Verona Will Get $1M To Turn Vacant Property Into Public Parking Lot

VERONA, NJ — The Township of Verona will get up to $1 million to acquire a vacant property at 46 Lakeside Avenue. The plan? To create a public parking lot, state officials announced Thursday.

The New Jersey Economic Development Authority (NJEDA) board has approved more than $17 million in funding for the Local Property Acquisition Grant Program. The funding will support 12 real estate development projects throughout New Jersey.

“The projects supported through the Local Property Acquisition Grant Program will help advance local economic development initiatives throughout the state by transforming unused real estate into vibrant commercial spaces and community hubs,” NJEDA chief executive officer Tim Sullivan said.

Verona will get up to $1 million for the above purpose, the NJEDA said.

The plan is part of an ongoing effort to “revitalize and support Verona's downtown economy and local businesses,” local officials explained earlier this year. Read More: Verona Plans To Buy Our Lady of the Lake Parking Lot On Lakeside Avenue

Here’s the concept, officials said:

“To ease the strain on existing municipal lots and free up spaces for both downtown businesses and Verona Park, the proposed parking lot will offer around 140 metered spots along with overnight and commercial parking permits. Additional revenue streams will come from electric vehicle (EV) charging stations. These projected revenues offset project costs and lead to a point at which the site is generating revenue for the township.”

According to a post on the municipal website, other details include:

• “A new traffic signal to help safely manage the increased foot traffic, will be installed by Essex County. The county is currently designing a signal at the intersection of Lakeside Avenue and Pease Avenue and is aware of the township's proposed project.”
• “Solar canopies which will offset the township's energy usage are currently being analyzed for the site. Solar canopies will reduce the township's annual energy costs while taking advantage of state and federal tax credits.”

A bond for the purchase was approved during a recent Verona Township Council meeting.

OTHER APPROVED FUNDING

The following additional projects were approved to receive funding through the Local Property Acquisition Grant Program, state officials said Thursday:

• The Town of Westfield will receive up to $660,050 to acquire a vacant property located at 200 South Avenue West to create a pedestrian plaza/pocket park.
• The Camden Repertory Theater Community Development Group will receive a grant award up to $483,400 to acquire a vacant building at 918 Broadway. The project will be a mixed-use project with performing and exhibition spaces, training and workshop facilities, office space, and five units of affordable housing.
• The Carteret Redevelopment Authority will receive a grant award of up to $1,547,500 to acquire vacant property located at 1179 & 1235-1239 Roosevelt Avenue. The project will be a mixed-use development with commercial space and over 200 residential units, including at least 20 percent affordable units.
• Chicken Bone Beach Historical Foundation Inc. will receive a grant award of up to $1,824,569 to acquire a vacant property located at 14 N. Mississippi Avenue in the Ducktown neighborhood in Atlantic City. The project will be a cultural arts center retaining the 200+ seat theater and converting the upper floors for additional classrooms and teaching areas for music and choir lessons, hosting educational programs and art exhibits, and offering concerts and performances.
• The Town of Clinton will receive a grant award of up to $2,409,108 to acquire a vacant property located at 19 West Main Street. The project will be a commercial development.
• Greater Bergen Community Action, Inc. will receive a grant award of up to $2,601,155 to acquire a vacant 24,000 square foot, 3-story building located at 106 Somerset Street. The project will be a mixed-use, multi-purpose building with office space, training rooms, community service programs such as Head Start and Adult Education and Training, as well as a credit union branch and a possible coffee shop for commuters.
• The Town of Hammonton will receive a grant award of up to $544,663 to acquire the 5,000 square foot vacant former Peoples Bank and Trust Company/First Bank of Hammonton building located at 15 Central Avenue. The project will be either a restaurant, retail, or entertainment space which will be determined following the Town’s Request for Proposals process.
• Ideal Education A NJ Nonprofit Corporation will receive a grant award of up to $703,000 to acquire a vacant 20,000 square foot building located at 7 South Carolina Avenue in Atlantic City. The project will be a community co-op food market and aquaponics farming facility. This project will be strategically located in the heart of Atlantic City and will help address local food security gaps and promote community revitalization efforts in the area. Atlantic City is both a Government Restricted Municipality and a Transitional Aid community and is thus eligible for up to 100 percent of appraised property value costs.
• The Institute of Music for Children will receive a grant award of up to $257,730 to acquire a vacant property located at 747 Westminster Avenue in Hillside. The project will be part of an expansion of their existing campus in Elizabeth.
• Paterson Habitat for Humanity, Inc. will receive a grant award of up to $988,500 to acquire a vacant property (approximately .22 acres) located at 26-32 Spring Street. The project will be a mixed-use new construction project of 16 affordable housing units and child-care space. This project will support city efforts to provide for child-care opportunities, the revitalization of vacant property, quality affordable housing units, and job creation.
• The City of Trenton will receive a grant award of up to $4 million to acquire a vacant property located at 1 West Lafayette Street. The project will be a mixed-use development with hotel, residential, and commercial uses. Trenton is both a Government Restricted Municipality and a Transitional Aid community and is thus eligible for up to 100 percent of appraised property value costs.

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