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Council adopts memorandum of understanding to allocate proceeds from Willowbrook land sale to joint capital fund
5773037 · August 12, 2025
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Summary
Council approved an MOU with the BPU to repay the electric fund loan used to buy 2009 Willowbrook acreage and to place sale proceeds into a jointly governed capital-improvement fund for future land acquisitions.
The City Council on Aug. 11 adopted a memorandum of understanding and associated resolution to clarify how proceeds from the sale of city-owned land on North Willowbrook will be allocated and governed; the agreement formalizes repayment to the electric fund for the 2009 land purchase and…
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