Special Meeting Does Little to Allay Community Concerns

February 19, 2026. This evening, residents and nonresidents flooded a nearly full Asbury Park High School Auditorium with one thing on their mind – the future of the Asbury Park Waterfront and its’ iconic landmarks such as the casino and carousel buildings.

This special City Council meeting was held in a different venue to accommodate the expected large crowd. In attendance were Mayor John Moor, Deputy Mayor Amy Quinn, Council members Angela Ahbez-Anderson, Eileen Chapman, Yvonne Clayton, along with other city officials. And maybe most importantly – Asbury Park Waterfront development attorney Joseph J. Maraziti, Jr. was in attendance.

On January 28th, the City Council unanimously authorized Maraziti to issue a notice of default to parent company Madison Marquette for failure to meet its’ obligation under the Subsequent Developer Agreement they entered in 2010. Since then, City Attorney Kevin Starkey has instructed the governing body to refrain from commenting, citing the potential of litigation. This has frustrated residents concerned about the city’s future and seeking more information.

On February 6th, Madison Marquette addressed the building controversy saying in part, “Rumors swirled. Specters of the implosion of the entire Casino Building suddenly appeared all over social media… The breezeway will be repaired and preserved. As soon as the repairs are completed, the outdoor pathway to Ocean Grove will be reopened.”

That announcement did little to allay the concerns of the community. The next day, dozens rallied in front of the breezeway on one of the coldest days of the winter to make their voices heard. And on February 10th, the City Council announced tonight’s special meeting.

If the tenor of the crowd and public comment was any indication, the special meeting also did little to allay the concerns of the community. The crowd at times was intractable, with the Mayor struggling to prevent audience members from shouting and interrupting during the presentation and public comment. Frustration seemed to peak as audience members struggled to hear the presentation early in the meeting. One audience member was given a warning that further interruption would lead to his ejection.

For the most part though, the audience studiously listened to Maraziti as he explained the documents governing redevelopment in the Waterfront, notably: the Waterfront Redevelopment Plan from 2002, the agreement with Asbury Partners LLC from 2002, the Historic Preservation Agreement, the Coastal Area Facility Review Act (CAFRA), and the agreement with Madison Asbury Retail LLC (MAR) signed in 2010, which is a subsidiary of Madison Marquette.

The Madison Asbury Retail (MAR) agreement of 2010, as Maraziti explained, likely replaces and supersedes the rights that Asbury Park had under the 2002 agreement. One frequent public commenter, Neptune based attorney Thomas De Seno, Esq. seems to disagree and believes that the Casino still falls under the 2002 agreement. His assertion is that because the Casino is not explicitly mentioned in the 2010 agreement with Madison Marquette, it still is governed by the Asbury Partners agreement of 2002 and would ostensibly enable the city to file an abandonment claim against Madison Asbury Retail.

The governing body and its’ redevelopment counsel do not agree with this assertion, but have agreed to have a third party review the competing arguments and reach a decision.

If that option is not viable, Maraziti reviewed the four options available to the city: Demolition/Eminent Domain, Litigation, and supporting MAR as it pursues tax credits from the Economic Development Authority.

MAR is currently pursuing a $75 million tax credit from the Cultural Arts Facilities Expansion Program and an $8 million tax credit from the State Historic Preservation Program. Mayor Moor encouraged audience members to reach out to the Governor’s office and our Legislative District 11 legislators (Gopal, Peterpaul & Donlon) to voice their support. The governing body voiced their own support for those tax credits via a resolution at last nights meeting.

Maraziti also addressed some frequently asked questions. Among other points, he noted:

• Any agreements, including that with MAR, are in force after the redevelopment plan expires.
• MAR currently pays $921,000 in taxes to Asbury Park annually
• If Asbury Park pursues litigation, they must bear their expenses, even if successful. This cost would be passed on to taxpayers.
• If Asbury Park pursues Eminent Domain, they must purchase the properties at fair market value. This once again is a cost that would be passed on to taxpayers.
• Per the CAFRA permit, condominiums nor commercial space would be allowed where Convention Hall stands

Many audience members spoke during public comment. Some represented themselves, while others represented organizations. One commenter spoke on behalf of the group “Save Asbury’s History.” They announced that an anonymous donor has offered $100,000 in support of starting the Eminent Domain process and that this donor will match up to $100,000 in additional donations from members of the public.

Mayor Moor expressed serious reservations about litigation, citing the potential to bankrupt the town, particularly if unsuccessful. That did not seem to sway some public commenters who voiced strong support for litigation.

On a positive note, Mayor Moor expressed his view that after many meetings with Madison Asbury Retail, he feels momentum is being made towards an agreement with respect to spending the $13 million grant allocated for the Paramount Theatre repair and renovation. He stated his hope that an agreement for construction could be reached and voted upon at next week’s Council meeting. If that hope is realized, construction could begin in March.

The next Asbury Park City Council meeting is scheduled for Wednesday, Feb. 25, at 6 p.m. at City Hall.