Perth Amboy evening news., 1923-02-09

ties for those factories which re-
auired them. Perth Amboy needs
and must have industries in order
TO grow.
This proposed plan provides one
! additional bridge over the Central
railroad at a time when III ex-
pense will be a minimum, and there
would be serious difficulty of secur-
ing this Improvement at any future
time. The need for the bridge will
be felt more and more from year
to year.
The plan involves moderate ply
steal costs. 1t fits in with the pro-
posed bridge approach grade on
iConvery place and involves con-
struction over level land without ex-
| cessive cost for grading of fill.
1t Is also economical in operation.
Traffic control on F'ayette street, for
example, will be a comparatively
simple matter, since 1t would be a
long straight thoroughfare, COM
paratively free from business es-
Establishments. Parking could be
prohibited or limited, and several
| Of the cross streets could be closed
| at certain hours on Saturdays n
sundays.
It will create values. Fayette
| street, even east of the Central rail-
road, is at present occupied only
over about half its frontage, and for
the equivalent OF only one-story
height. for business purposes. Prop
| erty values are at some points only
| one-tenth as high as at correspond
ling points on Smith street. West of
the railroad, values are compare
tiveI.. low on both streets, but those
| on Smith street are five times those
! on Fayette street.
| Cost and Consequences of Fayette
Street Extension
The AK burden in most cities is
heavy, and economy in expenditure
is the current watchword In munich
pal administration. Perth Amboy Is
no exception to this rule. The pro-
| gram herein proposed Is a program
for investment, not for mere added
expenditure. It will increase the
city's wealth. 1t will bring more
| money to Perth Amboy than it will
take from it. 1t will tighten. rather
| than add to, municipal burdens;
| while at the same time improving
the city at a point where improve
ment is urgently needed. The follow.
ing summary, expressed solely from
the real estate point of view, will in
troduce the discussion:
Summary of results:
Cost Of land to be acquired for
street opening, $22,500; of bridge
(Fayette street over Central rail-
road), 100000; of grading and paw
ing Fayette street extension, $4,000;
of curbs, cutters and sidewalks. Fay
cite street, $4,000; total cost, $780,
500.
Increase of ratables, street opening
ONLY. north of Fayette street extern
sion, $20,340 (a); south of Fayette
street extension. $24,171 Gay; along
Fayette street west of Central rail-
road, $38,500 OBJ; along Fayette
street EXTENSION, curbs and sidewalks,
$21, 900 Co.; local increase, total,
$104,O11; corresponding local in
crease in actual values, estimated
$195,000.
Local assessments proposed: Fay
cite street extension, $S0,929 (a);
Fayette street west of Central rail-
road, $3S,500 OBJ; curbs and side
walks, $21,0 600 Co; total, $14O,429;
city's share of expenditure, $52,S71;
total cost, as above, $192,S00.
Proposed funded debt for the i'm
provement, ~$52,371; interest % per
cent, maintenance 6 per cent? and
amortization a per cent? basis, So
446.58; revenue from $104,O1l OF To-
/ CaJlN llCISdoSu IdlCbACo N1sS N0@
rate), $4,545.2S; difference to be
made up by general or intangible
benefits, $901.30.
(Note: Items designated as (a),
OBJ and Co are respectively compar-
abIe).
There has been a general practice
in Perth Amboy of assessing locally
for street paving to the extent OF
two-thirds the cost, divided equally
between the two sides of the street
benefited. Exclusive of the bridge,
and of curbs, cutters and sidewalks,
the total cost of the proposed i'm
provement is Sill, 500. The frontage
of Fayette street, from the Central
Railroad to it's present termination
is 48 per cent of the total frontage.
This percentage of the total cost is
S53,5O0. T~wo-thirds of this is $780,
500. Thus the local assessment
based on prospective appreciation
(S3S,500) is approximately n har-
mony with that which would result
from an application of the present
rule. 1t is true hat the extended
portion of the street, through the
Pardee tract will require a heavier
ratio of local to general assessment
than 2 to 1. This Is offset by h
present differentiation of hat tract
as compared with adjoining lot prop
erty.
Valuations, Details and Discussion
For the opening of a street &c feet
wide extending from the present end
of Fayette street, just west of Gift
ford street, to Convery place, the
assessed valuations which would be
lost are as follows:
Q Houses Kirkland Pl. ......$Z,20O
6 lots at kirkland Pl. ....... 1,20O
Clifford st. to Kirkland Pl
at $1,450 per acre ......... sS7
| Kirkland Pl. to Grove Hill Rd.
at $4,000 per acre .......: 2,266
| Grove Hill Rd. to Convery Pl.
at $500 per acre ........ 1880
$S,242
This contemplated Improvement
should most directly influence local
| property values over the area bound
| ed approximately by the Lehigh
Valley Railroad, Convery Place, the
rear line of lots 100 feet deep 'front.'
| ing on the north side of Smith street,
Goodwin street and the Lehigh VAL
lev switch which crosses at the pres
ent termination of Fayette street
| Even as a factory site this area needs
development by public streets or
private ways. For normal industrial
use on an average scale of magni-