vacant buildings – 512 Pennsylvania Avenue and 475 Pennsylvania Avenue. Since the properties have no buildings or tenants, it would be much easier to acquire them for decommissioning than if they were occupied.
The Township should then focus on the five properties with potential for continued severe flooding whose owners have expressed interest in relocating or selling. These properties include 520 Pennsylvania Avenue, 425 Delaware Drive, 430/440 Virginia Drive, 565 Virginia Drive, and 1035 Virginia Drive. The property at 425 Delaware Drive is occupied by the building’s owner, potentially facilitating a TDR or other purchase agreement.
Considering TDR as a redevelopment tool not only requires an analysis of potential sending areas, but receiving areas as well. Memorandum #2 will inventory and analyze the properties in the FWOP (and other) that could be considered for redevelopment and the relocation of the above businesses as part of a TDR arrangement.
Technical Memorandum #1UDT: Characteristics of Flood-Prone Parcels