HPHA Neighborhood News

Wednesday, June 17, 2009

Speak up about more PILOT concessions for luxury developers

HPHA members and neighbors may want to attend tonight's city council meeting, to speak up about the issue of revising PILOT agreements (abatements) to favor a luxury condo developer.

The Jersey City Council is set to vote tonight on whether the developer of a luxury condo tower on the Jersey City waterfront can revise its PILOT agreement with the city due to slow sales.

Ward E Council member Steve Fulop notes, "If the council gives Crystal Point a break due to the economy, every development project in the city will ask for the same." And the New Jersey Policy Perspective, a think tank that is due to release a study on Jersey City's tax abatement policy next month, agrees.

You can read the Jersey Journal story online for more details.

The topic is expected to come up by 7pm - please be at City Council chambers by then if you wish to speak up about this issue.

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