Ed Keating of Euston Road, a member of the executive committee of the Committee to Save St. Paul's, told trustees at the Feb. 7 board meeting, "We have nothing against AvalonBay itself. But we have to wonder whether the course you are about to undertake is truly in the best interest of the village, or whether it is simply a deal that's good for AvalonBay and good for certain other companies that I will mention."

Keating referenced information he said committee members discovered about Mayor's Committee on St. Paul's Chairman John Mauk's employer, CB Richard Ellis, which, he added, is supported by "reputable documentation."

"Did you know that Mr. Mauk's employer, CB Richard Ellis, has a well-publicized history of brokering the sale of AvalonBay properties, typically a few years after AvalonBay completes construction of a given development? Did you know that an affiliate of CB Richard Ellis, known as CB Richard Ellis Global Real Estate Securities, owns nearly 300,000 shares of AvalonBay stock, an investment valued at more than $28 million? Did you know that more than 200,000 of those shares were acquired during calendar year 2007 during the very time period when the AvalonBay proposal had been under consideration?

Did you know that this investment in AvalonBay stock represents nearly 12 percent of its stock holdings in S&P 500 companies? Did you know that AvalonBay filed an 8K statement with the SEC claiming it had an option for 'development rights' in Garden City for an 'estimated number of 160 homes?'" he asked.

Keating continued, "Mr. Mauk have you told your fellow trustees about any of these facts? Is it just a coincidence that at the very same time you have been pushing for an AvalonBay development, an affiliate of your employer has been buying AvalonBay shares by the bushel? Does AvalonBay know something we don't about the estimated size of the planned development? ... The public deserves answers and full disclosure by Mr. Mauk. In view of these ties between AvalonBay and Mr. Mauk's employer and its affiliate, I really don't see how he can lead this board's St. Paul's Committee."

Village spokesperson Brad O'Hearn told Garden City Life that in addition to "disavowing the motives that [Mr.] Keating ascribes to John Mauk, we have reason to believe that several of [Mr.] Keating's assertions of fact are just plain wrong."

O'Hearn noted, "Just for instance, [Mr.] Keating said Avalon reported in an 8K document that it had the development rights to 160 housing units in Garden City, the implication and context was that it involved St. Paul's. It doesn't. It involves conversion of the former Navy officers' quarters at Mitchel Field. It has a Garden City address but is actually outside the village in Uniondale."

Further, O'Hearn added, "The total assets under management of CBRE's Global Investment management business was $37.5 billion and 12 percent of that is $4.5 billion, alleged to be invested in AvalonBay. That would be nearly half the total worth of AvalonBay; not hardly likely."

Village Counsel Gerard Fishberg added, "Even if there were any truths in Mr. Keating's assertions, they would not constitute a violation of the ethics provisions in the village code."

Eastern Property Owners' Association President Dennis Donnolly told trustees that although he believes debate is a great thing on St. Paul's, Keating's "personal attack" on Trustee Mauk was totally out of order. "I think he's owed an apology," Donnelly said.

Osborne Road resident John Boyle, however, disagreed, stating that the information Keating divulged is absolutely pertinent.

Others suggested that Mayor Peter Bee examine the composition of the St. Paul's Committee, members of which he appointed, while some thought Chairman Mauk should be removed from his title. "The mayor should re-think who chairs the committee going forward," Kevin Curtin of Hilton Avenue said.