There’s a petition making the rounds in Cranbury (see Friday’s Press for details) seeking to get the Township Committee to put the question of whether the PNC Bank building should be purchased by the township back on the table.
The bank, which is for sale with a pricetag of around $1.4 million, has become a somewhat contentious issue, with supporters viewing it as a way to provide parking and expand library services and opponents seeing it as an unnecessary cost. It appears that opinion is split pretty equally, though that is not something that is easily determined.
A majority on the committee (Stave, Stannard and Stout) appears to favor a study, though a fourth would be needed to actually move ahead with the sale. And right now both Tom Panconi and Wayne Wittman oppose it.
Wittman, of course, has opted not to seek re-election this year and the bank sale could have an impact on the race for his seat — the same way that the Updike property decision helped Democrats several years ago.
We’ve come out editorially in favor of the purchase, though I can see the merit of both arguments. I still believe the purchase can work for the township, but not if it divides the community.
As a compromise, it would make sense to do a study that looks examines not just the initial cost but the cost of renovations and how borrowing to cover the purchase and renovations would affect the township’s credit and debt load.
Once that’s done, the committee should consider putting the PNC sale on the ballot in a non-binding referendum designed to gauge community interest.
What the committee needs to do is diffuse the bank as a divisive issue so that it doesn’t poison debate in town on other issues.
Hank Kalet 