The Referendum Ordinance causes the quality of housing stock to plummet as property owners are forced to reduce improvements
When long-term renters move out of apartments, apartments are often substantially renovated and new renters negotiate rents for those apartments. Without the prospect of rent increases to cover the cost of improvements, these units will be rented as-is, reducing the choices of incoming renters to only have brand new or aged apartments to choose from. The lack of vacancy decontrol will prevent needed improvements to the City’s aging housing stock. It forces all renters to accept compromised reinvestment and maintenance when there has not even been a market study to determine how many renters have rent insecurity.
The Referendum will increase the City’s budget
The Ordinance bridges into the operations of the Building Department as a means of punishing property owners for issues that are separately and adequately regulated. This only adds cost and delays to Departments that are running on threadbare budgets; and it adds an entirely new governmental department whose staffing and legal fees will be at least $200,000 per year.
The Referendum Ordinance means Homeowners will pay more taxes
Transfer of Tax Burden to Single Family Homeowners. Study after study has demonstrated that the proven effect of rent control laws is to transfer property tax burdens from multi-family to single-family homeowners.
The Referendum Ordinance will discourage visitors and tourists from coming to our City
More regulation will discourage investment in Asbury Park. Developers will look elsewhere to build tourism focused properties. As these other properties are established outside of Asbury Park, potential visitors will spend their tourism dollars elsewhere, effectively cutting off a vital economic source to the community.
The Referendum Ordinance causes ALL businesses to suffer
Asbury Park’s economy depends on tourism. These visitors are vital to the health of small businesses. If developers and property owners are discouraged from investing in the town because of excessive regulation – those investors will develop in other Jersey Shore locations, luring tourists away from Asbury Park, and along with it, the money they would have spent at Asbury Park’s small businesses.
Paid for by Protect Asbury Park: 1410 Main St, Asbury Park, NJ 07712