Moorestown Council To Discuss Agreement With Pennrose Monday

MOORESTOWN, NJ — Moorestown Council will consider a resolution to authorize a memorandum of understanding (mou) with Pennrose during a special meeting that is open to the public Monday morning at town hall, township officials announced Friday afternoon.

The resolution would authorize a memorandum of understanding that would establish the parameters of a continuing relationship between the township and the developer, according to the announcement published by the township on Nov. 1.

The memorandum recognizes that Pennrose intends to end its litigation involving lift a restrictive covenant so it could move forward with a 76-unit affordable housing development on Meadow Drive.

Pennrose would also support the township as far as its plans to satisfy its affordable housing obligation, and end its pursuit of the development on Meadow Drive altogether, according to the announcement.

In exchange, the township intends to work with Pennrose on its 76-unit affordable housing development at the corner of Harper Drive and East Gate Drive, near the Moorestown Mall.

The site was identified after township officials said they were unable to come to a satisfactory agreement with the owner of the Miles Technology Site, which was originally selected to replace the Meadow Drive site.

The memorandum of understanding is nonbinding and has not yet been executed, but is being advanced in a public setting to formally give notice to those who are concerned, including the residents who were the subject of Pennrose’s lawsuit.

A more formal agreement between Moorestown and Pennrose will be prepared and will be the subject of a future council meeting, officials said.

The meeting will take place on Monday morning, Nov. 4, 8 a.m. in council chambers at town hall, 111 West Second Street. Formal action will be taken.