The city would be smart to create a Planned Unit Development (PUD) for the Sears property, with a density bonus exceeding the current zoning for the main lot, and their parking lot on the east side of River Street should be transferred to the City of Hackensack and added to Johnson Park, at no cost. This is legal, it can be done.
People think that parking lot is part of the park. It is not. It would be an ugly jolt to the City of Hackensack if that parking lot was ever developed. Now is the time for smart planning on this one.