##VIDEO ID:Tyajg6XTY7c## Ford Avenue Redevelopment agency committee meeting for Tuesday September 17 2024 can I get a roll call please Mr cook Mr farcus here Mr Livingston here Mr mangarella here Mr mashy here chairman olinski here councilman rinsky thank you that's it all right can I please get a moment ver to salute to the flag iedge Alle United States of America stand indivisible thank you all right item number four meeting notice uh Mr chairman let the minutes reflect that adequate notice of the holding of this regular meeting of the fort Avenue Redevelopment agency was provided by the adoption of a resolution and the posting filing and folding of a copy of the same to the official burough newspaper home News Tribune publishing companies on February 6th 20124 public participation in this meeting will be permitted during public hearings and after the agenda of scheduled matters has been completed thank you that brings us to number five the meeting minutes from last month everybody got a chance to read it can I get a motion to accept this tipe so move second second all in favor I anybody oos opposed thank you item number six bills and claims so Mr chairman the agency members have the bills and claims in front of them uh we have bills totaling $1,439 55 this month we received a replenishment of $25,000 to the escrow account uh leaving us with a current balance U upon approval of the of the agency of $1,893 183 to vote on bills and claims forget yes okay can I get a motion to accept bills and claims is TI so move second second all in favor anybody opposed thank you all right Chairman's report well we got some stuff to talk about later but I don't have anything new on the Chairman's then so we'll move on to number eight correspondence no correspondence Mr chair that brings us to number nine old business do we have any old business I don't believe so is our referendum new business or old business oh that's new business okay yeah that brings us to number 10 new business do we want to do the executive session first or the budget first I I'll be very brief on the I think you do the budget first all right let's do the budget so we're going to do we're going to do it backwards and what we have written we're going to do the budget first he'll explain that and then we'll go in executive session and oh oh I'm too close sorry about that um so Mr chairman as explained at the last meeting the DCA required a specific resolution um that we introduced our budget in November instead of October of last year and we've now completed that resolution at last month's meeting so the budget process has to happen in a very specific sequence as set up by the dca's electronic filing system so the DCA has asked us to reopt our 2024 budget which was initially adopted um uh in December of last year so that we're back on their required um sequence and and that's what we're doing this evening DCA had no substantive issues or problems with the budget that was presented the numbers that are presented here tonight that were publicly advertised um and that are available in the clerk's office on our website have not changed since last year um uh for background our budget um as introduced and initially adopted last year was for 482,000 based on anticipated estimated expenditures for this year and as always all revenue to cover all of our expenses comes from the redevelopers escrow per the Redevelopment agreement so we're never out of balance in our budget and the same is true um so this is really just a procedural step that the DCA has asked us to take um and then at that point we'll be back on track and then ready to um introduce our 20225 budget in the next month or two thank you everybody got a chance to look at it yes it's only 106 pages but um it's basically the same budget so can I get a motion to accept this type I think you need a roll call uh Mr chairman yeah he's got a roll call on here do a motion in a second y second second can we get a roll call please um Mr farcus hi Mr Livingston hi Mr mangarella hi Mr masi hi chairman olinski hi and that's that will do it for for that piece Mr chairman all right very good thank you everybody um now can we read the go into executive session yes we do Mr chairman um whereas the miltown fort Avenue Redevelopment agency has a need to discuss matters involving miltown Fort Avenue Redevelopment agency versus S SP Building Association Associates case number 19 CB 2149 uh 4 znq de whereas the open public meetings act provides that a public body May exclude the public from Those portions of a meeting and discuss certain matters in closed session including any pending or anticipated litigation where the public body is or may be become a party including matters falling within the attorney client privilege now therefore be it resolved by the miltown fort Avenue Redevelopment agency that the agency enter closed session to discuss the above mentioned matter be further resolved that the discussion held in closed session will be closed to the public upon return to open session thank you so if a motion we get a motion to move in executive session so move second second all in favor I anybody opposed thank thank you all right Russ we got to turn you off and K you guys out for a few minutes go get an ice I'm just open yeah yeah yeah turned it off yeah it's on hold on one second I got a fire work all right we're back Mr Mr Kill yes Mr chairman um as indicated in the resolution to go into closed session we briefed uh um the public in what we discussed U during the close session when Upon Our return so um I brief the uh the Commissioners uh of the agency uh that there was a trial that took place as they knew uh during the past uh week and a half uh that a a verdict was rendered by the jury and I'm going to round off uh for the ease of discussion uh that the um uh the jury verdict came in at $26 million um which is um a bit higher maybe more than a bit higher than we anticipated uh that um the I've met with the um redevelopers of the site uh about what their expected actions will be uh they are reviewing um their numbers or finances the development project itself uh to see if they can make uh ends make this a VI economically viable project uh in the meantime we're analyzing the verdict um to see whether or not there is a basis for appeal uh or some other legal action to amend um the the verdict or the Judgment uh the Judgment has not yet been officially entered uh the verdict is the jury verdict and then um the um in this case the property owner's attorney will be submitting a proposed judgment the judgment is then reviewed by uh all the attorneys involved in the case and people have the right to make it a objection to the form of the Judgment uh but eventually the judge will sign the judgment and that becomes the official uh document that um um indicates what the end result of this case is so um right now there's uh both from a development side financial side and the legal side paths that are are going down um we'll be meet I'll be meeting with the the uh developers and and then the bureau attorney uh to discuss uh next steps as well I've always been in touch with I've already been in touch with the bu attorney to brief him on where we are so the council is apprised of it and if the council has any questions they can certainly ask him uh ask me through him or however they wish to proceed uh but that is where we are at this moment thank you you're welcome Mr chairman now um before we open up to the public for anybody has any questions also at this time you can ask questions about the budget if you have any questions about the budget we're happy to answer them if you any questions for the lawyer for us about what happened in the trial you can come up and ask now and we're good to go we have any questions from the audience all right that brings us to member comments do we have any member comments on what's going on we're good that brings us to item number 13 can I get a motion to adjourn some move second second all in favor I anybody opposed thank you and Mr chairman sorry if I could I just wanted to mention that next month's meeting happens to be on the fourth Tuesday where we're usually here on the 3D uh Tuesday so October 22 is the next meeting so a little different than our normal schedule because of uh I think because of thec meeting because of a council meeting right okay it's on Tuesday the thth still a Tuesday still a Tuesday whatever it's actually the second Tuesday either way we're definitely October 22nd as opposed to the week before butum day we're off so yeah right all right more file