FMERA seeking early sale of fort properties
With Fort Monmouth’s closure rapidly approaching, officials with the Fort Monmouth Economic Revitalization Authority (FMERA) are stepping up efforts to sell off portions of the 1,129-acre property.
At the authority’s June 15 meeting, Frank Cosentino, director of plans and programs for FMERA, explained that the Army is preparing a FOST(Finding of Suitability to Transfer) for three sites on the property: the Sun Eagles Golf Course, the Howard Commons housing area, both Eatontown, and the Fort Monmouth Marina in Oceanport.
“They must have a FOST, which is in essence a clean bill of health for each of the properties,” he said.
Matrix Design Group, the consulting firm hired to help implement the fort reuse plan, is studying the sites, and the transfer of property from theArmy must be approved by the N.J. Department of Environmental Protection (DEP).
“Once those FOSTs are evaluated and approved, that will clear the way for the transfer of property to us and then to a prospective buyer. So, there is a very defined and closely followed process here, not just some random transfer of property,” Cosentino said.
According to Cosentino, representatives from theArmy met with FMERA officials in May to discuss, among other matters, opportunities for job creation through the early sale of the properties.
“We understand that one of our primary goals, if not the primary goal, is to establish jobs,” Cosentino said. “And that can be done with the enticement of entities coming here and opening their businesses or transferring businesses.
“We have an expectation of FOST by November of this year. We have also been discussing with [theArmy] a draft memorandum of agreement, which is a guideline document of the major points, which will allow us to move forward with the sale and lease of the properties,” Cosentino explained.
“It also will address the apportionment of any sales revenue, which may be generated by the sale of these prospective properties.”