WAYNE, NJ-The recent State Supreme Court ruling requiring new rules be devised by the state's Council on Affordable Housing for determining municipal obligations will have major impact on this township's redevelopment plan, says Wayne's mayor, Chris Vergano.
The court said COAH must develop new rules within five months - and Wayne's mayor, Chris Vergano, says this means the town will need to delay action of formulating its redevelopment plan.
"We will need to proceed cautiously with the re-examination of the Master Plan until COAH issues its new set of requirements based on last week's Supreme Court ruling," Vergano said, according to The Record.
Vergano, who is in the thick of a re-election campaign, had put forward a rezoning plan that would permit multi-family and mixed-use development in previously undeveloped industrial/commercial sections of town.
He stood by the plan drawn up by planner John Szabo in the face of stiff resistance at two public hearings, contending it is the only way to build the town's tax base. See previous GlobeSt.com story.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.