Present were:

Mayor Barbara Cannon	Russell J. Azzarello, Director	Joseph Arena
Patrick Gillespie, President	Michael D'Agnes	Raj Patel
Peter Davis, VP	Thomas Galante	John Vincenti
Mark Proudman, Treasurer	Susan Gieser
Larry Redmond, Councilman	Michael Spina

 

 

 

Absent were:

Robin Rosen, Secretary	Roman Sohor	Alayne Shepler
Edward Testino, Councilman

 

The meeting was called to order at 6:40 p.m.

Salute to the flag was followed by roll call.

Statement was made that the meeting was held in accordance with the requirements of the Open Public Meeting Act.

A motion was made by Larry Redmond, seconded by Michael Spina and unanimously agreed upon for the approval of the February 2003 Treasurer's Report.

A motion was made by Mike D'Agnes, seconded by Larry Redmond and unanimously agreed upon for the the approval of the February 2003 Bill List.

Mark Proudman introduced the 2003 proposed budget to the Board. He suggested that we move $25,000 into a certificate, which will yield a higher rate for a year, and $40,000 into a shorter term certificate.

Discussion was held regarding the monthly bill list and it was decided that this will continue to be submitted to the Board for approval.

The need for an additional source of funds was expressed and will be researched.

Mr. Azzarello stated that he has been speaking with the big businesses in town about a method by which they can contribute funding to the EDC; possibly a service generated fee.

A motion was made by Michael D'Agnes, seconded by Peter Davis, with Tom Galante abstaining, for the approval of the 2003 EDC budget. The motion carried.

A motion was made by Larry Redmond, seconded by Mike Spina and unanimously agreed upon to move $25,000 into a one-year certificate and $40,000 into a shorter term certificate, as proposed by Mark Proudman.

A motion was made by Larry Redmond, seconded by Peter Davis, with Tom Galante and Susan Gieser abstaining, for the approval of the January 8, 2003 meeting summary and executive session. The motion carried.

Russell Azzarello gave his Director's Report.

He informed the Board that the site formerly known as Town Hall on Route 9 near Route 34 was approved by the Zoning Board of Adjustment. The applicant is now moving forward and is negotiating with a local bank for the funding. This will be a significant ratable which will bring approximately 150 jobs to Old Bridge.

Various meetings were held with Old Bridge Regional Hospital and their expansion plans. Mr. Azzarello has been appointed to the Board of Directors of the foundation.

A significant number of meetings have been held regarding the O&Y property and the adjoining Matzel property.

Mr. Azzarello explained that the newest plan for the old Home Depot site is a conceptual plan from King Sports Plaza. Included in this concept plan is a bowling alley, indoor golf, a spa and a virtual interacting arcade. This concept plan has been received very favorably.

King Sports Plaza is willing to work with the Township as far as the traffic light at the intersection and commuter parking spots.

They were invited to return to the EDC with their presentation before they file their application.

K-Mart has a renter but will not disclose the information.

Mr. Azzarello informed the Board that the responses we have received thus far for the O&Y site are very broad.

A motion was made by Mike D'Agnes, seconded by Larry Redmond and unanimously agreed upon for acceptance of the Executive Director's Report.

A motion was made by Mike D'Agnes, seconded by Thomas Galante and unanimously agreed upon to go into Executive Session.

A motion was made by Raj Patel, seconded by Mike D'Agnes and unanimously agreed upon to go out of Executive Session.

A motion was made by Mike D'Agnes, seconded by Thomas Galante, with Mayor Cannon voting nay, to adopt the proposed changes to the employment agreement for Russ Azzarello.

The motion carried.

The meeting was adjourned at 8:30 p.m.