Oaklyn Considering Projects to Enhance Growing Business District

Local leaders in Oaklyn are planning to build a 45-space municipal parking lot, two residential lots and a corner pocket park to draw attention to its growing business district in the area of Kendall Boulevard and West Clinton Avenue, njpen.com reports.

The borough purchased the empty lot at that intersection for about $250,000 four years ago, and the projects should allow it to recover between $60,000 and $80,000 from the purchase, and make between $10,000 and $18,000 a year in future ratables, according to the report.

The borough may authorize a bond anticipation note to cover the cost of the project, and pay it off once the properties are sold.

Read more at njpen.com.