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County May Purchase Portion Of Trader's Cove
Sale Would Be Next Step In The Site's Redevelopment
By Catherine Galioto
Ongoing efforts to redevelop the Trader's Cove marina are once again before the township council, which hopes to sell a portion of the site to the county in order to move forward in the preservation and revitalization of the marina. The county is sharing the cost by covering the township's debt for the project.
The sale should bring $1.5 million to Brick, said Councilman Michael Thulen.
In the end, the township hopes a revamped Trader's Cove will have amenities such as a boat museum, redeveloped boat slips, more parking and a park.
Thulen said it would be possible to sell the site to a developer, who would in turn fulfill the exact plans the township spells out.
"We'd have the final say," Thulen said. "It's not that we're going to sell it to put 22 condos there."
Thulen was alluding to the fear that the cove would become high-price residential property, exactly the plan for the site before the township, county and other entities joined forces in 2005 to purchase the site. He said going back to residential development is not in the plans in any way.
"We've been talking about this for the last nine, 10, 12 months," Thulen said. While the uses for the site may be mixed, they will be geared towards public-usage. At most, the site could also have a waterfront restaurant.
A plan for the site is already underway. The land use board approved the details in a very specific plan, Thulen said, even offering recommendations for the placement of boat ramps. Under the vision for Trader's Cove, if the township were to sell the property to a developer, the developer would have to follow the plan provided by the township. If the developer wanted to stray from the plan, they would have to go before the township again and be subject to questions, approvals and overall due process, Thulen said.
Ultimately, the township controls what happens at Trader's Cove because only it has the power to decide what can go on the site, Thulen said, regardless of who is developing the site.
The site, formerly known as Mantoloking Cove Marina, is currently in disrepair, according to officials. In order to revitalize it, all buildings at the site will be knocked down. Paying for executing the plans would be in the hands of a redeveloper. A process called payment in lieu of taxes, or PILOT, could be a part of making that happen.
"This is what you call a no-brainer, a win-win situation," Thulen said.
The last time a step in the overall Trader's Cove plan came before the township, some criticized the process as moving too slow. It had been a year since the township partnered with other entities and paid $8 million to buy the site. Not much else happened in public view since.
Since June, the township planner's office has taken the recommendations of the council and drafted a specific plan for the site. Last month, the planning board approved that plan. Thulen applauded the work of planners Michael Fowler and Tara Paxton.
The move to sell a portion to the county to make way for those plans are on the agenda for next week, and a public hearing on it will be held two weeks after that.
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