The Promised Land? An interesting perspective on increased development activity on the North Shore

Whenever I talk to the media and see the final story or video clip, I invariably regret about half of what I said!  Often I wish reporters would write down what I mean, rather than what I say!

That was the case with the following story that appeared in yesterday's North Shore News.  For example, while I was the one who raised the topic of Community Amenity Contributions and how they should be calculated, I wish I had made it clearer that I am not necessarily opposed to paying CAC's, or even the amount.

My concern, and that of most people in the development industry, is with the uncertainty that results from trying to calculate CAC's based on the anticipated 'land lift' following rezoning, rather than a pre-determined amount.  The problem with this approach is that one doesn't know what the CAC will be until well into the design and rezoning process...and as noted, markets change...but the CAC is fixed prior to rezoning.

Developers are also troubled by the fact that these requirements are deemed voluntary requirements. Why? Because there's some question as to whether they are legal!

There were a few other things that I wish I hadn't said, especially since the reporter Jeremy Shepherd was 100% accurate in quoting me!

Here's his story!  http://www.nsnews.com/business/story.html?id=8207630