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Video: How Did Political Boss George Norcross Acquire Waterfront Land in Camden City at Such Low Prices?

Screen Shot 2019-12-26 at 16.0.47
The tower, located on the Camden City waterfront, is owned by George Norcross and two other partners who received a $245 million tax break 
(image courtesy of David L. Lewis/WNYC)

 

CNBNews.net 

CAMDEN CITY, NJ (December 26, 2019)--NJTV NEWS interviewed a reporter from the Philadelphia Inquirer who wrote an investigating article about South Jersey Political Boss George Norcross and his quest to buy up properties along the Camden City waterfront. How did George Norcross obtain acres of land along this prime section of waterfront at prices under the appraised value?

What is known is Norcross and his friends used tens of million in state-approved incentives to obtain the properties.  The Delaware River Port Authority and Camden Redevelopment Agency held interests in one of the properties, which was appraised at $2.3 million in 2015. Public officials agreed to sell it to Liberty for $800,000. After the sale, Liberty gave Norcross and his business partners an option to buy the property — which they eventually did, for $350,000 — or 15 cents on the dollar of the appraised value when it was held by public agencies.

The "Inky" confirmed hearsay that federal prosecutors in Philadelphia are carrying out their own investigation into the controversial New Jersey program. 

Michael Hill,  NJTVonline.org News correspondent talks with Catherine Dunn, one of the lead reporters on the story in the video below.

 

 

video source https://www.njtvonline.org/

 

Related: How power broker George Norcross and friends got waterfront land for cheap

Both the Delaware River Port Authority and Camden Redevelopment Agency held interests in the land, which was appraised at $2.3 million in 2015. Public officials agreed to sell it to Liberty for $800,000. After the sale, Liberty gave Norcross and his business partners an option to buy the property — which they eventually did, for $350,000 — or 15 cents on the dollar of the appraised value when it was held by public agencies.

And while Norcross and his partners aren’t allowed to build on the parking lot for five years, they could develop it by 2023 if they choose.

The series of transactions also underscores the influence and reach of the Mount Laurel-based law firm Parker McCay, led by George Norcross’ brother Philip.  CONTINUE

Related: Taking Down The South Jersey Political Mafia

You may think we live in a state run by democratically-elected officials, but the reality is closer to a system of political corruption that would surprise most Americans. The truth is, the mafia is alive and well in New Jersey and it controls the political machine in the state. This isn’t the Cosa Nostra of the old days, but an even more sinister cabal of powerful men working to consolidate power and enrich themselves at the cost of the taxpayers.

George Norcross has been called the most powerful unelected person in New Jersey. He controls nearly every elected Democrat in South Jersey including party chairs, state senators and  assemblymen. Even if you get elected outside of his control, you will get nowhere in the party. Norcross and his team have done a masterful job of consolidating power in a relatively short period of time; only a few decades. They have insured that you can’t get elected without his support, and if you do, and you don’t play ball, you will be sidelined to political Siberia. Without his endorsement and the cooperation of Senate President Steve Sweeney, you won’t get on any committees. You won’t get resources. You won’t get money for staff. You will be irrelevant.

Consequently, the candidates you find on your ballot have been hand-chosen by Norcross and his political organization. The Democratic Party is beholden to his    CONTINUE

Related: How The Norcross Political Machine Muscled In On Camden City's Prime Real Estate, NJ's Poorest Community

But the Norcross brothers had other ideas. 

The most powerful political family in the state had spent months helping to engineer the tax break law. George E. Norcross III, a prolific Democratic fundraiser and power broker, had championed the idea among lawmakers; his brother Philip Norcross, a lawyer and lobbyist with deep ties to local and state government, wrote parts of the legislation; and a third brother, Donald Norcross, then a state senator and now a member of Congress, had co-sponsored it. Once the law passed, the Norcrosses’ allies, business partners and clients took advantage. 

 

published Gloucestercitynews.net December 26, 2019

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