Planning Board Resolution Memorializing Executive Drive AINR #20-09

and 200 Executive Drive and 10 Rooney Circle. They have declined in both market value and assessed value substantially over the last twenty years. Township tax assessment records show that the total assessment value of property has declined over the last eight years. During that time, the percentage of the tax base attributable to commercial properties has declined while the residential percentage has increased. As a result of the declining assessed value of the property in the Township, the general and effective tax rates have increased. Higher property taxes impact housing affordability, and constrained municipal budgets limits public services. Both outcomes are detrimental to the general welfare of the residents of the Township of West Orange. Based upon the above findings of fact, the Board concludes as follows: 1. CONCLUSIONS Block 155, Lot 40.02 (100 Executive Drive) ; Block 155, Lot 42.02 (200 Executive Drive) and Block 155, Lot 41.02 (10 Rooney Circle) evidences conditions which fall within criteria set forth in Section 5 of the Local Redevelopment and Housing Law (N.J.S.A. 404:12A-5), specifically, criteria “b” and “d” of said statute. Said conditions are detrimental to the safety and general welfare of the Township; and With the proper re-development, the area will enhance the public health, safety and general welfare of the community. NOW, THEREFORE, be it resolved that the Planning Board of the Township of West Orange hereby recommends to the Township Council that the properties identified on the current Tax Map of the Township of West Orange as Block 155, Lot 40.02; Block 155, Lot 42.02 and Block 155, Lot 41.02, be designated a non-condemnation area in need of redevelopment according to the criteria set forth in N.J.S.A. 40A:12A-5. BE IT FURTHER RESOLVED THAT copies of this Resolution be forwarded to the Township Clerk for the attention of the Township Council. The above is a memorialization of a motion which was duly seconded and passed by the Planning Board of the Township of West Orange at a public hearing, at which a quorum was present, held on November 19, 2020, on the following vote: (40908317:4}