Post by admin on Feb 20, 2008 6:28:42 GMT -5
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FREEHOLD — An Englishtown real estate company intends to buy the borough's former police
headquarters, according to an ordinance introduced at tonight's Borough Council meeting.
The ordinance authorizes the sale of 54 Hudson St. to U.S. Property Group, LLC, for $600,000. The majority of the proceeds will be given to the township school district, Mayor Michael Wilson said.
The council had agreed to give the money to the district to help with ongoing funding issues.
Borough Attorney Kerry Higgins estimated the district will receive about $500,000 from the sale. The borough will keep a portion of the proceeds to pay for expenses leading up to the sale, Wilson said.
Councilman Jaye Sims said the vacant building, a structure that has served several purposes over the years, will likely be turned into offices.
Police were based at the Hudson Street location from 1979 to 2002, when they moved to their new headquarters on Jackson Street. Before then, the building had also spent part of its life as the Bennett Street School.
The property -- approximately 1.35 acres of land -- had been declared an area in need of redevelopment and proposals were requested for its development. U.S. Property Group was the sole bidder, according to the ordinance.
The company's proposal, the ordinance states, "(W)ill create a significant tax ratable without having a negative impact on the Borough of Freehold's infrastructures and services or on the surrounding residential neighborhood.''
FREEHOLD — An Englishtown real estate company intends to buy the borough's former police
headquarters, according to an ordinance introduced at tonight's Borough Council meeting.
The ordinance authorizes the sale of 54 Hudson St. to U.S. Property Group, LLC, for $600,000. The majority of the proceeds will be given to the township school district, Mayor Michael Wilson said.
The council had agreed to give the money to the district to help with ongoing funding issues.
Borough Attorney Kerry Higgins estimated the district will receive about $500,000 from the sale. The borough will keep a portion of the proceeds to pay for expenses leading up to the sale, Wilson said.
Councilman Jaye Sims said the vacant building, a structure that has served several purposes over the years, will likely be turned into offices.
Police were based at the Hudson Street location from 1979 to 2002, when they moved to their new headquarters on Jackson Street. Before then, the building had also spent part of its life as the Bennett Street School.
The property -- approximately 1.35 acres of land -- had been declared an area in need of redevelopment and proposals were requested for its development. U.S. Property Group was the sole bidder, according to the ordinance.
The company's proposal, the ordinance states, "(W)ill create a significant tax ratable without having a negative impact on the Borough of Freehold's infrastructures and services or on the surrounding residential neighborhood.''