HILLSDALE—The governing body will meet behind closed doors on Wednesday, July 6 at 6:30 p.m. to discuss the status of the redevelopment agreement being negotiated with a developer proposing a four-story, 250-unit luxury apartment complex on a site formerly occupied by a Waste Management transfer station in the Patterson Street Redevelopment zone.
Borough Council members are likely to further discuss and possibly vote on a redeveloper’s agreement at the July 12 regular meeting, an agreement which might include a specific community benefit to be provided to the borough in exchange for a density bonus granted in their site application.
However, it was unclear whether a formal presentation on the redevelopment project’s fiscal impacts would be made in public July 12 as requested by some residents at an early April first presentation made by Claremont March LLC, the proposed redeveloper
“Formal action may/may not be taken. The meeting agenda and any relevant documents will be posted on the Borough’s website in advance of the meeting at hillsdalenj.org under the Government/Agendas & Minutes section,” states the meeting notice posted on the borough website.
The borough’s Negotiating Committee members include Ruocco, council president Janetta Trochimiuk, councilman Frank Pizzella and business administrator David Troast.
Ruocco said if council members agree to move ahead with the redeveloper, Claremont March, following the July 6 meeting, several steps may likely occur.
“Assuming that a majority of the governing body wishes to proceed, I expect that there will be formal action at the regular meeting of July 12 to approve that agreement. That action will take the form of a resolution which will designate Claremont March as the official, exclusive developer and authorize me to sign a developer’s agreement with them,” Ruocco wrote Pascack Press.
He added, “The developer’s agreement will be finalized in time for the July 12 council meeting and, if approved by resolution, will be set before me for my signature the next day, July 13. If a PILOT agreement (payment in lieu of taxes) is also part of the final negotiated settlement between the borough and Claremont March, that too will need to come before the mayor and council, either on July 12 or at a subsequent meeting, in the form of an ordinance.”
Related: “Council talks ‘community benefits’ over redeveloper’s Plan,” Pascack Press, May 30, 2022.