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DEFENSE COMMUNITIES 360

Army, LRA Closing in on Deal to Transfer Ft. Monmouth

  • October 24, 2011
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An agreement on the transfer of the former Fort Monmouth to the Fort Monmouth Economic Revitalization Authority could be reached next month, according to the LRA’s executive director, Bruce Steadman.

The Army and the LRA have been close to an agreement for several months, though, so it is possible the latest target may have to be pushed back. “It has been an excruciating process with our friends at the Army, but we are getting close,” Steadman told the audience at a recent board meeting, according to MiddletownPatch.

A business plan for the authority also is close to being completed. Meanwhile, the LRA continues to market the property. Data center companies, firms involved in biotech and other hi-tech fields, and recreational companies have expressed interest in the property so far, according to the story. The authority plans to hire a broker to market the site.

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