[CPEO-MEF] REUSE: Ft. Monmouth (NJ) property transfer

[Lenny Siegel <lsiegel@cpeo.org>]

Army accord with FMERA is official

BY KENNY WALTER
Red Bank Hub (NJ)
May 24, 2012

The redevelopment of Fort Monmouth is now officially in the hands of  
the Fort Monmouth Economic Revitalization Authority (FMERA) after the  
United States Army signed a memorandum of agreement (MOA) during a  
ceremony last week.

...

The agreement allows FMERA to sell or lease 560 acres for the first  
phase of development of the fort's 1,100 acres, which are situated  
within the host communities of Tinton Falls, Oceanport and Eatontown.

The MOA summarizes the Economic Development Conveyance (EDC)  
agreement, the contract that will ultimately dictate the process of  
how and when the 1,126 acres of fort property will be transferred to  
private ownership. According to FMERA Executive Director Bruce  
Steadman, the contract outlines the process and timing by which the  
Army transfers property to FMERAand the division of responsibilities.

The MOA also stipulates that all proceeds from the sale or lease of  
fort property will be split down the middle, with the Army's profit  
going into the U.S. Treasury.

...

For the entire article, see
http://hub.gmnews.com/news/2012-05-24/Front_Page/ 
Army_accord_with_FMERA_is_official.html

--

Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org

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