(Fanwood, NJ)—Mayor Colleen Mahr and the entire Council wore pink in recognition of Breast Cancer Awareness Month during the Fanwood Borough Council regular monthly meeting on Monday, October 17th, 2022.
Tami Bowling and Mayor Mahr
The Mayor read a proclamation supporting Metavivors of New Jersey, a non-profit supporting survivors of metastatic breast cancer, a form of the disease which spreads to other parts of the
body. Accepting the proclamation was Tami Bowling, co-founder of the group and creator of #LightUpMBC, a campaign to light up public buildings, including Fanwood Borough Hall, that took place last week.
The council adopted on first reading an ordinance that sets up financing for Carano Square, the residential and restaurant complex to be built on the South Avenue site of the former A&P supermarket. The project, under a previously approved redevelopment agreement, will build 119 market rate units and 21 affordable units along with a 5,000 square foot restaurant and a new building for Fanwood Liquors.
The financial agreement calls for the developer/owner to pay the normal annual land tax plus annual payments in lieu of assessed taxes (PILOT) on just the improvements. Mike Hanley, the financial advisor for the borough, estimates projected revenue of the project when completed to be $23 million to the Borough over the 30-year life of the finance agreement versus $3 million if the property remains undeveloped and continues to pay under traditional taxation of which the borough collects less than 20%. A public hearing and final vote on the financial agreement is scheduled for the November 21st council meeting. Joe Demarco, the borough’s redevelopment attorney, said assuming final approvals by the Council and Planning Board, construction should be underway by next summer.
Digital rendering of South Avenue view of Carano Square
The Borough Council also voted final approval of the establishment of four parking spaces reserved for military veterans. Two spaces in the downtown municipal lot and two spaces at the Borough Hall complex will be marked with signs in time for Veterans Day.
