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Wed, Nov

Hopatcong Mayor set to Sign a New Community Center Lease

Hopatcong News
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According to reporting by the NJ Herald a new proposed community center will be located in the Rite-Aid complex.

All that is needed is for the Mayor Michael Francis to sign the lease for the space, which is targeted for a community outreach and counseling center.

According to Real Estate pricing in Hopatcong the average cost per square foot is $1.09 (LoopNet), and the current deal is for $0.58 cost per square foot, which is 47% lower than the going rate.

The only abstaining vote at the Oct. 17 council meeting was from Councilwoman Marie Galate, who was uncomfortable with several items, including the lease agreement terms for the 1,500-square-foot space within the Hopatcong Plaza Shopping Center at 47 Hopatchung Road.

Monthly rent will translate to 6.593 percent of the real estate taxes due for the space -- or $869.20 monthly -- and the borough will also pay 6.593 percent monthly for water and sewer costs for the space. The borough will be charged an annual flat fee of $600 per year for trash removal, payable at $50 monthly.

Galate and Councilman John Young were concerned with the lease's three-year term, commencing on or about Feb. 1 and concluding on or around Jan. 31, 2022. Galate said she had concerns of being locked into a lease if the need for the community center dwindles during the lease period.

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