers or will this turn into another subsidized boon doggle costing hard pressed tax payers more than it is worth. What is the name of the game? Jobs? Subsidies? Patronage? I find it interesting to note that New York politicians believe that liberally sprinkling tax payer money around gets out the vote, all the while living in an environment that is completely free of costs and without much in the way of serious negative consequences.

One can always hope that offering first class amenities with outstanding features to regale the public such as ocean going attractions, first class playground equipment and extras for children to enjoy and other public amenities will help attract customers to visit, use and even shop at the new facilities. While the current Mayor has a decent record and operating background in such matters, there is no guarantee that the public will get their monies' worth nor that what is built will be worth visiting. After all, slicing a white elephant into small pieces for all the local vested interests to share might not leave anything worth cogitating about.

The current poor business climate does not bode well for future developments anyway, especially with patronage demands always weighing heavily on official's minds. After all, being a public official is such a nice deal that there is no end of candidates willing to jump in and use the public's money to justify their own short sighted ends.

Will anything that attracts visitors and paying customers ever be built? Will it be first class and worthwhile? And why not allow the entire length and breadth of an underutilized boardwalk be used for commercial purposes just like the good folks all over New Jersey do? While there might be local objections precluding development in some sections, the boardwalk and beach are supposed to be open to the public and wider use in any case. What is wrong with that? And also allowing ball playing on the beach after hours with more play ground equipment thrown in for good measure.

Economic development in New York City has gone so far, I might point out, that with what is going on in nearby Asser Levy Park, there is the potential for every local neighborhood to have its own sports stadium. How many cities can brag about that? In fact, how many cities can afford it? You can hope New York City is going to raise money to pay bills. But you never know. The way Controller Wee Willie Thompson is running it would appear he opposes limits on wasteful spending and, what is worse, he wants to make everyone not only poor, but dependent on his kind of government dole. When he had a chance as City Controller to make political hay about wasteful spending and poor decisions and municipal extravagance (in what the left keeps reminding everyone is a poor City), all he did was heckle and annoy and make cynical comments and, in the end, do nothing that amounted to constructive auditing or add helpful remarks because he comes from the cynical end of Tammany Hall.

The City and Aquarium are talking about expanding the shark exhibit. Typical New York. Just another example of how rich and extravagant New York politicians think they are and how vulnerable they think the taxpayers are. Wow.

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Email Neil Levine: neillevine3@aol.com

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