Restler and Federer discuss shul, mikvah plans, MIH options, and community reputation
Restler confirms plans for both a shul and mikvah on site, then presses on MIH option one. Federer prefers mapping all three MIH options for bank financing flexibility but charges below MIH rates in other buildings. Restler insists on option one as precedent, praises Federer's sterling community reputation for helping vulnerable residents, and commits to continuing the MIH conversation. Federer explains the project is driven by the existing synagogue's lack of seating capacity.
And the business that's relocating to New Jersey, they employ a healthy number of people, so they're in a good position.
If we call that business, they're going to say they're very happy and that everything's okay?
Yes, and Mr.
Federer is on the line right now if you wanted to speak to him about it.
Mr.
Federer, have you been in touch with that business owner?
Is he from Lakewood or where is he from?
Yeah, he's from Lakewood.
We actually helped him facilitate the move.
You know, they invested.
A lot of money in the production.
It used to be a bakery.
Right.
And we've helped them a lot with the moving expenses and reproducing all the machinery on that new location.
Okay, so they're happy.
Yes.
Good.
I appreciate it, Mr.
Federer.
That was something I'd been concerned about for a number of years, so I'm very pleased that that was addressed.
I did want to ask,
So the plan is currently for both a shul and a mikvah on site, is that correct?
Yes.
I think the other thing I just wanted to check in on is, are you open if we decide to do,
If we decide to do MIH option one, is that something you're comfortable with?
One versus the other two options?
Yeah, that's right.
I'm sorry, just before you continue, can you just please restate your name for record so that we all know who you are?
Sure.
I'm sorry.
My name is Solomon Federer.
Thank you.
We were looking more to do all three options, not because we are planning to go.
As high as the options.
It's more for, you know, banks, for the banks would like to see.
But, you know, in this neighborhood, we have other buildings that we charge even below the MIH, which is, you know, it's interesting for the city, for a developer in the city, but that's what we try to do.
We have three buildings in the neighborhood that we...
Still have warm bedrooms at the low 2000s.
Well, I understand.
You know, Mr.
Federer, I think that in every single rezoning I've approved, I've insisted on option one.
So I'm not sure that I'm prepared to break precedent because then the next guy who comes along might think that they can bully me.
That was a joke.
But thank you for laughing, William.
William was the only one who laughed.