Today, July 13, residents of Moorestown received a letter from the President of the group (PREIT) that owns the Moorestown Mall. There are several misstatements in the letter:
The liquor referendum was voted down by an overwhelming majority after the liquor proponents placed the referendum on the ballot at the last minute. The opposition were the ones that had difficulty getting the message out.
The $4 million they refer to in the letter as immediate income represents the one time sale of several licenses at top market value. If a license went for $1 million, it would only save the average household about $65 for that year only!
Liquor sales CAN NOT be limited only to the mall. But if they could, as the mall stipulates, the mall would be the only bidder on the liquor licenses. Since they often appeal their real estate taxes, it is unlikely they would pay the towns asking price for a license
Future income is only derived from license renewal fees which are about $2,500 per license (not $500,000). The town does not get a cut of the sales.
Surrounding towns with malls that offer liquor sales, such as Cherry Hill, actually have higher taxes for the same sized house as Moorestown. And other local malls, like Echelon, that have failed, have done so IN SPITE of offering liquor.
In its letter PREIT purports to be looking out for the beleaguered Moorestown taxpayer, when they are really only looking out for their own bottom line. For more info go to noliquorlicenses.com.
Maryann Fallows
