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NEWS RELEASE

CITY OF HACKENSACK
John Labrosse, Mayor
City Manager 201-646-3901
March 19, 2014

COUNCIL FINE-TUNES DEVELOPMENT PLAN
SETS CONDITIONS FOR SALE OF DOWNTOWN SITE

(Hackensack, NJ) The City Council last night adopted changes to the Lot C Redevelopment Plan, paving the way for the sale of the 4.3 acre site to a qualified developer in a few months.

The area known as “Lot C”; is an underutilized surface parking lot owned by the city. Earlier this year it was declared an Area in Need of Redevelopment, according to the criteria set forth by the state redevelopment law.

The Redevelopment Plan for Lot C proposes that the site be used for high density, mixed use development with a diverse residential population. The site offers easy access to the city’s downtown area as well as the Bergen County government offices and the county courthouse. Mass transit facilities are also conveniently located nearby.

The Lot C Redevelopment Plan was adopted by the city council on January 28. Last night the city planner Fran Reiner introduced several changes to the Lot C plan that would better reflect the city’s redevelopment goals. Among the changes to the plan are restricting the number of small studio apartments – between 500 and 600 square-feet — to 25 percent of the total units on the site; limiting to 10 percent the number of units over 1,200 square-feet and setting the minimum number of residential units at 240 with a maximum of 440.

The changes approved by the council also require that the redeveloper complete the redevelopment project in no more than two phases so long as parking is included in the first phase.

Other changes to the plan govern on street parking and materials that can be used on the building facades in the area, including any parking structures. Brick and or glass must cover a minimum of 75percent of each building façade and vinyl siding is prohibited.

Deputy Mayor Kathleen Canestrino said the changes recommended by city planner will improve the aesthetics of the development and provide a better mix of housing for the city.

“I believe these changes give the city much better control over what gets built on Lot C, how the development will look and how the developer has to proceed,” said Canestrino.

Redevelopment attorney Brian Nelson said Lot C will be offered for sale at a public auction in about three months. Interested bidders will be able to secure detailed information regarding the property and the auction in April.

Anyone wishing to be eligible to bid on Lot C must submit a conceptual redevelopment plan to the city 15 days before the auction and make an escrowed deposit of $200,000 to the city. The successful high bidder must submit a check for not less than 10 percent of their bid price the day the auction is concluded.

Councilman Leo Battaglia said he is excited at the prospect of seeing the long vacant parking lot become an income producing site for the city. “The sale of Lot C will be a big step in the city’s redevelopment efforts and will lead to quality development elsewhere,” said Battaglia.

http://www.hackensack.org/controls/eventview.aspx?MODE=SINGLE&ID=799

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March 20, 2014 News, Press Release, Uncategorized

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NEWS RELEASE

CITY OF HACKENSACK
John Labrosse, Mayor

City Council Adopts Ordinances To Help Propel Redevelopment

(January 28 2014) The city council approved two ordinances last night that will help propel redevelopment in the city’s downtown area. One ordinance allowed the city to formally adopt the Lot C Redevelopment Plan.

Lot C is a 4.3 acre city-owned property that was designated as an area in need of redevelopment in 2013. The area is currently comprised of underutilized surface parking. The proposed Redevelopment Plan calls for multi-family residential development, but would also require the provision of public parking for adjoining parks.

The adoption of the Lot C plan allows the council to begin advertising for a developer for the site with the hope that plans would be presented in a few months.

The second ordinance adopted by the council provides short-term tax incentives for developers and residents who build or make improvements in the 39-block Upper Main Street Rehabilitation Area. The ordinance sets specific criteria that developers must meet to obtain a tax abatement.

Interim City Manager and economic Development Director Anthony Rottino said the abatement ordinance provides the city with a tool to attract significant investment in the area. He said ultimately the tax incentives will generate more revenue for the city than the short term tax abatements will cost .

“The ordinance is very specific about what a developer needs to do to even be considered for an abatement,” said Rottino. “Our objective is to attract substantial developments, such as mixed use projects, that will be benefit to the residents and enhance the character of the community.”

Mayor John Labrosse said the with approval of the two ordinances, “the city council is laying the foundation for substantial economic growth initiatives that will provide jobs and tax revenue for residents.”

“I feel confident in saying that we are at the beginning of a economic boom that will change the landscape of Hackensack in a very positive way for decades to come,” added the mayor.

Deputy Mayor Kathleen Canestrino said she is hopeful that the Lot C plan will attract developers of merit who are willing to invest in the long-term economic health of Hackensack.

“We want to work with top notch developers who recognize the benefits of investing in Hackensack’s future,” said Canestrino. “The developments we are seeking have to be mutually beneficial to the developer and our residents.”

http://www.hackensack.org/controls/eventview.aspx?MODE=SINGLE&ID=773

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March 20, 2014 News, Press Release, Uncategorized