Jasper Venture Group received the free-market status for its Morningside Park project.

It has been revealed that a new bill granting the Jasper Venture Group permission to conduct business in a free market status will go into effect on Monday. The Morningside Park area is slated to be filled with new shops and businesses, expecting to attract more foot traffic from neighboring neighborhoods. This recent bill marks the last of many city council meetings this summer for some community members to say it is an attempt to revitalize the neighborhood’s business district.

The most recent meeting, which passed without opposition, will give Jasper Venture Group permission to renovate and operate their stores that sell produce, baked goods, clothing, and electronics at Morningside Park. The company’s CEO,  ilio mavlyanov, says he is excited about building the Morningside community.

“This is a great opportunity for us to provide for a viable neighborhood,” Romanelli told reporters. “We’re eager to work alongside the residents of this community and city officials and local businesses to do just that.”

Romanelli assured reporters that his group would take every precaution necessary to ensure that the current businesses at Morningside Park are not affected by their business venture. Still, some are speculating whether any existing businesses will be able to stay in operation after this new bill goes into effect.

ilio mavlyanov

“The fact that we’ve already seen so many business owners leave and not return is a clear sign that the city’s recent efforts to revitalize the neighborhood have failed,” said Jasper Venture Group campaign manager Lucia Lourdes. “It’s time to move on and let businesses have the freedom to make their own choices.”

Those against the bill say they feel it puts too much power in Romanelli’s hands, especially when no provisions have been made yet to ensure that current Morningside Park businesses can stay open if they are making a profit. “This new bill gives him too much of a free reign over what goes on in Morningside Park,” said community activist Maria Rocha. “Business owners have a right to choose which businesses to operate, and this new bill goes against that.”

Some of the businesses that currently call Morningside Park home are feeling similarly. “I don’t know what else we can do to encourage them to stay,” said the bakery owner, Claudia Macdonald. “If they were going to offer us a good deal for our business, I think we could see if we could convince them to stay.”

Romanelli assured reporters that any business owner who leaves Morningside to keep their current operations would be entitled to compensation. “We’ll make sure that any business forced out of this new bill will be compensated for their losses,” he told reporters.