Real Estate

Warren Township Redevelopment of Knitting Mill on Dubois Road Helps Offset New Municipal Complex

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WARREN, NJ - On April 8, the Warren Township Planning Board approved a redevelopment plan that includes adding 35 condominium units on Dubois Road. A motion was made to approve as it is "not inconsistent with the master plan."

But the discussion regarding the redevelopment has been ongoing since at least 2010 with discussion and preliminary and periodic approvals at the Planning Board and Township Committee meetings since that time. 
At the  last Township Committee meeting, Deputy Mayor Gary DiNardo said he expects the cost of the proposed addition to the municipal complex to be approximately $4 million. The annex is approaching 100 years old and Warren has been discussing an addition of approximately 25,000 square feet to the municipal complex.Currently, the committee is looking at prices .
 
Both DiNardo and Mayor Victor Sordillo, said the bond payments for the municipal building redevelopment can be expected to be covered by taxable income from the redevelopment of the former Knitting Mill site on Dubois Road.
 

The township had previously adopted an exemption application and the financial agreement for tax exemption of 29 Dubois Road regarding the urban renewal redevelopment project for the former knitting mill.
 
The site was zoned for commercial use, but because it is being redeveloped, the township has the ability to utilize a PILOT (Payment in Lieu of Taxes) program.
 
The township will not pay regular taxes on the property, The township will retain approximately 95 percent of the payment and 5 percent will go to the county. There will be no tax annual service charge.
 
DiNardo said that the income from the 35-unit project could be applied to offset annual payments on the bond payments for the new municipal complex.
 
 

The minutes from the April 8, 2013 meeting are as follows:

Warren Township Planning Board Minutes

April 8, 2013 Page 2

ORDINANCE REFFERAL – TOWNSHIP COMMITTEE

Ordinance No 13-03, Amendment #1 to the Redevelopment Area Plan---

The Knitting Mill/Dubois Rd.

Mr. Chadwick explained that the that the redevelopment was negotiated

from 50 total units to 35 total units. The concept of age targeted remains

with the master bedroom on the first floor but for 6 of the 35 units the

affordable housing element will be in lieu of payment equivalent to the

number of units. This was started when round 3 rules were in effect.

There were 5 units in the original plan and it would be 3.5 now.

Motion was made that this ordinance is not inconsistent with the Master

Plan by Mr. Gallic, seconded by Mr. Linder.

For: Mr. Gallic Mr. Kaufmann, Mr. Lindner, Mr. Malanga, Mrs. Smith, Mr.

Toth, Mr. DiBianca, Mr. Freijomil, and Mr. Villani

Against: none.

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