Fort Library to Be Future Home for Redevelopers
FMERA headquarters are currently on Industrial Avenue in Eatontown.
A vote at Wednesday's meeting of the Fort Monmouth Economic Revitalization Authority (FMERA) approved a contractor's proposal to remodel the former Fort Monmouth library building for use as the redevelopment authority's new home. FMERA staff currently reside in an office on Industrial Way in Eatontown.
FMERA approved the award of a design-build proposal by Patock Construction of Tinton Falls for about $514,000, which will be paid for by a loan from the Economic Development Authority, the state entity which oversees FMERA. The loan is given in advance of revenue that FMERA will generate from future leases and sales of fort property. FMERA and the Army will split the proceeds of the property 50/50, with the redevelopers required to reinvest all profits from sales or leases back into the property for seven years after the last property is conveyed.
The 1,126-acre property will be transferred in pieces from the Army to FMERA, which will act as a go between with prospective buyers and leasees.
The library was originally built by Rizzuto Construction Corporation in the 1970s. According to the son of owner Mel Rizzuto, Mel's Rado watch is still embedded in its foundation.
No word yet on when construction will begin, but in the past the authority's Executive Director Bruce Steadman, had said that he expected the move to be in the summer of 2012. After the move, all business and public meetings will be held at the new location.
FMERA is required by law to locate its offices within one of the boroughs that encompass the fort. And since the redevelopment process is expected to last some 20 years, Patch is hoping for some comfy seats.