ROSELLE. NJ - Mayor and Council Members voted at Wednesday night’s council meeting to amend the financial agreement with Roselle Urban Renewal LLC, (known to most to residents as the project at the Park Apartments). 

The Council voted specifically to clarify the "Transfer of Project" section (which already existed) to account for the fact that the property is not subdivided based on the project phases. They had previously amended the redevelopment plan and agreement to allow for subdivisions, the Planning Board approved the subdivisions, so now the financial agreement needed updating to ensure it made sense based on those facts in 2019. 

This was the final stage of cleanup in those documents to ensure they all make sense together. Originally, there was language in place to allow for the potential transfer of the project down the line. The language added this week simply makes clear that the individual subdivisions would now be the parcels open to potential transfer, and the existing agreements would transfer with the property itself. 

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According to Councilwoman Denise Wilkerson, the Park Complex does pay to the Borough approximately $500,000.00 a year from the pilot which in is lieu of taxes.

As more units come online, the Borough stands to get more out of the Pilot. What they pay to the Borough in the Pilot is based on their gross revenues, so more units equal more revenues for them and for the Borough. 

In other items, the Council accepted the resignation of Isiah Barr who currently serves as Economic Development Coordinator. 

Current employee promotions were Walter Wimbush to the position of Code Enforcement Trainee, and George Phipps and Duane Patterson were both assigned as Provisional Assistant Superintendents of the Department of Public Works (DPW). 

The council also voted to establish a CAP Bank. The CFO explained that it is used for an emergency situation for expenses, to allow the Borough to go above the allowed 2.5 Cap to a 3.5 Cap. This would also carry over for two years. 

There was a discussion on the resolution for the area of 1st. Ave. that currently houses a Laundromat, the old K of C building, and the large warehouse that has been sitting empty for years. The resolution was approved for the Planning Board to move forward to do a preliminary investigation and assessment for improvement or redevelopment of that area. 

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