GVR Developer Selection Process Wrapping Up

A subcommittee is scheduled to meet this week to begin the final stages of identifying the company that will purchase and redevelop the five-acre Green Village Road School property, Madison Councilman Ben Wolkowitz said Monday.

The Green Village Road Redevelopment Committee, which is comprised of school and municipal officials, is scheduled to meet at 4 p.m. Wednesday. It is reviewing proposals from three possible redevelopers:

• LCOR of New York City
• The KRE Group of Bridgewater
• JMF Properties, Cedar Knolls

The meeting is not open to the public and no developer would officially be selected at the meeting. Members of the subcommittee report to the Board of Education and Borough Council. The Borough Council ultimately would be the governing body that votes to name a redeveloper for the site. The Board of Education, which owns the property, would vote to convey the property to the borough if it is satisfied with the deal.

The borough hopes to close the deal this year, Wolkowitz said.

The committee announced in October that it was ready to receive final proposals.

Mayor Bob Conley and Board of Education President Lisa Ellis have said the committee members were working closely together to maximize the short- and long-term benefits to the community.