Comments by Steven Hyman
May 21, 2008
I agree that the City probably doesn't have $41 million, which by the way, would have mushroomed to close to $50 million with several years of interest added.
Surely to satisfy this amount, most of the City's real estate holdings would have to be liquidated including City Hall, Community Center and even its acres of land by the Coastal Trail.
To me, that's not a winning hand. The City had to settle.
May 20, 2008
What bears repeating is that HMB was in a poor bargaining position. Its options were either appeal with horrible consequences from a growing debt they couldn't repay or settle. They chose the wiser tact by going for a sure thing and an amount significantly below the judgment (56%). But when you try and settle, you also can't say we still want to be able to appeal too. When you look at the results of the settlement, you can see who had the upper hand and the deep pockets to slug it out for many more…
May 20, 2008
Here's a first, a complaint about legal bills! I guess it was ok to spend $5 million on Beachwood and who knows how many more millions on Pacific Ridge and N Wavecrest.
Of course, Ken was all in favor of happily spending untold monies on a dubious appeal that would have put this town in much worse shape.
Anyway should we lucky enough to get AB 1991 passed, the money spent on litigation is still a lot less than paying $18 million for that overpriced field of weeds.
May 19, 2008
Hey whats a few million dollars more among friends. Just think how much money has been wasted on all this lawyering. Maybe we should put a sign in front of Beachwood with one of those markings that measures money spent with a catchy headline like What's Beachwood cost HMB? And if we can do it in an artistic eco-friendly manner, it may cast a soft shadow over the weeds turning them wetlands. This is something that has been lost on all the blind speeders. With the way seems to work out, maybe we can…
May 18, 2008
I'll try and slow down next time so I can better take in that special Kodak moment. The bright red color on the Stop the Traffic Light sign must be blurring my vision to where I can't see wetlands. It makes me just see weeds.
Perhaps you could help us all see what you think we're missing by changing the color on the sign to traffic light red. Then I'll be able to see it your way. Hopefully that change in paint color won't require too many permits or too much time.
May 18, 2008
If my carrying about the town I've lived in for over 25 years makes me selfish, so be it. I haven't been pleased with the constant stalling of projects for too long and the wasteful spending of millions of dollars of money. We all knew this day would come. We just didn't know the lawsuit that do the City in. Anyway, 1991 only applies to HMB. I do agree that it could be the future blueprint, if altered, to where it could work elsewhere. But I'm less concerned with that maybe then finding $18 million.…
May 18, 2008
From a resident of HMB, I'm more concerned about my town. This bill has been crafted to only apply to HMB. Could it be modified or a future road map for other people who's rights have been abused? Sure. And that's the price for picking silly fights. Maybe HMB's legacy will be a property right's victory. This is what happens when you put you your fate in other hands. Now we ae at the mercy of politicians. We'll see which side does the best arm twisting. This, sad to say, is the battle that never should…
May 18, 2008
Ken, We've covered this topic many times before and see things quite differently. I think the City Council did the right thing by settling and trying to put an end to this long running budget busting nightmare. Your option was to appeal endlessly and if unsuccessful, file bankruptcy leaving the City with a potential $50 million debt. Its precisely these attitudes that got us into this mess. And this cycle of endless spending has to stop. Too many millions of dollars have been wasted over the past…
May 17, 2008
Its going to be fascinating to see how Beachwood plays out. This could end up being a significant turning point in which some of the laws are scaled back in terms of reality. There's nothing great about saving Beachwood that warrants all this money and time. But now that Walker's verdict is upheld and AB 1991 is moving its way through the Capitol, things might get a little more rationale. I really sense a change in the public's attitude and perhaps we will see more compromise in the future so that…
May 15, 2008
There are many questions that need to be asked before an accurate value can be put on the value of Beachwood. Whoever buys this parcel will make their own assessments as to how many homes will be permitted, that is assuming it is sold to another person. I would assume that someone would assume the worst (like 19 homes) and hope they can squeeze out more. But that's a crap shoot. Of course, the real question is who in their right mind would want to buy this troublesome property with its litigious…
May 14, 2008
I have been telling people and writing in the Review that I think this has been a buyers' market since late 2005 when things started to cool. The statistics bear that out. On the Coast, you have inventory at near record levels, sales volume has been declining since 2004 (with 2008 turning out to be worse than 2007), sellers are realistic, selling time is increasing and mortgage rates are declining. There are even a growing number of distressed sales, mostly at the low end, cause of lax lending with…
May 13, 2008
I'm always open to learning new things and understanding different view points. I'll probably take you up on this. I may just have to heavy up on my blood pressure med so I keep my cool. And I'm glad to hear that Jonathan's experience in getting a building permit went smoothly. You are a lucky man. I have heard and seen too many instances that were quite different. And then you add to that some of the cases I have heard from other Realtors, gives me the views I have. It now takes almost 1 year to…
May 12, 2008
Everybody's entitled to their opinion but you don't have a clue as to what I know.
