business.

Herald A lantern 1 July 81

Builders Slam Bill On Condo Tenancy

BANK'AND CAFE may City offlelala Kaltier mitrlrlr Marlnr NrUonal Bank'r nfw branch office at Washington ht amt Waillann Avc . follonlng last Friday's ribbon colling ceremony The Vlctorl.nctyle bonding com strocted In a le* sreelis. Is on the former site of the old Kabafan garage. Adams Head Of CPA Unit

ROSELAND - Robert H Adams (!PA, a resident of Bemley's Point, has been elected president of the Atlantic Pape May Chapter of the New Jer*«y .Society of Cert lin'd.Public Accoun-

tants / ' .

Adams , a partner with.

thp firm of Adams. Swartz and Company, joined the society in 1970 He is a coordinator on the society's committee for continuing professional education in the Atlantic-Cape May-

area

WOODBRIDGE - Ne>v Jersey Builders Association President Geor&e Kohn today called upon the mcmbeiV'Of the Senate to review 6-3028, a bill which gives protected tenacy to senior citizens and . the disabled should their apartments be converted to condominiums Kohn stated that his association has gone on record as 'Supporting measures which would protect seniors of low and moderate income in cases of conversion. The association testified before a special hearing recently held by the governor on this matter. •WE PROPOSED MANY viable steps which would aid these people." Kohn said. One such recommendation he stated, was to set aside a portion of the Casino Revenues to aid

the elderly and disabled in meeting their household costs. This plan yvould. provide money to help this segment * of society to purchase their unija at extremely, low interest rates, without substantially increasing their monthly.housing expense outlay. Kohn said.'. ••I WOULD ALSO like to , point out that New Jersey has the stiffest condominium conversion laws in the country,'Hllowing 4 to 8 years before any tenant is required to move. I am not aware of any evicltions that have taken place as a result’of^ conversion, nor should we expect to see any fdV a number of years, and yet the Assembly moved this bill out of committee amt voted on it without regard (or the far-reaching ramification this legislation will have.

Guarantee Bank Declares its Independence for you in South Jersey

Guarantee Bank is the indt-pi mlcnl bank here to serve >1x1 in South-Jersey. We've been here for over 40 wars. Now a lot of oilier banks are hen 1 loo. None of them offer you more service or ^nVenience thin Guarantee - None of them shaft our commitment to your home town. Consider what they're saying; first National State (the one that bought F.N.B.) says that their first concern is New Jersey. They prove it by bragging about their support of construction of tin Meadowlands and development of Newark Airport Is that where you want your money to go? What about Howard Savings Bank' They say they've been branching out in New Jersey for 124 wars But their roots are in North Jersey. And that’s where your money goes. And then there* ty\C, MAC. MAC. MAC, MAC.... Everywhere? The fact is MAC is mostly in North Jersey and Philadelphia There are 15 convenient'Guarantee Bank George Automatic Tellers to serve you m Atlantic and Cape May Counties, and only two MACs. Some North Jersey hanks try to hide behind a local mask. Like MidUntk Bank, which hides its name under the familiar, local Atlantic National Bank logo. They don't really want you to know the contml of your'money 1 is now headquartered in the NortK

Declare your independence with Guarantee Bank, die hometown bank that puts your money to work for you, where you live. guarantee bank Abnbc car. Finer*™ C«* M«. Cs£ Ms, Co* Flout. ChtWs. Court Houw Ptauc Mammon inn. Mai**. MiBmllr. North Cape May. NortMrU Ocean City Prwinna Stockton Stair Cole*). Rio Grande. Sea bk City. Somen Point. Swrdeahnm. Ventnnr PUia (Sum's ShopRNe). VOm

housing industry has been critically affected by the current economic conditions and uik necessary over-regulation. Everyone agrees that we must make housing more affordable and abundant in this state, both residential and multifamily, and we all agree that the critical shortage of housing has driven the cost of available housing sky-high arid yet the members of the legislature have driven another nail in the coffin. -INSTEAD OF-PASS-ING legislation which would be an incentive to build more housing which would, I believe, relieve much of the burden, particularly in the multifamily housing market, we arc doing everything in our power to prevent those pe&ple in that business frpm running successful businesses.” In 1980 there were orfly 4,500 multifamily units built in this state, compared to 1973 when 20,000 units were built, Kohn stated, and the declinefcannot be attributed soldy-t^ economic conditions. •• NOW. ONE OF the few

rights left to a landlord, the right to sell his property, is being taken ’away by this type of legislation. Because of this legislation becomes law, a landlord can no longer get oat t{om under serious eqdnomic diffiCuUies by converting. Thus, we believe fewer and fewer units will be built,” Kohn said. "The Assemblymen are using a Band-Aid and are now going to tell these people they’ve solved thfelr problems, when in actuality they merely said that it is not the state’s problem, it’s the landlbrd’s problem. This solution will riot get more housing built in New Jersey.” ••FOR MANY OF our homebuying public who are now renting, not.be choice, the only affordable opportunities available are conversions. "We believe this legislaiton is not necessary, considering the stiff laws in this area. But wp. filso agree that New Jersey must make policy decisions to increase building, not drive .those who do so from the market.

OCEAN CITY MAYOR Chester Wimberg and association president Frank Strohm hre flanked by members of the institution's board of directors during ribbon cutting for new branch office of Cape May County Savings and Loan.

S&l' Seeks New Site

CAPE MAY.— The Cape May County Savings and Loan Assn, is scheduled to appear before the local Planning Board 7 p.m. July 2 for a variance to construct a new branch office here on JaCksori St. The association is seeking relief so as to permit paving of almost 30 per cent of the lot at 211-17 Jackson, between the former Layton & Lofts plumbing supply building and the English Shoppe. The hearirig will take place in city hall

auditorium. The savings and loan a few years ago sought a variance to use the former Bell 1 elephone Building at Ocean and Hughes for the new branch building, but was turned down by the board. The old Bell site, which is in a residential area, is to become the new home of the local library. The Jackson St. site is in a area zoned commercial. The association’s present quarters on the mall are small and without offstreet parking.

Bank Addition Request Tabled

At special meeting June 9, the Lower Township Zoning Board of Adjustment tabled a request from Union Trust Company of Wildwood for permission to construct an addition of the hank on Bayshore Rd., North Cape May. The application, which wit) be heard July 7, calls for a 25 x 16 ft. addiUon that will house a vault and safe deposit boxes. IN OTHER business, the ^"Sgntcd Betty LoCasio of Seashore Rd permission to construct a 9 x 8 ft room arid to enclose a 9 x 16 ft.

porch both of which encroach on the rear yard setback. The property is located in a G-B zone. • Approved Joseph and Grace Gattignola's request for permission to construct a 6 x 15 ft. addition to their home on Virginia Ave., Villas. The front yard setback will be 19 ft. rather than the required 25 ft. - Approved plans submitted by Michael Lynch to construct a single-family dwelling on two lots on Spmcewood Ave. that have a total combined frontage of 60 ft. This property is located in an R-3 zone