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Consolidate Student Loans After five years of haggling with the state, Montgomery Mayor Louise Wilson says the township's attempts to take control of one of its most significant parcels continue to be locked in a dispute over land value and zoning.

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Home Equity Loans Ever since the North Princeton Developmental Center closed its doors in 1998 as part of then-Gov. Christie Whitman's plan to transfer services for the mentally disabled from such large centers to community facilities, local officials have been negotiating with the state to buy the site.

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Home Equity Loan Rates The state's 2003 fiscal budget had listed $30 million in anticipated revenues from the sale of NPDC and the former Marlboro State Hospital in Marlboro.

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Homeowner Loans Now, state Treasury Department officials have said they don't anticipate completing a deal this fiscal year, which ends on June 30. The projects have been moved to the next budget.

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Equity Loan Rates A treasury spokesman declined comment on the status of the talks.

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Student Consolidation Loans Wilson, however, said the delay in the timetable for closing a deal shows that the negotiations have been counterproductive.

Second Mortgages "The state presented Montgomery with a verbal offer we could not possibly accept," she said, declining to cite a specific figure.

Federal Consolidation Loan She said the township has argued with the McGreevey administration and the previous two administrations over how the land should be valued.

Equity Loan She said the state wants the township to pay based on the use of the 250-acre site for commercial and residential development.

Refinancing With Bad Credit Wilson declined to disclose what the township is willing to pay but the municipality assessed the property at $7 million to $8 million several years ago.

Home Equity Line Of Credit She said the township is in the midst of preparing a counterproposal to the state's latest offer.

Federal Consolidation According to Matthew Golden, spokesman for the state Treasury Department, the reason the property was pulled from this year's budget was the uncertainty that negotiations can be wrapped up by June 30.

Equity Loans As a result, the revenue expected to be derived from the properties has been taken out of the fiscal 2003 budget and placed into the 2004 spending plan for the year that begins July 1.

Student Loan Consolidate However, that doesn't mean a deal cannot happen by the end of June, said Golden.

Consolidate Loans Wilson feels that the two sides have gone nowhere because each possesses a completely different vision for the site. "They have appraised the property in a way that reflects their way of thinking," she said. "They want it used for a more intensive development than Montgomery wants or needs."

Home Loans Refinancing In contrast, Montgomery has zoned the property to be used for public parks and education, said Wilson.

Consolidate College Loans "We want NPDC to be a cultural, educational and civic hub with a low-intensity park and recreation concert venue or theater. We've shared this vision with the state and they haven't really responded fully.

Student Loan Refinance "We could accept affordable senior housing . . . but we're not going to build a bunch of houses and offices on that site, it's not going to happen," she added.

Equity Home Golden declined to offer any specifics about the state's plans for the site.

Home Line Of Credit "We have been engaged for some time in negotiations and to my knowledge they're continuing, so making any declarations about the use of the property or anything along those lines would limit our negotiating position unnecessarily," he said.

Home Equity Poor Credit "Our intention is the property will be developed based on smart growth principles," Golden added, declining to be more specific.

Home Refinance Loans "The properties are zoned for certain purposes at present and if that were to change - and I'm not expecting or saying that they will - then that will become a matter of public record when that action occurred," Golden said.

125 Equity Loan Golden declined to say whether the state is negotiating with any other potential buyers, including private developers.

Credit Equity Home Line Wilson maintained that even if no agreement between Montgomery and the state can be reached, the township's vision for the site will be the one that turns into reality.

Equity Line Of Credit "When it comes down to it, if it (the state) decides to sell to a big name housing developer, that developer would have to work with the township," Wilson said.

Bad Credit Mortgage Refinance The township won't hesitate to wage a legal battle if it feels it's being bullied, said Wilson. "If they try to challenge the zoning, we will vigorously defend it in court," she said.

Refinance Comparison Meanwhile, the township is searching for a redeveloper who would ease the financial burden on the municipality and would share its vision for the property, said Wilson.

College Loan Refinance Wilson said her biggest frustration comes from knowing that as long as no deal is in place, the more than two dozen buildings on the property will continue to crumble and environmental issues will remain unresolved.

Refinance "It's demolition by neglect," Wilson said. "For years and years the property has been allowed to deteriorate and some of the buildings are almost in ruins. That's not acceptable."

Home Mortgage One of the key sticking points before any deal is finalized is who will pay for cleaning up the site where there are a number of environmental concerns.

Home Financing Among them are a network of underground asbestos-insulated pipes and potentially leaking fuel oil and gasoline from buried tanks.

Sub Prime Crisis There also are several small landfills that served NPDC on its land and PCB pollutants have been found in sediment at the bottom of a lake on the property.

Chase Banking Despite her misgivings about the current process, Wilson remains hopeful.

Mortgage Banking "I'm optimistic, but it remains probably the toughest nut I'm working on cracking right now," she said. "To expect our residents to stand for paying a value assigned based on a bunch of offices and houses on that site, they're mistaken."

Property Financing By Rager Alvarado
Trenton Times - 4/19/2003

Topic: Sprawl

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