Suffice it to say, having lived here for 25 years and being involved in real estate for over 20 years, I have seen how this place has developed. Observing the progression (or stone walling) of many projects gives me the views I have.
Land owners have been relegated to second class citizens here. Hopefully, this is the beginning of a long overdue change.
May 12, 2008
I unfortunately have seen too many projects endlessly appealed to the Coastal Commission which perhaps explains my views. I resent that things get dragged out for years, if not decades. It would be great if the loser had to pay the owner's expenses like attorney fees and interest. That would cut down on the frivolous appeals that go on here. The only positive thing I can say about the judgment and settlement is that this is the beginning of a more moderate approach to development. Maybe the staggering…
May 12, 2008
Its a sad commentary about doing business on the Coast that people feel the need to get permit consultants and attorneys to try and get things accomplished in a reasonable time period. The permit process for both the County and City have gotten out of hand and the process has become abusive, expensive and takes too long. Its critical for large projects to hire these consultants. Unfortunately, the little person who just wants to build their dream house doesn't have the resources to hire these people…
May 10, 2008
Snappy headlines and lead in sentences are designed to draw readers in to an article. I do this a lot writing on a relatively dry subject matter. In fact, I spend a lot of time thinking about this and the closing line. I'm always gratified when my lines are used as written. I think the Milk and Wildlife people were mentioned because it shows the efforts taken to kill the bill by people who have nothing to do with it or don't live anywhere near HMB. These comments do more harm than good because everybody…
May 07, 2008
Really don't know enough about the City's expenditure on Police to voice an opinion other than anything that represents such a large percent of the budget showed be carefully examined. There are also other areas that can stand some cutbacks. Hopefully a less litigious City Council will allow us to trim that budget item significantly without causing any harm except to the outside lawyers. And lets not forget that the City has millions of dollars of real estate that can be sold. Cities do this all…
May 05, 2008
I bet the total cost will be closer to $30 million when you add in some other costs. Who knows how much of the City's time and expenses with staff, experts has piled up over the past 10+ years. And we are only talking about Beachwood. Go add to that monies spent on N Wavecrest and Pacific Ridge and you are really talking about some serious money. The next few years are going to be so interesting watching this play out. Ken, you Kevin and I will become such good buddies as this drama unfolds. We actually…
May 05, 2008
If the bill fails, we'll see where the City finds the $18 million. That's the $18 million question that hasn't been answered yet.
May 05, 2008
The City of HMB is in a tough spot with poor options. One is bad and the other is worse. But that's the price you pay when you litigate things to death. And the City lost. Despite the popular opinion here, settling was the smart choice. And now the Judge's decision is settled law. Hopefully now other cities will learn from our mistakes and tread more carefully or they too can stare down the barrel of choking judgments. It will be interesting to see how this plays out with all the lobbying efforts…
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