Save Ardmore Coaltiion Remains Skeptical of the Benefits for Ardmore of the Cricket Project Lot

Welcome Lower Merion residents!

We're glad you stopped by. Go ahead and register for a free account to get the benefits of being a member, including:
  • Access to all of our posts and comments
  • Your own profile including an avatar, buddy lists, and other social networking features
  • The ability to send private messages to other users on this site
  • The ability to chat and interact with other citizens and voters in and around Lower Merion.
Creating an account is easy. Register now!

(Don't live in Lower Merion? That's okay. We won't hold it aginst you.)
Tags:
dmuth's picture
Offline
Last seen: 2 weeks 5 days ago
Joined: 2005-09-13 :35
Posts:

Letter to the Editor: Main Line Times August 23, 2015

Carl Dranoff can take a jack hammer to the black top at the Cricket Parking Lot tomorrow and break ground for the construction of One Ardmore Place. The Save Ardmore Coalition remains skeptical of the benefits of this project but accepts that Mr. Dranoff will be obtaining the deed to the property, after the Haws Terrace lawsuit settlement is finalized and approved, in a deal, we believe worthy of Donald Trump.

The Township sold the Cricket Parking Lot for $2 million but Mr. Dranoff, with a few exceptions, has up to 20 years to pay for it. Put simply, he obtained the Cricket Parking Lot without a down payment to the Township. Additionally, he obtained a commitment that $10.5 million of the $55 million project would be financed with RACP funds originally allocated for the redevelopment of the Ardmore Train Station. These terms were negotiated and approved by the Lower Merion Board of Commissioners.

So yes, Mr. Dranoff can begin construction of his building. And surely, a man of his reputation and stature can easily obtain additional financing from commercial banks or private investors. However, he should not be permitted to do it with money approved by the Pennsylvania General Assembly for improvements to he Ardmore Train Station.

The Save Ardmore Coalition is dedicated to the revitalization of Ardmore's business district based on community input, consensus building, and sound and comprehensive planning. We went to court to prevent the misappropriation of RACP funds set aside for the redevelopment of the Ardmore Train Station, because we believe that this proposal remains the best first step towards a better Ardmore, and without RACP funds we will not see a modernized train station.

3.42857
Average: 3.4 (7 votes)
Your rating: None