OLD BRIDGE – Over the course of eight years, some $45 million in capital improvements have been invested back into the community of Old Bridge.
The 2019 capital improvement budget totals $6 million, which include improvements to curbs, drainage, equipment; facilities; parks; roads; and vehicles.
Business Administrator Himanshu Shah said one of the capital projects included in the budget is the development of Cottrell Farm Park, which spans 21.5 acres and is in the center of the township.
In December 2018, officials announced they are in the process of moving forward with plans to develop the property, known for its apple orchards, at the intersection of Cottrell Road (Route 687) and Route 516, as a passive and active park.
“Our goals and objectives are to make this a jewel of the town, a centerpiece where people want to enjoy life,” Mayor Owen Henry had said, noting approximately $8 million of taxpayer money has already been invested into the property.
In 2010, Cottrell Farm was acquired by Middlesex County in accordance with the Open Space Recreation, and Farmland and Historic Preservation Act, and the Middlesex County Open Space Plan. Additionally, the site is subject to the New Jersey Department of Environmental Protection Green Acres Program restrictions.
The Township of Old Bridge entered into a Conservation Management Agreement with Middlesex County on April 6, 2017, where the township accepted responsibility for security, liability, management and enforcement of the Green Acres Restrictions and enforcement of Middlesex County Park rules and regulations not inconsistent with the deed restrictions.
As part of the plan, township officials are working with French and Parrello Associates, an engineering firm based in Wall Township, and EI Associates, of Cedar Knolls, on design and preservation of the farm.
Henry said in 2011, before he came into office, his administration found zero dollars had been invested in capital improvements. Since then, a total of $45 million has been invested.
“It’s an amazing number. I think property values have increased because of it and Old Bridge has become a very desirable place to live,” he said.
Councilman-at-Large Brian Cahill said a capital improvement budget is what the public sees whether it is improvements to drainage, improvements to streets, or the purchase of police vehicles.
“This is what [the public sees], all the different things in town to make the town better,” he said.
Cahill said the capital improvement projects are only possible if township officials structure the budget in a certain way in which the town can afford to do the projects.
“It’s no surprise we are able to finance more because of our [Aa1 Moody’s] bond rating, because of our strong structure, because of the management of our finances and our budget,” he said. “Our municipal budget has allowed us to go out and effectuate more capital, which actually helps our town.”
The Township Council approved a bond ordinance on March 25 providing an appropriation of $6.1 million for the capital improvement budget and authorized the issuance of$5.78 million in bonds or notes of the township for financing of the appropriation.