In a unanimous vote, the Hopatcong Borough Council on February 1st approved an ordinance that will officially designate a 32.8-acre section of land near River Styx Road as an area in need of redevelopment.
As reported by the New Jersey Herald – Read the Full Article
The new designation will allow the borough to offer incentives, including five-year tax abatements, to encourage investors and developers to bring new business and housing opportunities to the area. Also, the borough will have access to a number of new federal grant opportunities that borough official’s hope will provide additional funding for the project.
During the annual reorganization meeting of the Borough Council in January, Mayor Michael Francis said that continued efforts to revitalize the struggling community would be at the top of the 2017 priority list.
"The Borough Council and the Land Use Board have also focused their attention on establishing an economic development plan that would further economic growth throughout the entire borough," Francis said in January.
Borough officials stated early on that they do not intend to use eminent domain against residents or business owners.
The Borough Council will work in collaboration with the Land Use Board to facilitate the next steps in the revitalization process. Residents will be invited to speak in front of both groups during public sessions.