Police Search for Lawrence Man Missing in Jersey City: Police are searching for a 26-year-old township resident who disappeared in Jersey City this past weekend while spending some time with friends, police said. Former State Senate Candidate from Jersey City Arrested on Charges of Witness Tampering, Making Terroristic Threats: A former state State candidate from [...]
The 20-year tax abatement incentivizing Goya Foods’ new facilities in Jersey City was narrowly approved at Wednesday night’s City Council meeting when a divided council voted for the measure, 5-2-2. But the PILOT agreement, which will generate approximately $19 million over the life of the abatement as well as maintain at least 250 jobs at [...]
Goya Foods will construct a new warehouse and distribution plant in Jersey City with significant subsidies sweetening the deal, including an $80 million Urban Transit Hub Tax Credit from the state and a 20-year tax abatement from the city — perks that do not sit well with some residents and policy experts, despite Goya’s promise of revenues and job creation.
New questions are being raised this week about a $15 million deal for land behind the Jersey City Medical Center after it was revealed that the deal may be contingent on the developer being granted a generous tax abatement. UPDATE: SEPTEMBER 14 at 5:20 PM: The deal has been “put on hold indefinitely,” according to the JCRA.
A hallmark of the current administration has been attracting financial services firms up-and-down the Hudson River with tax abatements and preferential treatment. Our waterfront is littered with high rises and eateries as the upper class descend on the now sought-after real estate. But where is the social responsibility from our “corporate partners” from these investments [...]
Saying he was sympathetic to the “trepidation” felt by residents, Steven Rubinstein, the principal tax assessor for Realty Appraisal, sought to address first and foremost what most of the public’s questions boiled down to: “Why would the city undertake a revaluation at this time?”
The sale of two Exchange Place office buildings for about $310 million “translates into a record $375 a square foot,” real-estate research firm Real Capital Analytics tells the Wall Street Journal in a story today (the item is hidden behind the Journal‘s paywall). The buildings, at 70 and 90 Hudson Street, were sold this week [...]
The City Council on Wednesday easily approved the transfer of two tax abatements for Exchange Place-area office buildings, despite calls by Ward E councilman Steven Fulop for the city to fight the deal in court.
Millions of dollars in potential one-time revenue for Jersey City failed to materialize at last Monday’s City Council caucus meeting when it was revealed that a fee often assessed to the transfer of tax abatements was not included in the initial agreement concerning two soon-to-be sold office buildings looking to transfer their abatements.
UPDATE, January 6 at 7:40 am: The union now says it does not support the administration’s “pay lag” proposal, telling the Journal that it is “extremely convoluted,” and saying the administration “need[s] to have a clearer statement of what it is, and more details.” Just a few days after Jersey City gave layoff notices to [...]
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