Buying Out Tony Mack’s contract is a Win-Win
October 17th, 2012 | 
Author: Our country’s economy and especially its real estate market has been in a slump for 4 years. However, in the next 2 years we’re going to come out of it, no matter who wins the Presidential election.
When that happens, we don’t want Trenton to be left behind.
A normal economy will grow around 2-3% a year. For Trenton with its $1.9B tax base and ~ $70M in property tax revenue that means our revenues could increase $1.4M – $2.1M a year. That’s if we were normal.
The problem is that our Mayor has become a national and regional publicity problem due to his various missteps and most notably his arrest by the FBI on corruption charges. It should be obvious to us that no matter how good the national economy, a developer, potential homeowner or business owner would not want to invest in a city under such leadership.
Tony Mack is a drag on Trenton’s economic recovery.
In addition to the bad reputation he’s given the city, it’s also become apparent that Mack’s administration has no intention of addressing our economic growth. In Mack’s 2 ½ years in office he has not made one proposal to increase our tax base. In his 10/16/2012 budget address to City Council he did not mention ratables or growth in property taxes other than to pitch his proposed $.19 tax hike, which would have a negative impact on economic growth.
Mack is not thinking about revitalization. He’s never mentioned it. There’s never been a plan presented. This city’s budget discussions have never contemplated expenditures related to increasing our tax base and thereby our property taxes, our single largest source of revenue.
If by inaction and negative publicity, he “drags” our economic growth by even one quarter of one percent or $150K per year in growth, we would be better off paying the man to step down. We’d be better off paying Tony Mack his $126,000 a year salary, NOT to show up for work.
For a man facing a difficult legal battle and under severe personal financial distress, this seems a win-win for both Tony Mack and the City of Trenton.
Posted in Real Estate Development, Taxes and Budgets | 
Tags: NJ, ratables, revitalization, tax base, Tony Mack, Trenton
Spoken like a true economist, but an excellent point. You would have to pay a public relations firm far more than $126k to repair the damage Mack’s continued presence in the mayor’s office is doing to the city. More damaging though is, as you point out, the complete lack of a plan for going forward. As a potential Trenton resident I am dying to see something, anything (!) regarding the city’s plan for moving forward. The city has been stuck in limbo for too long.
By the way, did you see the article in the NY Times on the CEO of Zappos’s plan to turn seedy downtown Vegas into a living/working community for creative professionals? Now that kind of big-thinking, public/private partnership is what Trenton could use. And given the number of people I know and I see on various discussion boards looking for affordable, walk-able, diverse and cultured neighborhoods in this part of the state, a similar plan could work in Trenton.
Yes, there are plans to improve communities all over the country. Some are actually working. However, without direction from responsible leadership, or resources anyone can have a vision of a bountiful capitol city. And certainly Trenton has that potential.
I agree that we have had impotent leadership and someone of vision and ability is certainly a requirement. But, where do the resources come from that will entice business and a desire, by home buyers, to live in this community? For, only when you can see that happen, is when you will know that Trenton has turned around.
Is the tax base you speak about enough to substantially support the required services for this city and to also IMPROVE the quality of life, for it’s residents, on such issues as crime, public health, education and taxes? This needs to happen, to even have the opportunity for the revitalization you speak of.
Most of those responsibilities have been taken away from the city to manage and are overseen and run by the State.
Trenton is not like downtown Las Vegas. It has a very different demographic makeup and it is not chartered to function as a resort town. It must not be forgotten (so that it doesn’t continue) that, as a result of very bad leadership, over several decades, this city has been badly hobbled in its’ ability to reinvent itself.
The damage done to this city will not easily be repaired. it will take quite some time and the course will be painful as it may take more than a generation for that to occur.
It is one thing to light a candle in the dark and hope that you can find your way out, it is quite another to know the way out. First, find yourself a qualified leader that everyone can get behind and has only ONE agenda…..a healthy Trenton. Then, the work begins.
I agree with Alan. This isn’t a decline that Mack caused – though the fool has certainly pushed it to new lows. It will take GENERATIONS to recover this city – it took nearly as long to tear it down.
Unfortunately – what that means is that those people will the skill, energy, resources, and networks to actually build up the city (either a single row at a time or though a mayoral presence) needs to ask themselves, “Is this really the best use of my time? Is this the quality of lift I want for the next 10, 20 years?”
After only 6, I’m defeated, blistered, and bitter by this city. I can only imagine how many other people will get fed up and leave for their own sake before any real traction is made.
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