PASCACK VALLEY—“Mayor Mike” — as he’s known to many of his Montvale residents — told fellow mayors and business leaders at the Greater Pascack Valley Chamber of Commerce’s annual mayors’ breakfast Jan. 24 that new development here is generating $4 million in annual tax revenue and that Montvale’s “diverse mix” of local professionals is what attracts businesses to the town.
The breakfast, at The Tavern at the Iron Horse in Westwood, is an annual tradition and major fundraiser for the chamber, which serves the eight towns of the Pascack Valley and nearby Oradell and Old Tappan.
Ghassali said his presentation “may sound like a campaign speech but it’s not.” He said that pre-Covid, Montvale had 20,000 employees working here during daytime and a 5% corporate vacancy rate, and post-Covid, the borough hosts 7,000 daily employees and a 20% corporate vacancy rate.
He said the school district is spending $30 million on improve ments courtesy of voter approval of a 2021 referendum; that sanitary sewers are 50 years old; and that what Montvale does to deal with flooding from Pascack Brook affects downstream communities.
He said Montvale has built 365 affordable units, or 10% of local housing stock.
He said last year the borough bought a 28-acre undeveloped plot on Summit Avenue and resold the property to Veolia North America, who will install two water towers “so we can have more [water] pressure in Montvale, River Vale and Old Tappan.”
He quipped to those towns’ mayors, including Hillsdale’s Michael Sheinfield, whose borough he serves as administrator, “You’re welcome.”
He said the borough bought the last farm property in Montvale, DePiero Farms on Craig Road, for $5 million and plan to keep part of it as a strawberry farm.
He said a property on Kinderkamack Road will be used for housing for eight veterans, and seven more borough-owned properties will be used for similar uses.
He said two committees dealing with local commerce are working to maintain established businesses and attract new enterprise.
“We decided last year as a community to brand Montvale as a medical hub,” said Ghassali, noting doctors, nurses, medical professionals, vendors, suppliers, patients, families, “they need to eat, they need to shop and that will generate commerce for restaurants and small businesses.”
He said a new steakhouse is inbound this year.
He said Montvale is generating an additional $4 million yearly in taxes from new developments, with the school district getting $2.5 million, the borough $1 million, and the county $500,000.
He said Montvale is home to residents from 57 countries, who speak 27 languages. “I speak four of them.”
He said local businesses communicate with 110 companies daily “around the globe and I strongly believe that the diverse mix of the talent is what attracts these companies to Montvale, especially for the medical professionals.”
The mayor said the borough’s downtown is vibrant and “doing wonderful” with new restaurants and businesses enlivening the downtown scene.