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Carneys Point advances redevelopment guarantees and sends Commercial Corridor plan to Planning Board
Summary
The committee approved redevelopment guarantees for parcels on Collins Drive, referred an amended Commercial Corridor Redevelopment Plan to the Planning Board, and accepted a planning-board bond estimate for 155 Central Schoolhouse Road; St. James building is scheduled to close Aug. 12 to become senior apartments.
The Township Committee approved financial guarantees and performance assurances tied to redevelopment at 4 and 7 Collins Drive and referred the Commercial Corridor Redevelopment Area Amended Plan to the Carneys Point Planning Board for review.
Mr. Pelura described the bond and guarantee mechanics that protect the township during development and the motions were approved unanimously. Separately, Sickels & Associates presented a standard planning-board bond estimate and inspection-escrow figures for 155 Central Schoolhouse Road (Block 230, Lots 24 & 25), which the committee accepted. Mr. Bomba also reported that the former St. James building is scheduled to close on Aug. 12 and will be converted into senior apartments.
