Rateables Anyone?

In September, after 2 ½ years of long hearings where the developers were lashed by the opposition (small group that are in the business of opposing almost every project) the Planning Board approved the “Englewood Commons” project on the Old Industrial Park on Route 4 North. This is a mixed use composed of one twelve story office building, luxury apartments and ancillary retail. It also includes a large spa. The city of Leonia, with the applause of certain Englewood residents, is suing Englewood. On October 30th the case will be dismissed or it will be appealed. It appears that Leonia has “close to zero” chance of winning. Let’s hope this project gets built soon.

Another developer has plans to build condominiums on the old industrial park on Route 4 South. After almost 3 years of sweat and grind they almost have their foot in the door. This project is for adult active living. The developer still has months to go before receiving approvals.

It is very difficult for any developer to obtain building permits in this city. In fact, the process is so grinding that most developers stay away from this area, and this creates a serious problem. The problem is that the tax pie has become too large for the homeowners to bite. Expenses in this city and public schools will continue to rise, and we truly need an infusion of new substantial rateables just to keep on breathing.

Even with these two developments we have a long way to go in order to reach the eight to ten million dollars in new rateables needed to prevent huge tax increases. Source: city officials

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