Afailure to plan is a plan to failure. Case in point: the redevelopment of East Brunswick's Golden Triangle.

Redevelopment of the Golden Triangle area was to be the cornerstone of the longterm economic viability of East Brunswick. I was in favor of redevelopment when the Township Council approved Mayor William Neary's redevelopment plan, and I remain a supporter of the concept of redevelopment.

Redevelopment makes great economic sense because underutilization of the Golden Triangle has meant that East Brunswick has not received the amount of tax revenues from the property that it might have. Projections indicate a growth in tax ratables of more than $3 million after redevelopment is completed. Additionally, under the redevelopment agreement with Toll Brothers, the township received more than $30 million. The payments starting in 2004 and ending in 2010 have helped and will continue to help keep our taxes from rising at a faster rate than they have.

That's where the good news ends. The problem, quite frankly, is that this redevelopment plan has been poorly managed.

Pursuant to the redevelopment plan, come 2011 there will be no additional revenue from the sale. That lack of revenue, coupled with the fact that the project is undeniably behind schedule, means that a significant revenue gap will be felt commencing in 2011 since no new substantial tax ratables will be received by the township. The longer Mayor Neary refuses to require implementation of the redevelopment plan by Toll Brothers, the greater the revenue gap and the more the financial burden will fall on our taxpayers.

Provisions in the agreement that require actions on the part of the township and Toll Brothers by certain dates have been largely ignored by the mayor. There are always events beyond the control of either party, and thus dates often need to be revised, but the timetable set forth in the agreement is nothing more than literary fiction. Unfortunately, the mayor has allowed Toll Brothers to pen new chapter after new chapter in avoidance of the agreement.

When the agreement was signed, the timetable represented a critically important commitment on the part of the redeveloper to the township. However, the mayor has not required Toll Brothers to follow those dates and has repeatedly stated that all is moving forward smoothly. I could not disagree more with that assessment.

The economics don't lie. Having graduated from the Wharton School of Finance, I need only review the data regarding the housing and mortgage markets and follow the daily turmoil both industries are currently undergoing. Some economists are predicting the housing market will need at least two additional years before the market trend moves more positively.

Simple economics indicates that the timetable most profitable to Toll Brothers may not be the timetable that works best for East Brunswick residents, the people I serve. Simply put, what would motivate Toll Brothers to start construction when the company believes it would be difficult to sell residential housing units at this time? Robert Toll, chairman of Toll Brothers, recently stated that reducing newhome production until the current oversupply is absorbed is a "key step in bringing housing markets back into equilibrium."

Toll Brothers is in the business of making money for its shareholders, which it is certainly entitled to do. But lest we forget, Toll Brothers is not in the business of protecting the interests of the taxpayers of East Brunswick; I am.

I have asked Mayor Neary many questions that would provide some understanding of what plans Toll Brothers has for redevelopment. Those questions remain unanswered for well over a month as the mayor has instead offered up unsubstantiated assurances that all is going well. Thus, I have argued not to move forward with the construction of the new parking garage until answers are received and a better understanding of when redevelopment will be commenced is known. The new garage costs more than $30 million, but the financial pro forma upon which its financing is based is already incorrect, as assumptions of receiving future tax ratables may be unattainable by the date needed. If the numbers don't add up, the only recourse for the mayor will be to place additional financial burdens on our East Brunswick commuters by having to raise their parking rates. I am certainly not in support of raising those rates.

I urge the mayor to immediately and objectively face reality and look at the progress - or lack thereof - of redevelopment at the Golden Triangle. The mayor must take that action now before additional dollars are committed, and, especially, before ground is broken for the parking garage.

At present, much has changed with this redevelopment project, especially the economics. The Golden Triangle redevelopment is central to the continued economic viability of East Brunswick. It's time either for immediate, improved planning on the mayor's part or the move to a Plan B.

David Stahl is a member of the East Brunswick Township Council