Proposals aimed at acquisition of a portion of the Regan property for open space and the Pennytown Shopping Village tract, for affordable housing
By Ruth Luse, Managing Editor
On Monday, Oct. 27, the Hopewell Township Committee plans to adopt two bond ordinances, after holding a public hearing on each.
The meeting will be held at the Municipal Building, beginning at 7 p.m.
The ordinances are:
— A bond proposal that provides for the acquisition of a portion of the Regan property, which is 14 acres in size and located at the corner of Route 579 and Harbourton-Woodsville Road , for open space. It appropriates $600,000 and authorizes the issuance of $570,000 bonds or notes.
— A bond proposal that involves the acquisition of the Pennytown Shopping Village. The measure appropriates $7,000,000, and authorizes the issuance of $6,650,000 in bonds or notes. The remaining $350,000 would come from the township’s Affordable Housing Trust Fund, not taxpayer dollars. The trust fund money comes from developers from fees imposed on all new building (residential and commercial) in the township.
The site could be used for an affordable housing project. The Pennytown tract, a 25-acre parcel with frontage on Marshalls Corner-Woodsville Road and Routes 654 and 31, has an on-site wastewater treatment plant (14,000 gallons per day) that could service up to 60 affordable units, according to Mayor Vanessa Sandom.

