We may on may 20th with mps staff, provided response to our business term sheet we initiated a frank and aimable discussion with regards to the next steps we ask them to reconsider the length of term more term makes for more uncertainty. They think they will rethink the term of their concession contract, the length of which will increase the prooichlt investment in the project we also asked them to look into other projects. The port service will prepare cost estimates for the bulkhead portions of the site the goal is to finalize these cost estimates by midsummer, then agree to when these improvements have to be made over the term and then who pays. Once these elements are worked out we need to form a better sense of a fair compensation to the port with regards to rent structure while were making progress the staff feels we need to continue to negotiate agree over the summer that would be beneficial to the port and park service. In conclusion want to reiterate, port staff really wants t
Them to issue a letter, finding a project consistent with the public trust. Exhibit d, to your staff report, includes, trust analysis in consultantation with tmg, and land state commission and that further the purpose of the trust or land time use that will be available for water taxi Public Access on the north apron the spraunt use, and now the event use, the publicly oriented event use in parcel c. In closing, the port staff recommended rationale for lease approval includes the following the project meets, the rfp goals of bulkhead restoration rehabilitation use and services and ongoing port revenue today, we believe it balances, appropriately risk and award, this is an old facility there are conditions, risks our partner is making a substantial investment we think there a good balance for both the port and tm g. Through a long term lease like this we will reduce part harbor Fund Obligation with capital backlog, insurance claims, we believe we have come up with interesting, financial
Breaking at 11 00 oclock tonight, news that a struggling Atlantic City does not need. There is talk tonight another cass zen know could be headed foreclosure. Good evening, im chris may. Im jessica dean. Theres talk on the boardwalk the Trump Plaza Hotel and kaseen 93 may shut down. High witness News Reporter Todd Quinones is live in Atlantic City with the details. Todd . Reporter jessica, right now, we are still waiting to hear back directly from officials here at trump plaza to confirm what in fact worry hearing tonight is that were being told that notices to employees may be sent out as early as monday. Ive been back and forth between being depressed and angry all day. Reporter new jersey state senator and former Atlantic City mayor jim whelan tells me credible sources are telling him come september, unless a buyer steps in or if theres some kind of dramatic financial change, trump plaza will be shutting down and laying off roughly 1,000 employees. Id love to stand here and tell peo
Todd . Reporter jessica, right now, we are still waiting to hear back directly from officials here at trump plaza to confirm what in fact worry hearing tonight is that were being told that notices to employees may be sent out as early as monday. Ive been back and forth between being depressed and angry all day. Reporter new jersey state senator and former Atlantic City mayor jim whelan tells me credible sources are telling him come september, unless a buyer steps in or if theres some kind of dramatic financial change, trump plaza will be shutting down and laying off roughly 1,000 employees. Id love to stand here and tell people particularly the employees dont worry, well fight, well safe your jobs. Id be lying any way you cut it its not good day for Atlantic City and not good news for our economy. Reporter he indicates the closing of trump plaza would follow along with down turn for Atlantic City cass soon notice since pennsylvania and other nearby states legalized gambling. Roger gros
Double act in the european elite is used a speech at the World Economic forum to call for the rebirth of multilateralism and a stronger europe and had an humphrey in davos and ill have more coming up. Also happening in this hour because incursion into syria im cursed steps up the pressure and its five clear Kurdish Militias away from to its border with syria president heard about says he will extend the offensive. Look at the human cost of jihad this daughter left home to join the Islamic State you harvests for years on how mother in chechnya fears shell never return. Acute water a strong grip south africas kc region has been no rain now for more than two years and none is forecast for months. Until go welcome to the program. Europe has taken center stage at the swiss alps today with speeches from the continents heavyweights as i went back and spoke earlier in the day but it was felt as Emmanuel Mark who had the headline slot it told the World Economic forum the globalization how to en