Straub Accuses Atlantic City of Power Play Against Him

Straub from Revel accuses Atlantic City officials of using “power play” against him. It’s undercutting his plans to reopen Revel. Last week, City Council named M & J at Melrose LLC the official redeveloper of land where Revel is.

According to The Press of Atlantic City, official re-developers can receive long-term tax abatement from Atlantic City. They can also grab city property without public bidding, and can team up with Atlantic City to use eminent domain to take any property within that area.

Council President Gilliam upset that Revel hasn’t reopened. By naming a South Inlet redeveloper, the city can use eminent domain if it wants. This might quicken Straub to re-open Revel asap……or sell…..or go to court for months….if not years.

Straub lawyers wondered why a redeveloper was named…for land consisting of Revel and 70 other vacant lots in the area, owned by Straub and his company; Polo North. Is Atlantic City unlawfully attempting to exercise a power play over Polo North? This is hurting Straub’s ability to contract with potential tenants of Revel. The threat of eminent domain will lead to legal battle, so says Straub.

Glenn Straub recently hand-delivered a $4.3 million check to City Hall as payment for third and fourth quarter property taxes. And just last week, his compan said it was settling the war over utility fees by buying the ACR power plant across the street from the Revel building.

According to The Press of Atlantic City, the company “is prepared to proceed with its efforts to reopen…[Revel], but cannot do so until the Polo North properties are no longer within the area designated for redevelopment,” according to the letter.

M & J is owned by Joseph Jingoli Jr. and Jack Morris. Jingoli runs a construction firm. Jingoli also built the power plant used by Revel.

According to The Press of Atlantic City, M & J has not submitted a South Inlet redevelopment plan to the city. Once submitted, CRDA / Casino Reinvestment Development Authority would have to OK. The CRDA regulates land use and zoning in the city’s Tourism District.

The city did not send out an RFP; request for proposal. M & J was just named the redeveloper, so says Councilman Marty Small.

Read More in Press of AC

Erin O’Neill | NJ Advance Media for Sep 8, 2015

 Worth noting here that ACR Energy is a subsidiary of Energenic LLC (which is a joint venture between Marina Energy and DCO Energy) Marina Energy = South Jersey Industries. And three N.J. residents — Frank DiCola, Michael Jingoli, Joseph Jingoli Jr. — are members of DCO Energy.


The post Straub Accuses Atlantic City of Power Play Against Him appeared first on Atlantic City Prime Time.

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