TINTON FALLS — The Fort Monmouth Economic Revitalization Authority (FMERA) unanimously approved a three-month working budget for 2010 at its first meeting on Sept. 28.
Timothy Lizura, interim executive director of FMERA and senior vice president of business development with the state Economic Development Authority (EDA), said that the budget totals $1,519,039 for the period of Oct. 1 through Dec. 31.
According to the budget memorandum from Lizura, the budget projects that $345,006 will provide for the salaries and benefits of the 14 Fort Monmouth Office personnel involved in the redevelopment of the fort property.
Lizura projects that seven employees would start Oct. 1 with the remaining seven beginning work on Nov. 15.
Ninety percent of the budget, $1,310,887, is projected to be funded through a federal grant through the U.S. Office of Economic Adjustment within the Department of Defense.
The projected 10 percent local match, $145,652, will be paid from funds transferred from the Fort Monmouth Economic Revitalization Planning Authority (FMERPA), according to the budget memorandum.
“The budget also contemplates significant contractual expenditures for the office,” Lizura said.
FMERA inherits from FMERPA one of these contracts, the contract for planning, engineering, architectural and environmental consulting services with Matrix Design Group.
That contract will generate the information the authority needs to effectively negotiate with the Army and put the authority into a position to redevelop the property, Lizura said.
The memorandum cites the total fee for the service at $865,900, $649,425 of which the budget projects to be paid in 2010.
Interim chairman Alfred Koeppe, who is also chairman of the board of the EDA, said that he was satisfied that the budget numbers were reasonable. The authority unanimously passed the budget.
Lizura said he projects the 2011 budget to be approximately $3,956,818.
Koeppe said he would prefer to wait to approve the 2011 budget until the audit committee, which will not be formed until the authority’s additional three members are appointed, reviews it.
“For 2011, I, for one, would be more comfortable… if we have it reviewed by the audit committee of this board,” he said.
FMERA consists of nine members, three of whom have yet to be appointed by Gov. Chris Christie. The authority includes the mayors of Oceanport, Eatontown and Tinton Falls, a member of the Monmouth County Board of Chosen Freeholders, a representative of the governor’s staff, and the chairman of the EDA.
More information on FMERA and all pertinent documents, including the budget document, are available at www.state.nj.us/fmerpa.