From the Times Ledger:
Following the advice of its Land Use Committee, Community Board 12 voted to allow a developer extra time to complete its projects, which had fallen behind schedule because of difficulty in getting financial help from banks.
The economy “makes it difficult for developers to complete their projects on time,” said CB 12 Land Use Committee Chairman Cardinal Sandiford.
Sandiford said the Land Use Committee recommended the board side with the developers.
Gouranga C. Kundu, who is trying to develop residential properties at 87-12 175th St. and 88-04 175th St. said a “financial crisis” led him to come before the board.
“We are trying hard to get the financing from the banks,” Kundu said, noting he wanted an additional two years to complete work on the homes.
A representative for the other developer seeking an extension to build four three-family units on Lauren Court and 175th Street was not present at the meeting.
Adam Rothkrug, the attorney for the developer of the Lauren Court construction, said Friday his client had all the financing he needed, but construction has stalled because of “pending court actions.”
“Our delay has been mostly due to a litigious neighbor,” Rothkrug said. “The neighbors claimed that we damaged their properties [during construction]. That’s why we need more time. We would like to finish the buildings and nobody wants to see half-construction.”
Rothkrug said all but one foundation has been constructed for the properties.
On the 87-12 175th St. building, the board voted 31-1 to allow the extension. It voted 30-2 on the 88-04 175th St. building and 32-0 on the Lauren Court development projects.