By Laura D.C. Kolnoski
FREEHOLD–As of 1:15 p.m. Thursday, Nov. 17, the United States Army no longer owns Fort Monmouth, or has any say in its future development. In a low-key ceremony, county officials, members of the Fort Monmouth Economic Revitalization Authority (FMERA), and Army representatives signed a series of documents under the guidance of attorneys that finalized a formal purchase of “Phase 2” fort land for a single payment of $33 million. The funding was provided from notes issued by the Monmouth County Improvement Authority.
“Monmouth County has never done anything of this magnitude,” said Freeholder Director Thomas Arnone, who accepted the deed to the fort with Freeholder Lillian Burry, the county’s FMERA representative. “I think it’s the best thing we’ve done. The fort will be viable and an economic engine for the county.” The transfer allows FMERA to take possession of the remaining 560 acres of the 1,127-acre fort, and close on executed contracts for the Officer Housing, Russel Hall, and the Fitness Center, accelerate closing of six other pending projects, and transfer the Avenue of Memories (Route 537) to the county, expected within weeks.
Among the county officials witnessing the transfer in the freeholder’s conference room at the Hall of Records were County Administrator Teri O’Connor, Director of Public Works and Engineering John Tobia, and County Engineer Joe Ettore. FMERA top brass attending included Chairman James V. Gorman, Executive Director Bruce Steadman, Director of Real Estate Development Dave Nuse, and Director of Facilities planning Rick Harrison. The U.S. Army’s representatives were Noreen Dean Dresser, chief of the Real Estate Division of the U.S. Army Corps of Engineers, New York District; and Mynor Pivaral representing the Department of Defense. Most have worked on the fort’s redevelopment for six years or more.
“The long hours and many months I have worked with everyone here to get to this day have been a profound pleasure,” Dresser said, adding, “The Army thanks you all.” Gorman credited Burry with creating the financing plan that made the transfer possible sooner than originally anticipated, eliminating bureaucratic red tape that slowed or stymied progress.
“Lillian had the great idea for the financing and stuck with it,” he said. “Since its inception, FMERA has aimed to spur economic development and job creation, and to revitalize the region after Fort Monmouth was shuttered. With the purchase of the Phase 2 properties, and working with the freeholders and the mayors of the three boroughs, (Eatontown, Oceanport, and Tinton Falls) FMERA will accelerate its proactive approach to attracting developers to the fort and bringing jobs back to the county.”
FMERA began marketing Phase 2 parcels prior to the transfer based on strong interest and demand for real estate development opportunities in Monmouth County, officials said. Mixed uses in the Phase 2 redevelopment plans include residential, retail, office/research and development, and open space.
“We have several companies anxious to start redeveloping Phase 2 parcels and closing with the Army brings them closer to putting shovels in the ground,” Steadman said. For some 90 years, Fort Monmouth served as a center for development of communications technology, intelligence, and reconnaissance services for the U.S. Army.
“This is an historic day,” Burry said, recalling traveling to Washington, D.C. to “brainstorm how to buy the Army out.” Burry noted that after the proposal was accepted, many more steps had to take place. “Monmouth County’s AAA bond rating made this possible,” she said. “The state has been downgraded so they couldn’t do it, but we could.”
Although she wasn’t in attendance, Lt. Governor Kim Guadagno issued a statement after the closing: “For generations, Fort Monmouth stood as a bastion of economic activity in Monmouth County. Redevelopment underway has already brought investment and employment opportunities back to the fort. FMERA’s purchase of the remainder of the property is the next step in restoring the area as the hub of innovation that it once was.”
Over the next ten years, FMERA intends to complete the Redevelopment Plan, creating up to 10,000 jobs and an overall build-out valued at over $1.5 billion.
