The Fort Monmouth Economic Revitalization Authority (FMERA) Board this month approved staff entering into an agreement to transfer certain Charles Wood area electrical facilities to Jersey Central Power and Light Company (JCP&L), a New Jersey public utility. This action will enable tenant companies and future property purchasers to work directly with JCP&L for their electrical services.
The agreement will transfer the Charles Wood electrical facilities to JCP&L in exchange for JCP&L’s agreement to operate and maintain electrical service to FMERA-owned facilities, and the facilities of tenants and purchasers of FMERA property in the Charles Wood Area. These facilities include a substation, poles, underground and above ground cables and transformers.
As part of the agreement, FMERA, its tenants and purchasers will meter their facilities and become direct customers of JCP&L. The master meter will be disconnected and each party will be billed by JCP&L according to actual usage.
“This agreement has been under negotiation since FMERA closed with the Army on the Phase 1 properties in 2014,” FMERA Director of Facilities Planning Rick Harrison said. “The transfer of these facilities to JCP&L will streamline the purchase and sale process, and allow FMERA to concentrate on marketing the remaining Phase 1 properties in order to achieve our goals of job creation and economic development.”
Note: FMERA Board action is subject to a ten (10) day veto period by the Governor.