Twp. forms economic task force BY DAN NEWMAN Staff Writer MIDDLETOWN - The township has created a task force that will be responsible for finding ways to attract and retain businesses. The Economic Development Task Force will include township administrators, planners, residents, business owners and a representative from the Northern Monmouth Chamber of Commerce. Recommendations by the task force will be forwarded to the Township Committee. "We're going to be looking at every inch of town. We want to look at commercial properties that are either vacant or underutilized," Mayor Gerard Scharfenberger said. "We want to make sure that we do our very best to look at every option out there." Officials say it is the latest in a series of steps taken by the committee to minimize the burden of property taxes on residents. The township is expected to refinance $16.3 million in existing bonds this month to take advantage of lower interest rates, which would produce a savings of $179,000 this year and a total of $432,000 by the year 2022. "We need to strengthen the township's business community in order to retain the high quality of life that Middletown residents expect and deserve," Scharfenberger said. "Expanding the tax base to include a greater amount of active commercial and industrial properties will help to minimize property tax burdens on existing residents." One type of economic development that Middletown is currently working to revitalize is the fishing industry in Belford. At the present time, the township is conducting a feasibility study to determine its redevelopment options in this area. The study is slated to be completed by August. The Township Committee is also trying to encourage other Monmouth County municipalities to enact resolutions that urge the state to reform state tax policies, employee pension and health benefit mandates, tax formulas, state aid to schools and other expensive state directives and mandates. "We will continue to do all we can on a local level to maintain a stable tax rate and minimize property tax increases to the greatest extent possible," Scharfenberger said.