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Redevelopment counsel outlines Harrison Avenue plan; residents press council on PILOT, school impacts
Summary
At a council meeting, redevelopment attorney Anna Monfort briefed the Borough of Waldwick on the Harrison Avenue redevelopment plan and how negotiated payment‑in‑lieu‑of‑tax (PILOT) agreements work; residents and council members sought details on school impacts, affordable units, developer profit caps and project timing.
Anna Monfort, the borough’s redevelopment attorney, told Waldwick council members that the Harrison Avenue area was designated an area in need of redevelopment in September 2024 and that a redevelopment plan was adopted in December 2024. She outlined the redevelopment-agreement process: a redeveloper must begin construction within agreed timelines, obtain approvals, pay costs for property acquisition and public improvements, and report periodically to the borough. Monfort said redevelopment agreements can include negotiated long- or short-term tax-exemption arrangements commonly known as PILOTs (payments in lieu of taxes) and described typical provisions, restrictions and remedies, including limits on transfer and requirements for certificates of completion.
Why it matters: Council members and residents said they want clear, local answers…
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