Redevelopers Have Reached Agreement With Army on Fort Monmouth

It's been a long, long time coming, but Fort Monmouth's redevelopers say they finally have an agreement with the Army in hand that will spell out the details of the transfer of the property, a key step in it being redeveloped for civilian use.

The board of the Fort Monmouth Economic Revitalization Authority will hold a special meeting Monday to discuss the agreement that is scheduled to be voted on at its regular meeting on Dec. 21.

"We wanted to give the public the information with plenty of time to review it before the vote at our regularly scheduled meeting," FMERA's Program Director, Rick Harrison told Patch in an e-mail earlier this week.

The  and the  are the two biggest pieces to the redevelopment puzzle. They'll spell out how proceeds from the sale are split between the Army, which still owns the property, and FMERA, which is charged with the redevelopment and will act as the fort's marketer and/or broker.

Here are a few questions Patch is hoping to have answered at the meeting:

• What percentage of the proceeds will FMERA get to pocket for the purpose of redevelopment?
• When can we expect to see the real estate deals start popping?
• When does FMERA expect the first jobs to roll in?

According to FMERA, there will be no action taken at this special informational meeting, which will be held at 7 p.m. Dec. 5 at the Tinton Falls Municipal Building.