Much of the site is owned by Jersey Central Power & Light, and contains a four-story, 100,000-sf office building. Built in the early 20th century and expanded more than 50 years ago, the asset once served as a regional headquarters for the utility company.

But JCP&L moved most of the operation to a newer facility in nearby Middletown last year, leaving the building largely vacant and spurring the redevelopment action. Only about two dozen JCP&L employees are still on-site, compared to more than 300 when the building was at capacity.

The citizens committee will include a mix of local government officials, business people and owners of nearby property, according to Lori L. Osborn, who is this community's clerk, administrator and secretary of the planning board. "We see this as an opportunity to help this community grow," she says of the site, which is currently zoned for commercial and light industrial use.

And the result of the process could indeed have a major impact on this community, which has less than 800 permanent residents. JCP&L pays approximately $130,000 a year in taxes for the five parcels it owns within the site, a portion of which is a town park. But the tract, which actually measures 8.04 acres, is currently assessed at more than $10 million.

JCP&L officials have protested the redevelopment designation, which carries such legal alternatives as condemnation. Complicating the issue is the fact that the utility recently put the building on the market for sale.

But the designation gives local officials a number of state-level funding options, most notably a variety of state grants and funding under New Jersey's Smart Growth Act. As reported by GlobeSt.com, Acting Gov. Richard Codey last week appointed Patrick Gillespie, deputy director of the New Jersey Senate Democrats, to oversee the act as the state's smart growth ombudsman.