Apartment complex owner cuts deal with PSE&G

Hundreds of Prospect Towers tenants were forced out of their homes when Public Service Electric and Gas (PSE&G) cut the lights last Thursday, but now

EAST ORANGE - Hundreds of Prospect Towers tenants were forced out of their homes when Public Service Electric and Gas (PSE&G) cut the lights last Thursday, but now a deal has been reached with the utility to keep residents in their homes.

Last Friday the Condo Owners Association took the drastic move of declaring Chapter 11 bankruptcy in order to keep the lights on and buy some time. Tenants then got a measure of comfort at Tuesday's board meeting when one owner contributed $140,000 toward the $217,000 owed to PSE&G.

According to residents, PSE&G is demanding that Prospect Towers pay $150,000 up front, and the rest of the balance within 30 days.

The vice president of the Condo Owners Association at Prospect Towers declined to speak with News 12 New Jersey about the deal that he made after racking up the big bill.

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