Options for Cochran Discussion Released

, a public meeting will be held Aug. 15 at 7 p.m. at Domont Municipal Center to discuss options and alternatives has formed regarding the West Liberty Avenue business plan proposed by .

Three options have been discussed.

The first option is to take no action, make no land swaps, and not create a Tax Increment Financing (TIF) District.

The TIF District is part of #1 Cochran's proposed plan, and was proposed as a way to pay for new parking lots, or for construction of a Transit Oriented Development (TOD) where the current train parking and borough lots are located, adjacent to the Nissan dealership.

The second option is to execute a land swap but not implement a TIF district, and the third option is to execute the land swap and implement a TIF district. The third option is the recommended option, and would be the most beneficial to the borough, as per the borough's report.

More detailed reports on the options, as well as an analysis of the pros and cons, and the costs for each option, are attached to this article in PDF format.

Borough manager Jeff Naftal said there will be time for comments from the public after each presentation at the Aug. 15 meeting. Any questions that can not be immediately answered at the meeting will be addressed within a week from that date.

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