Fort Monmouth redevelopers could leap a major hurdle this week toward making the property a new home for civilian businesses, jobs and tax revenue.
On Wednesday, the board of the Fort Monmouth Economic Revitalization Authority (FMERA) will meet for its monthly public meeting where it is scheduled to vote on approval of a Memorandum of Agreement (MOA) with the Army, one of the key pieces the state authority needs to move forward with plans for sale and redevelopment of the land.
As it stands now, the 1,100+ acre property sits virtually unoccupied behind the brick, steel and barbed wire fences erected when the site was an operational Army installation. Though Army packed its camoflaged bags more than a month ago, it still owns the property.
FMERA, the local redevelopment authority, has been working behind the scenes to lure investors to create new businesses and jobs to replace those lost when the Army began its exodus. Still, without the MOA it is unable to cut any deals since it doesn't actually have possession of the property yet.
If the board signs the MOA this week, the next step will be getting the Department of Defense to sign off on the transfer and redevelopment project.
The meeting will be held at the Tinton Falls Municipal Complex at 7 p.m. The public is invited to attend.