The $7,500 contract was approved unanimously at the agency’s Oct. 3 meeting and will be funded through an escrow account by The Actors Fund Housing Development Corporation, which was conditionally designated as redeveloper of the property in May.
Livingston-based Value Research Group, LLC submitted a proposal Oct. 2 to perform an appraisal of the former Elizabethtown Gas building. The proposal anticipates completion of the field work, analysis and report within 30 days of the execution of the agreement.
The concept plan for the two-story building at 219 Central Ave. (Block 167, Lot 1) calls for 69 units and could come before the Planning Board later this year. The 1-acre property is currently owned by AGL Resources, the parent company of Elizabethtown Gas, and has an annual property tax bill of more than $30,000.