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Trump says jobs key to approvals.

The seldom modest Donald Trump told a group of owners and builders last week that Riverside South is meeting such wide-spread approval not because of him, but because the project will create jobs. "The reason I'm doing so well -- It's not because of me I can tell you that," he said to a gathering of the Associated Builders & Owners at his own 'Plaza Hotel. "The reason I'm doing so well at City Planning [etc.] is the city needs jobs."

Riverside South and its approval process, Trump said, has become a full-time occupation. And, while he respects all 52 members of the expanded City Council, he said, "It's a lot of people to go visit."

Anticipating his victory at the City Council, Trump admitted that the struggle to make his project a real ity is far from over.

"We have a job that's a fantastic job -- how do you get it financed?"

Parts Greater

Than Sum

Trump once again expressed his dissatisfaction with the lobbying efforts of the real estate industry. As he has told other industry groups in the past, he believes real estate professionals have "the most ineffective lobby" in Washington. The lack of presence with legislators, he suggested, h as promulgated the inequ itable treatment of those in the property field.

"Everyone is tough as hell," he said, "but as a group we're ineffective... We are the ones that really make the country run and people haven't found that out."

The real estate industry, he said,"died" with the passage of the 1986 tax reform and they have not been able to get any relief, especially with passive-loss regulations.

Trump did, however, commend the efforts of the ABO, which makes frequent trips to Albany and Washington.

He said he is seeing somewhat of a resurgenee in confidence, particularly in his own casinos. The country will not pull out of the recession, however, he said, without incentives.

Trump said that Mitchell Lama housing should be brought back. According to Trump housing equals jobs.
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Title Annotation:Donald Trump believes job creation is reason for City Council approval of his Riverside South real estate development project in New York, New York
Publication:Real Estate Weekly
Date:Dec 23, 1992
Previous Article:Industry: Trump plan can happen ... not soon.
Next Article:Owners prepare for porters strike.

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