All Photos by SJO
The Governing Body of Somerdale Borough recently introduced an Ordinance that will repeal certain Ordinances and Resolutions concerning the Reserve at Grace Redevelopment Project.
Click to hear their message
SJO requested a copy of Ordinance # 2021-14 from Somerdale Borough Clerk, Michele Miller, and it was provided via email on November 1, 2021.
According to the Ordinance, the Reserve at Grace Urban Renewal, LLC is in default of its obligations under the agreements with the Borough.
From The Ordinance:
Notice of the defaults and the opportunity to cure were given to Reserve at Grace Urban Renewal LLC by letter dated August 12, 2021, which defaults included:
- Failure to pay for improvements to the church building as required by the Redevelopment Agreement;
- Failure to pay for all improvements as set forth in the Redevelopment Agreement;
- Failure to meet the completion date as set forth in the Redevelopment Agreement;
- Failure to remove the lien placed on the church property in violation of the Lease between the parties.
The above-noted default events have not been cured within the 30 days as allowed by the agreements.
Currently, the Reserve at Grace Urban Renewal LLC is in default of its obligation to pay the acquisition cost reimbursement of $70,535.48 as required by the Redevelopment Agreement.
The Reserve at Grace Urban Renewal LLC is currently in default of its obligation to maintain an escrow of $4,000 with the Borough pursuant to the Redevelopment Agreement.
It appears that the project has been abandoned as there has been no progress at the site in months and it does not appear that the Reserve at Grace Urban Renewal LLC has the financial wherewithal or technical skill to complete the project.
Somerdale Mayor and Council have ordained that in light of the repeal of the tax abatement, the borough’s tax collector is directed to recalculate the property taxes due on the property since the time the tax abatement took place as if there were no tax abatement on the property.
The Ordinance will be considered for Final Adoption after Second Reading and Public Hearing on November 10, 2021 at 7:00 p.m. at Somerdale Borough Hall, 105 Kennedy Boulevard.
To view the Ordinance, click the image below: