NEW PROVIDENCE, NJ – During its most recent meeting, Borough Council introduced two ordinances that would change zoning within certain areas of the borough.
One ordinance, 2019-07, would change the zoning of a Linde property along Mountain Avenue from Technology and Business Innovation Zone to an overlay zone permitting a Continuing Care Retirement Community facility. See the details of this ordinance here.
A second ordinance, No. 2019-06, establishes a new affordable housing zone and new affordable housing overlay zones over certain other lots in the borough. While a number of lots are covered by this ordinance, this ordinance impacts the Linde property bound by Ryder Way, Southgate Road and Mountain Avenue, and establishes a Planned Adult Community Overlay (PACO) zone on that property. Details of this zoning ordinance can be found here.
Both had been on a previous agenda, but had been pulled because of questions. Residents near those properties should receive a notice from the township about the zoning changes. There will be a public hearing on the changes during the Sept. 9 meeting of the council.
The zoning map and key can be found here on page 34,
In matters of finance, the borough received some very good news on a number of fronts last week.
Council member Nadine Geoffroy reported a settlement has been made in the “long, ongoing tax appeal of assessments by Martindale-Hubbell, Inc. c/o Lexis Nexis against the Borough of New Providence for property at 630 Central Ave.
Geoffroy said the valuations of the property were in dispute but “after much delay and back and forth,” the attorneys have finally agreed on the valuations. The borough needs to refund $78,874.97 for the years 2010 to 2014. There is a reserve account and an appeal account and “there is enough to cover” the cost of the refund. “I think this is very good news,” Geoffroy said.
She also reported good news on a recent bond sale. The borough put together Bond Anticipation Notes for a total of $7.3 million, to be sold in one day. “The market was favorable and it was a good idea to go in at this point – so last Wednesday, (Aug. 7,) we went out to the market for it and received an Interest rate of 1.76 percent, “which is incredible,” said Geoffroy.
Councilman Dr. Bob Robinson said he was there for the sale and asked the borough’s experts who were also there, “Does it really matter, the AAA bond rating bonding for all three agencies? Does that really matter? Almost in harmony everyone in the room went ‘Yes,’” he said, adding, “So all the hard work that the town does and the workers do all pays off in the end.”
Geoffroy said there were five bidders and the lowest interest rate offer was 1.76 percent and the highest 1.906 percent. “That’s pretty impressive and a credit to everyone,” she said.
She said the borough recently received a report from Moody’s, “reaffirming our AAA rating. The low interest rate saved the borough about $45,000 … It was a great job by the finance department, too.”
The council introduced an ordinance that establishes a “Do Not Block the Box Zone” at the corner of Union Avenue and Martin’s Lane. Residents of Martin’s Lane cannot get out of their street during rush hours and “this should help alleviate the problem,” said Mayor Morgan.
There will be crosswalk improvements at various pedestrian crossings in the borough. Those include: South Street and Woodland Road; Pittsford Way and Springfield Avenue; South Street at Our Lady of Peace and Springfield Avenue at Ridgeview Avenue. Mayor Morgan said there will be beacons and LED lights to make it a lot more visible for people who are driving down the street. “The LED lights are quite bright and should capture your attention,” he said.