The developer of a 5-story complex under construction downtown will be responsible for almost $42,000 in streetlight improvements.
PSE&G presented the city with an outdoor lighting service agreement and cost summary of $41,572.46 for the construction of six poles and luminaires around Main and Monroe streets. Meridia Lafayette Village is a five-story, 115-unit rental development under construction at the corner of Main and Monroe streets, expected to be completed by spring 2016.
As part of the redevelopment agreement approved in October 2012, Capodagli Property Company (working under the name Meridia Lafayette Village Urban Renewal Rahway, LLC), is responsible for paying for the installation of certain street lighting improvements before they are accepted by the city, according to the resolution. PSE&G requires that the city execute the agreement and that certain upfront costs be paid before PSE&G can process the job and order the necessary material for the project.