Want Netflix to move ahead on Fort Monmouth studio plan? It needs these two roads first.

OCEANPORT - Netflix needs to take ownership over two public roads for its film and production studios at the former Fort Monmouth.

If it can't get them, it could technically walk away from the fort though, that sounds like a very unlikely outcome.

Netflix is officially out of the due-diligence period for the purchase of the Mega Parcel. The streaming giant is under contract to buy the fort's roughly 300-acre Mega Parcel and build 12 sound studios for film and TV production. The total investment is almost $1 billion.

It's now in the next phase, a 36-month approval period where it will need to go through the mandatory conceptual review process with the Fort Monmouth Economic Revitalization Authority (FMERA) and site plan review at the planning boards for both Eatontown and Oceanport along with Monmouth County. It also needs permits during this phase from several local, county and state entities. Only then can it close on the deal and move on to construction.

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However, it was unable to negotiate the terms with Monmouth County to vacate the roads it needs before the deadline, which was before the first day of the approval period. As such, Netflix asked FMERA for more time to work this out, or in a worst-case scenario it could terminate the contract and walk away from the Mega Parcel.

One road that is critical to Netflix's studio plan is Wilson Avenue, which is in the middle of the Mega Parcel and cuts through Oceanport, Eatontown and crosses Route 537, know locally as Saltzman Avenue or the Avenue of Memories. The other is Malterer Avenue, which runs parallel to FMERA's administrative offices and also touches Route 537.

The Avenue of Memories itself, however, is not one of the roads being discussed for a vacation.

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On Aug. 28, Netflix contacted FMERA and said it did not anticipate finalizing the agreement with the county prior to the expiration of the due-diligence period set to expire on Sept. 14. On Wednesday however, at FMERA's monthly meeting, FMERA granted more time to negotiate the road vacations.

"FMERA, Monmouth County and Netflix remain committed to finalizing an agreement as soon as possible so that Netflix may incorporate the vacated roadway into its site and create a cohesive campus beginning at Route 35 through the existing McAfee parcel," said Kara Kopach, FMERA's executive director.

A county spokesperson said the county "does not generally comment on negotiations, which are ongoing, however, the county is working tirelessly to aid Netflix and FMERA in their efforts to complete the transaction. We are confident a resolution will be reached to finalize the acquisition.”

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FMERA also said that Netflix is "moving forward with good-faith efforts" to finalize its concept plan for its production studios.

It's a long road ahead, though, filled with nuances and tons of paper work. The studios could take 10 years for a total build out, starting from when Netflix entered into a contract with FMERA to buy the property in December 2022. That's if Netflix exhausts every extension, or gets delayed by red tape.

For example, it needed an extra 45 days on top of the maximum 150 days it was allotted to complete its due diligence. FMERA had to grant an amendment to the purchase contract for the extra 45 days.

Much like buying a home, the due-diligence period permits the potential purchaser — in this case Netflix — to access and investigate the property and terminate the deal for any or no reason at the purchaser’s sole discretion.

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The reason for the 45-day extension on the due diligence period was the sheer magnitude of the property and the many challenges dealing with several defunct former Army buildings and old infrastructure. Specifically, Netflix said it needed more time to do complete title searches, surveys, traffic mitigation, environmental testing, plan its energy and power sources and emergency services arrangements.

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When Jersey Shore native Dan Radel is not reporting the news, you can find him in a college classroom where he is a history professor. Reach him @danielradelapp; 732-643-4072; dradel@gannettnj.com.

This article originally appeared on Asbury Park Press: Netflix moves to next phase of Fort Monmouth studio plans, wants roads