This last year was simply ideal circumstances. Commercial real estate values generally held, interest rates are compelling and the [loan] maturity cycle is growing.

The financial environment, ... is significantly different than it was in 1999, when interest rates were higher, and property values in Manhattan have increased substantially over that time.

The big question relates to the valuation of commercial real estate.

That spread is probably a record low for that much leverage.

We suggest to you that what the applicant is proposing would increase adjoining property values. You have better, more attractive units landscaped as you can require in a conditional use permit. This will attract better tenants than are currently there.

I have the unique ability to be on the forefront to deal with issues such as traditional values; the Second Amendment in protecting gun rights and enforcing laws such as illegal immigration. I'll have a position to influence the selection of federal judges.