UPDATED: JULY 15, 2012
Township Council Unanimously Approves Office Space
in New Roma Bank Building on Route 33
ROBBINSVILLE, NJ - On July 12, 2012, Township Council unanimously approved an ordinance authorizing Robbinsville Mayor David Fried to negotiate the purchase of 10,000 square feet of space in Roma Bank’s second building in Town Center on Route 33 for the purpose of relocating the Township’s municipal and administrative offices.
Financing will be through the sale of municipal bonds.
Pending approvals and financing, groundbreaking is tentatively scheduled to take place in August of 2012, with an anticipated completion date of January, 2014.
“Any time you can own rather than rent real estate, that is the ideal scenario,’’ Mayor Fried said. “We want our municipal offices to be in Town Center and truly take part in the redevelopment of that area. We are now poised to take a big step in that direction. Depending on the interest rate we receive, we are likely to be paying less monthly on the new mortgage than we will be paying in rent over the final two years at our existing location.''
The Township has been leasing space at 1 Washington Boulevard since 2005. Purchase of the new space will be a much more favorable cost benefit to the Township and residents in the long term. The proposed purchase also comes with the added benefit of attracting new tenants to Roma’s yet-to-be-constructed building.
"The Township’s commitment to purchase a floor of the proposed building is enough assurance for Roma Bank to build another new building in Town Center,'' Mayor Fried added. “Our commitment paves the way to increase our commercial ratable base. Another positive aspect is this project will generate jobs for our local building trades. This is yet another example of the public and private partnerships we have cultivated over the years being utilized to move our township forward.''