Comments on: Parks lose millions in uncollected payments

By: nohesitation

nohesitation — Tue, 22 Apr 2008 20:30:13 +0000

BillWolfe – hey, great name you got there!
Yes, and you forgot: those monkeys can also drive the car to get there.
Now maybe if the title of my post was “Monetizing state asssets via market valuation of easement cash flows” or somesuch, the front office Wall Street types in the Corzien camp would sit up and listen.
BTW

By: nohesitation

nohesitation — Tue, 22 Apr 2008 18:57:17 +0000

ThomasReid – hint: the revenue data is found in a spreadsheet in this link to a DEP memo:
See the lease arrangements at one state park (see:http://www.peer.org/docs/nj/08_21_4_lease_problems_profile.pdf

By: nohesitation

nohesitation — Tue, 22 Apr 2008 18:50:32 +0000

ThomasReid – in case you don’t get it – the DEP Office of Leases adn Concesions has SYSTEMIC problems.
Do you know how many acres and easements there are across state lands in the entire state?
Neitehr does DEP, who is charged with collecting the revenue.
This kind of mismanagement should outrage everyone.

By: nohesitation

nohesitation — Tue, 22 Apr 2008 18:48:56 +0000

ThomasReid – what is your point?
Did you read the internal DEP memo’s about the value of the leases at D&R Canal State Park?
That’s where the big money is, because revenues from easements across state lands are undervalued (negotiated decades ago) and some revenues are not even collected.
This is where the big money is. The Audit you cite is chump change. I only posted this to document one small part of the problem.

By: ThomasReid

ThomasReid — Tue, 22 Apr 2008 18:43:48 +0000

From your first link:
“The cost to operate the 125 berths at Forked River averaged $3,210 per berth.Leonardo’s average cost per berth was $2,715 for its 175 berths. Annual revenues at Forked River averaged $175,000 while revenues earned at Leonardo averaged $350,000 during the audit period. This results in a net deficit for the state-operated marinas exceeding $300,000 per year which must be funded through agency appropriations.
We compared the per berth operating costs with those of the private vendor leasing the 640 berths at Senator Frank S. Farley State Marina and determined they are operating the facility for an average of $970 per berth. “