Jersey City in a state appeals court won $2.1 million dollars from Kushner's KABR Group who basically saw some money out there that was defaulted on by the previous owner of the current Bay St. Towers (dba Trump Towers) and started saying it was theirs. Terrence T. McDonald breaks it down better than Johnny:
The city had promised to repay the $2.1 million to Vector Urban Renewal, the original developer, but it kept the cash after Vector defaulted on its mortgage and walked away from the project, according to the Aug. 30 appellate court decision.
Morgan Street, which bought the property in a sheriff's sale in April 2011, argued in court that it inherited the $2.1 million credit the city owed Vector, but the appellate court on Monday ruled against the developers, saying they had no right to be reimbursed for money Vector paid the city.
The decision reverses a lower-court ruling in the developers' favor. A request for comment from Morgan Street's attorney was not immediately returned.
Basically since KABR had made changes to the original plan which means it's then not the same plan and KABR will get nothing and Jersey City rightly pockets $2.1 million. Hands off Johnny's taxpayer money Jared Kushner, that's a bad Jared Kushner!
Also today Jersey City resident Chuck U. Farley won the name the Bay St. Towers (dba Trump Towers) contest. The contest arose when Donald Trump rented out his name on the ugliest building he could find then his trusty Jared in law decided he wanted another ugly-ass building next to daddums' uninspired POS. Chuck named them "Butt" and "Ugly" which is spot on. So Butt and Ugly they are and so they shall be called. The original eyesore is Butt and the new hovel is Ugly, and truer words have never been spoken.
(L to R, Ugly & Butt, Jersey City Desk file photo)
