Ewing $2.185 million richer after Princeton South tax deal - The Trentonian (trentonian.c...

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The Trentonian (trentonian.com), Serving Trenton, NJ

Business

Ewing $2.185 million richer after Princeton South tax

deal
Wednesday, March 10, 2010

By JOAN GALLER
Stafff Writer

EWING — The township’s coffers swelled by $2.185 million last night, thanks to a tax appeal settlement reached with
Princeton South Development for former farmland that now supports the new FMC Corporation facilities.

Terms of the settlement were unanimously approved by the Township Council at a meeting that also saw the:

-- Introduction of an ordinance to increase sewer rates for large users to make up a $200,000 shortfall in revenues.
Major companies, apartments and condos are affected. There will be a public hearing at the March 23 council meeting.

-- Adoption of an ordinance expanding the Fire Advisory Council from five to 13 members.

-- Rejection of all bids to renovate the historic Kahn pool house because they exceeded available grant funds.

Under the terms of the tax settlement, Princeton South will pay Ewing property taxes of $2.158 million, broken down to
$358,000 for half of 2009 and $900,000 for both 2010 and 2011.

The taxes are based on the new $20.8 million value placed on the FMC lot in Princeton South following its
reassessment from former farmland to office park use.

The council rejected all bids for renovation of the township’s historic pool complex because the lowest bid exceeded the
$400,000 available from grants to pay for this work.

The township is expected to seek additional funds from the county for this work, but the pool will still open for the coming
summer season.

The council unanimously adopted an ordinance increasing the size of the Fire Advisory Council from five members to 13
members, each serving a one-year term.

The expanded council now consists of the three volunteer company fire chiefs and their three presidents; three civilian
members from each of the three fire zones, all appointed by the mayor; the township business administrator; the captain
or supervisor of the township-paid fire staff; Ewing council’s president or a designee; and the mayor or a designee.

URL: http://www.trentonian.com/articles/2010/03/10/business/doc4b9755536cc19889292941.prt

http://www.trentonian.com/articles/2010/03/10/business/doc4b9755536cc19889292941.prt 3/10/2010