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Tuesday, April 25, 2006

NO MORE TAX ABATEMENTS FOR NEWPORT!

From JCList Webmaster and fellow concerned JC resident, Dan Falcon:


This Wednesday the Jersey City council will vote on 2 tax abatements, a 20 year for a new Newport residential building and a 30 year for the American Can building that is being converted into apartments. Most of you are against tax abatements for luxury apartments, so am I.

Our councilman Steve Fulop indicated to me that he will vote against these 2 abatements but the rest of the council will most definitely vote in favor, they always do. Remember that while campaigning Mayor Healy was against tax abatements for waterfront property; this Newport building is at the rivers edge. However since his election the Mayor has supported every tax abatement on and off the waterfront.

The two questions I have for the council are:
1. Is it absolutely necessay for Newport to get a tax abatement for this project? NJ State Law states that tax abatements should be issued as an incentive to build in "an area in need of redevelopment". Check out this promotional material, mainly the second page under "Urban Incentives".

2. Where is the detailed financial analysis and projection that we can inspect showing the financial benefit that Jersey City receives from issuing this abatement verses the developer paying regular property taxes?

I urge all Jersey City, NJ residents to show up and speak out at this meeting. At last years Newport abatement vote this developer had 200 of its paid employees show up at city hall to back them and tell sob stories about how they love their jobs. Lets turn the table on them this Wednesday.
Wednesday April 26, 2006 6:30PM
City Hall Council Chambers
280 Grove Street
Jersey City, NJ

No need to get on any list to speak, comments are permitted before each vote by any city resident.

[via JCList]

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