Village Council members are scheduled to introduce a $2.9 million bond ordinance for purchase of the Schedler property during tonight’s regularly scheduled Public Meeting. The $2.9 million would cover property purchase only; improvements necessary to convert the parcel to athletic playing fields would be extra.
The Village has already received a $1 million grant from the Bergen County Open Space fund for purchase of the property; other grants may be forthcoming (the operative word is “may”). If no additional grant money is awarded above and beyond the Bergen County Open Space award, Ridgewood’s taxpayers will be obligated to cough up as much as $1.9 million.
The Schedler tract is located at the intersection of West Saddle River Road and Route 17. Current assessed value of the entire parcel is $2,597,500.
Village Manager Jim Ten Hoeve previously indicated his desire to purchase an adjacent parcel owned by the Shotmeyer Oil Corporation along with the Schedler purchase. That parcel, located on Route 17 northbound, is currently assessed at $67,500.