In the meantime, the planned development has yet to break ground on 162 acres on Sibley Road. Called Westchester Farms, the development was supposed to include 262 homes and 64 townhouse condominiums. The township only has enough money in its water and sewer fund to make the Nov. 11 interest-only payment of $175,000. In 2012, it will owe $350,000 for the bonds and in 2014 the payment will increase to $969,000 when the principal payments start to kick in.
The suit is a result of an agreement between a previous township administration and the developers in 2000, which established special assessment districts that were scheduled to collect $8 million to pay for new sewer and water systems for a planned development on 162 acres on Sibley Road, which was never started. Westchester Farms was to include 262 homes and 64 townhouse condominiums.
