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Move Made In Merrill Settlement

Business Brokerage The township committee has taken the first step toward implementing an out-of-court settlement with Merrill Lynch by unanimously introducing an ordinance to restore commercial zoning to 200 acres of 440 acres of land the financial giant owns on the west side of Scotch Road.

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Forex Broker The ordinance was introduced Monday night. The committee will hold a public hearing and vote on the measure later this month.

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Online Brokerage If approved, the rezoning would pave the way for Merrill Lynch to begin plans for a 1 million-square-foot office park across the street from its corporate campus.

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Real Estate Broker If the company's design plan is approved by the township planning board and the state and county agencies that must sign off on various aspects of the project, Merrill Lynch will honor its part of the settlement deal by giving the township 170 acres of land on the west side of Scotch Road.

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Agency Brokerage Spark The township entered into the agreement with Merrill Lynch as settlement of a four-year legal battle over the zoning of 200 acres of the corporation's land. The company filed suit when the township rezoned the land from commercial to residential use.

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Business Broker In July Merrill Lynch offered to drop the suit and donate 170 acres of the land if the township restored commercial zoning to 200 acres. The remaining 70 acres would remain zoned for residential development.

Brokerage Account Half of the 1 million square feet of development allowed on the west side under the settlement would be transferred from the east side of the road that has already received approval for development, but has not yet built.

Stock Broker If Merrill Lynch had prevailed in court and commercial zoning had been restored to the entire parcel, the company could have built up to 3.5 million square feet of office space on the land.

Brokerage Online Stock Trading Trenton Times - 11/10/2004

Topic: Sprawl

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