Montclair Progressive or Corrupt

Montclair New Jersey does not have a senior center despite years of lobbying by residents. Finally, in 2024, a deal was struck with the Placek Family Foundation organized and operated by David Placek, the owner of BDP Holdings, LLC currently seeking a lucrative PILOT agreement to develop Lackawanna Plaza in Montclair Center with 300 apartments, plus extensive (unrentable) office space and a grocery store.

The Township of Montclair executed a lease with the Placek Family Foundation for space in the Mills Memorial Social Services Building in June 2024. Construction was scheduled to occur to carve out 4,400 square feet in the 38,000 square foot building.

The Township’s lease represents 12% of the square footage but the lease payments over the 10 year lease term exceed the total purchase price ($1,450,000) of the entire building by the Placek Family Foundation.

The renovation of the 4,400 square feet to accommodate the Senior Center was abandoned over a year later. Montclair Township Councilor D’Amato explained at his February 11, 2026 community meeting that Placek decided he didn’t want to do the renovation. How could this happen when Section 25.20 of the lease grants the Township the unilateral right to terminate.

The transaction between New Jersey Capital Corporation (“NJCC”), the former owner, and the Placek Family Foundation whereby the Mills Memorial Social Services Building was transferred to the Placek Family Foundation in January 2024 is rife with red flags like:

• The same attorney who attacked the CFO whistleblower and supported efforts by the Town to retaliate against her is the primary architect of the transaction.
• The building is required to be owned by a non profit 501(c)(3) organization. The Placek Family Foundation does not meet this requirement.
• The Township of Montclair claimed in 2020 that the Township did not have the resources to purchase the building, yet in 2024 signed a lease that exceeded the cost the Town could have purchased the building with bond financing.

Continue reading the complete analysis by clicking on the link Mills Memorial Social Services Building