Feedback sought on PNC bank buy

[news]

Feedback sought on PNC bank buy
By Maria Prato-Gaines, Staff Writer

Posted: Friday, May 2, 2008 10:43 AM EDT

CRANBURY — The Township Committee is looking for public feedback at its May 19 meeting concerning the possible purchase of the PNC bank property on North Main Street.

”Really it’s a community decision,” said Mayor David Stout, “So it’s key we get community input.”

The PNC bank property, 32 N. Main St., has been on sale since early April. The 8,700-square-foot building that sits on a little over 1-acre of land is appraised at $1.8 million and is listed for $1.395 million.

The Township Committee had an informal agreement with the bank that allowed downtown visitors to use 15 to 20 spaces in the PNC parking lot. That parking agreement would dissolve once the property exchanges hands and it would be up to the buyer’s discretion to renegotiate.

Supporters of purchasing the site have suggested that in the current buyer’s market the sale is reasonable for the township to retain the property to either lease out or use as a free standing library while at the same time retaining vital parking for downtown visitors.

Those who oppose the purchase have said buying the property would mean losing a ratable, that using it as a library wouldn’t generate visitors to businesses and the burden acquiring the property would cause taxpayers.

”We’ll listen to pros and cons and factor that into our decision,” Mayor Stout said. “Clearly, we want to gauge the sentiment of the community.”

The committee is scheduled to vote on the issue at its May meeting.

The Township Committee will hold the public discussion during its meeting which starts at 7 p.m. in Town Hall, 23-A N. Main St.

Township Administrator Christine Smeltzer said that presently there is no set agenda for the May 19 meeting, but that there could potentially be a vote on the issue that night. Interested parties who are unable to attend can e-mail their opinions on the purchase to Township Clerk Kathleen Cunningham at twpclerk@cranbury-nj.com.

http://www.packetonline.com/articles/2008/05/02/cranbury_press/news/doc481b213b6c390731213911.prt

[Guest]

[Guest]

Agree. In today's press there were two letters in support of the purchase which I am sure the TC members will use to validate their views. and means to spend money. Despite the fact that these letter writers use arguements that are only valid for a town with no library.

The letters highlight the value of a library to a downtown, but ignore the fact that if a library is already there then there is no additional increase in activity. To say the library would add more shoppers if they moved to the PNC location is akin to saying that if the 1st Presbyterian church moved to North Main we would be bringing more people into town.

They cite access to the library regardless of transportation. There is no difference between the library today and the PNC building. Shared services are valid because no one library except perhaps the Library of Congress and the NYC Public Library have everything one would need at one time.

It seems that the people in favor cite information that would only be valid if we had no library. No one disagrees that a Library in and of itself is a value and that it should be supported. However, there has yet to be one arguement that highlights the library in the PNC building provides a value that is not present in the current location.

If the library is to be purchased by donations from individuals than I will personally contribute and will support the move. But, not at the expense of tax payers and residents that are tightening belts on their own expenses during this recessionary period. Heck, I might even support the move if they get rid of the ball field idea.

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[eMale]

I'll send an email to Township Clerk Kathleen Cunningham (twpclerk@cranbury-nj.com) to oppose the purchase, because I don't want to use my tax dollars this way. Is that a good enough reason?

[Guest]

What I worried about now is that the freestanding library on the PNC site will signify the beginning of the end of low property tax for Cranbury residents. For the years to come, there will be projects like: freestanding senior center, regulation sized baseball field, more affordable housing units, more budget for the school and town, and eventually a Cranbury middle+high school.

I will be out of here before the high school is built.

[Guest]

Agree. One TC member told me that the fact our taxes are low is indicator that we have room to add items because our taxes are lower than WW, Princeton and others. That instead of complaining we should be thankful and supportive. To me that is not an invitation to purchase, but something to be proud of and try to keep going. It is aking to a child who is an A student then realizes the teacher grades on a curve. Instead of studying they realize they can do less and still get the A. So they stop trying as hard.

[Guest]

Can you please name that TC member? Even if there term is young, I want to remember this so I can not only vote against them but actively campaign for their defeat. That is really a shocking statement. It's worse than anything quoted to Rev. Wright recently by comparison in terms of outrageousness.

I hope a lot of people turn out for this meeting. I plan to adjust my work/NYC commute plans that day to be there and speak out against the library. For me it isn't about the library per se but it serves as a proxy, a line in the sand finally, to stand against discretionary spending by the township. We should have done this back at the Babe Ruth field, but here we are and you either have to take a stand eventually or just lie down and shut up as the consequences roll over you...

What time is the meeting and in what room?

[Guest]

What time is the meeting and where is it? I plan to be there to speak against it.

Hopefully people can organize into a large turn-out.

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[Guest]

If this property is such a good deal, why is it still on the market? Why is the town so eager to buy it?

[Guest]

[Guest]

I wish the town would instead call the Bank of Princeton and pitch the idea of a new branch, using a property tax reduction incentive as a carrot. The community would gravitate to that, and they're in expansion mode -- they opened a branch in Hamilton today.

[Guest]

I have seen reports that the concern is over 20 parking spaces which are used for public parking. Let's see if we spend 1.3 million for the property, that works out to over $67,000 per parking space. Uh I think we can find a more cost effective way to provide parking? Further Cranbury has 3500 residents. The library we have is more then sufficient for the size of the town. We are not a community of 35,000 which may need a stand alone library. We are however a community of 3500 with 21 million in debt.

Wake up Cranbury!

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Before the township spends large sum of tax payers money, please do some due diligence. If the TC can convince the tax payers that indeed we need to replace our library, then I am glad to support the idea.

Now, the TC wants the tax payers to convince them not to consider the purchase. I think the TC got their roles mistaken.

[Guest]

PNC Deed-restricted the property so that no bank or financial institution can ever open at this location again.