Present were:

Mayor Jim Phillips	Russell J. Azzarello, Director	Nick Smolney
Patrick Gillespie, President	Edward Testino, Councilman	Michael Spina
Robin Rosen, Secretary	Raj Patel
Mark Proudman, Treasurer	Larry Redmond

 

 

 

 

Absent were:

Peter Davis, Vice-president	Joseph Arena	Michael D'Agnes
Laheri Mehta	Kevin Ruffler	John Vincenti

 

 

The The meeting was called to order at 6:30 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.

Mr. Azzarello informed the Board that Mr. Larry Redmond's father-in-law passed away.

A motion was made by Ed Testino, seconded by Nick Smolney and unanimously agreed upon for the approval of the April/May 2004 Treasurer's Report.

A motion was made by Ed Testino, seconded by Nick Smolney and unanimously agreed upon for the approval of the April/May 2004 Bill List.

A motion was made by Ed Testino, Seconded by Nick Smolney and unanimously agreed upon for the approval of the March 10, 2004 Meeting Summary.

Mark Proudman reviewed the 2004 EDC budget with the Board. Mr. Proudman stated that we eventually need to look to other sources of financing the budget because the contribution made by the Township will not cover our expenses.

Mr. Testino inquired if we had expected projections on the two professionals the EDC is utilizing for the plan.

Mr. Azzarello explained that once we go out with the RFP this can be fee based to offset the expenses which the EDC will incur. We are hoping that the developers interested in the plan will make it self sufficient.

Mike Spina suggested that the EDC look at other plans which would make the EDC self sustaining.

Mr. Phillips stated that the EDC will continue regardless of what happens with the redevelopment agency. There is a lot more to develop in Old Bridge other than the Old Bridge Crossroads. Mr. Phillips feels the EDC can have the most influential impact in its capacity to provide a program of business retention and expansion.

Mr. Philips feels the EDC should keep its sights on the bigger and greater picture.

A motion was made by Ed Testino, seconded by Mike Spina and unanimously agreed upon that the budget be approved with the understanding that when we get the projections from the professionals we may have to adjust or make additional requests of the Township.

Mr. Azzarello gave his Executive Director's Report.

Mr. Azzarello thanked the Board members for attending the Council meeting for the presentation of the Redevelopment Plan.

King Sports is moving along in finding a new source of funding.

The existing K-Mart might be converted to a Target by expanding it by approximately 35,000 to 40,000 sq. ft. Target is very well received. Issues that need to be resolved are parking, drainage and buffering.

There is interest in the redevelopment plan from large firms such as Pulte Homes, Hovnanian, Ryan Homes, Renaissance Builders, and Matzel & Mumford.

The Old Bridge Economic Development Corporation is very active in the 25th anniversary of Raritan Bay Medical Center.

Other efforts that the Old Bridge Economic Development Corporation is involved in are the YMCA and the Golf Committee.

A motion was made by Mark Proudman, seconded by Larry Redmond and unanimously agreed upon for the approval of the Executive Director's Report.

Mr. Gillespie introduced the new Business Administrator, Michael Jacobs, to the Board.

Mr. Jacobs was the Business Administrator in South River for a year, and prior to that, was involved in the development of a 400 acre industrial park in Delaware, where he worked for 15 years.

Presentation

Sandy Craig, Mark Barry and Robert Casagrande, realtor, were present to give an overview of their company, RISCO (Recreational Industry Service Corporation).

They are in contract with Nappi Trucking Company on Route 24.

RISCO was started in 1988 and they employ about 15 to 20 employees. Approximately 40 percent of their business is warranty work for high end motor coaches. The motor coaches range in price from $150,000 to well over 1 million dollars. They have good relationships with the manufacturers and they do everything from satellite dishes to repairs.

Another big part of their business is with the movie and entertainment industry. They service the motor coaches of big name stars.

They also have a small retail operation for parts and accessories, and a rental until for large company functions, which starts at $300,000. This unit is also used for volunteer services throughout communities.

Ms. Craig stated that they have been trying to locate to Old Bridge for several years and the Nappi building would enable them to move in over a weekend and be fully operational by Monday.

Mr. Azzarello informed the Board that the Nappi site was formerly a bus terminal.

The property is a perfect fit for the company and would require only minor revisions.

A motion was made by Mike Spina, seconded by Mark Proudman, with Larry Redmond and Patrick Gillespie abstaining, for a resolution in support of RISCO relocating to Old Bridge (Nappi site). The motion carried.

Mr. Redmond thanked the Board for the condolence basket.

Mr. Gillespie stated that the Council passed a resolution to authorize the Mayor and administration to prepare a package to the Local Finance Board for the creation of a redevelopment agency.

One of the things that came up in the debate was that the EDC, by virtues of the way it is comprised, cannot function in that capacity - it is not permitted by law. The EDC will work in conjunction with the redevelopment agency.

The plan is moving forward. The Planning Board will pass a resolution where they will make findings and recommendations about the plan and the Council will use that to prepare and ordinance, which will go through first reading and second reading. That ordinance will enshrine the plan we proposed.

Issues raised at the Planning Board were overall per unit cap and also amenities.

Mr. Gillespie stated that the EDC should be designated as the advisory group to the redevelopment agency.

A financing plan for the functions of the redevelopment agency has to be included in the package to the Local Finance Board. The EDC would make available funds that we control for the purposes of the redevelopment entity.

Mr. Phillips stated that the EDC has led the way and the professionals we have selected have been great.

A motion was made by Larry Redmond, seconded by Mike Spina and unanimously agreed upon that the EDC execute a commitment letter or memorandum both on professionals and, if necessary for financial resources, for submission with the Local Finance Board application.

A motion was made by Larry Redmond, seconded by Mark Proudman and unanimously agreed upon to carry the Board Attorney, Thomas Downs, on a month-to-month basic, and to appoint the firm of Fallon and Fallon as the auditors for the Old Bridge Economic Development Corporation.

The meeting was adjourned at 8:00 p.m.