The Linden City Council on Dec. 16 adopted a series of ordinances and bond measures that the administration said will fund property acquisition and capital projects as the city prepares for redevelopment activity.
The council voted to authorize the negotiated purchase of 35 East Blanky Street (Block 212, Lot 24.05) from Northwood Avenue LLC for a purchase price of $5,000,000 and adopted a separate bond ordinance authorizing approximately $5,225,000 in bonds or notes to finance part of that acquisition. Council action also included a $1,540,000 appropriation for street resurfacing (with $1,000,463 to be financed by bonds or notes), a $660,000 appropriation for upgrades to park courts and related bonds, and numerous traffic- and personnel-related code changes adopted after hearings were closed.
Mayor Derek Armstead framed the measures as part of a broader redevelopment strategy, saying projected redevelopment revenues tied to a separate pilot agreement would generate substantially more tax revenue over the long term than leaving parcels undeveloped. “At stabilization, the gross pilot is estimated to be approximately $286,000 annually, of which the city share will be roughly $232,000,” the mayor said, citing city estimates for a different redevelopment parcel. He added projected total revenues from redevelopment for a sample site over 30 years could reach into the tens of millions, and argued pilots help attract financing from banks.
Council leaders said ordinances were properly published and posted and that no written communications were received for many of the items. Several ordinances were adopted after no members of the public asked to be heard; in other cases council heard brief public questions about financing structure and possible future uses for acquired property before closing hearings and taking votes.
Two items held from the May meeting — Ordinance 69 28 and Ordinance 69 29 — were moved and seconded to be tabled to a future meeting. A separate ordinance repealing the Construction Board of Appeals and an amendment to holiday pay provisions for listed municipal officers were adopted after hearings were closed.
The council also approved routine consent items and a package of resolutions (numbers 4 46 through 4 64) by roll call.
Next steps: the council set upcoming meetings (a council conference and a possible regular meeting on Dec. 30 and the reorganization meeting on Jan. 6) and signaled further redevelopment and revenue materials will be provided in coming weeks, per the mayor.