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Description:
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NOTICE OF PENDING BOND ORDINANCE AND SUMMARY
MILLBURN TOWNSHIP
MILLBURN TOWNSHIP COMMITTEE
ORDINANCE 2764-26
The bond ordinance, the summary terms of which are included herein, was introduced and passed upon first reading at a meeting of the governing body of the Township of Millburn, in the County of Essex, State of New Jersey, on July 29, 2026. It will be further considered for final passage, after public hearing thereon, at a meeting of the governing body to be held at the Millburn Education Center, 434 Millburn Avenue, Millburn, New Jersey 07041, in said County on August 11, 2026 at 7:00 p.m. During the week prior to and up to and including the date of such meeting copies of the full ordinance will be available at no cost and during regular business hours, at the Clerk’s office for the members of the general public who shall request the same. The summary of the terms of such bond ordinance follows:
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Title:
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BOND ORDINANCE PROVIDING FOR A CONTRIBUTION TO THE ALTERNATIVE SITE REDEVELOPMENT PROJECT, TO BE UNDERTAKEN IN THE TOWNSHIP OF MILLBURN, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY; APPROPRIATING $22,375,000 THEREFOR AND AUTHORIZING THE ISSUANCE OF $21,850,000 BONDS OR NOTES OF THE TOWNSHIP TO FINANCE PART OF THE COST THEREOF
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Purpose(s):
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Contribution To The Alternative Site Redevelopment Project To Be Undertaken In Accordance With A Redevelopment Plan At Certain Property At/Near The Intersections Of Essex Street, Spring Street And Millburn Avenue Consisting Of (A) Block 1212, A Portion Of Lot 4, And All Of Lots 25, 26 And 27, (B) A Private Parcel, Block 1212, Lot 24 And (C) Block 1207, Lot 7, As Identified On The Official Tax Maps Of The Township, Said Alternative Site Redevelopment Project Shall Include But Not Be Limited To, The Construction Of A Four (4)-Story Residential Development Consisting Of Ninety-Three (93) Total Housing Units, Including Seventy-Five (75) Deed-Restricted Affordable Rental Units Compliant With UHAC And Eighteen (18) Market-Rate Units, With Parking Anticipated To Include Approximately Eighty (80) Parking Spaces And Shall Also Include All Work, Materials, Equipment, Labor And Appurtenances As Necessary Therefor Or Incidental Thereto.
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Appropriation:
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$22,375,000
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Bonds/Notes Authorized:
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$21,850,000
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Grants Appropriated:
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N/A
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Section 20 Costs:
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$1,150,000
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Useful Life:
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30 years
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BY ORDER OF THE TOWNSHIP COMMITTEE
Christine A. Gatti, RMC, Township Clerk
Posting Details – Ordinance 2764-26
Millburn Township Committee
Date Posted on Millburn Public Notices Page and Bulletin Board: 07/31/2026
Date Notice Archived: 9/1/2026
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Publication Date/Time:
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7/31/2026 12:00 AM
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Closing Date/Time:
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9/1/2026 11:59 PM
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