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Pompton Lakes redevelopment agency recommends plan amendments and financial talks for '61' project; vote passes over one dissent
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Summary
The Pompton Lakes redevelopment agency voted to recommend 11 amendments to the downtown plan and to pursue a financial agreement to support the 61 at Q Avenue project; the package passed on roll call with one 'no' vote.
The Pompton Lakes Redevelopment Agency voted to recommend amendments to the downtown redevelopment plan and to ask the borough to negotiate a financial agreement to support a proposed project at 61 at Q Avenue.
The board approved two related measures after a briefing from the agency attorney. The first resolution recommended 11 changes to the Downtown Compton Lakes redevelopment plan, including allowing residential units on the first floor and raising permitted building heights. The second measure recommended that the borough pursue a financial agreement (tax abatement/exemption) to make the proposed project financially viable.
Board counsel outlined the proposed agreement's chief terms, including a one-time $3,500 agency-cost payment to the borough and tightened force-majeure language. Counsel also described an alternative parking-driven unit count: the developer may be allowed up to 23 units if it secures additional parking within a 500-foot radius.
On roll call, Mister Silverstein voted yes, Miss Novak voted no, Mister Ross voted yes, Mister Kimberlin voted yes and Kathleen Bennett voted yes; the motions carried.
The resolutions are recommendations to the borough and do not by themselves change zoning or finalize a redevelopment agreement. Board members and staff stressed that specific financial terms and any tax-exemption structure will be subject to later negotiation by the borough and the developer.
The board directed staff to continue negotiating and to bring the redevelopment agreement and any recommended terms back for review as they are refined.
