Posts Tagged ‘tax abatements’

Wednesday Morning News Roundup

By • Jan 18th, 2012 • Category: Blog, News

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 [...]



City Council Approves 20-Year Tax Abatement for Goya’s New Facilities in Jersey City

By • Nov 11th, 2011 • Category: Featured, News

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 [...]



Controversial Incentives Lure Goya Foods Facility — and Revenues — to Jersey City

By • Oct 27th, 2011 • Category: Featured, News

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.



Jersey City’s $15 Million Land-Sale Deal May Hinge on Tax Abatement

By • Sep 14th, 2011 • Category: Featured, News, Politics

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.



Jersey City Insight: Missed Opportunities

By • May 19th, 2011 • Category: Blog, Jersey City Insight

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 [...]



Firm in Charge of Jersey City’s Property Revaluation Explains the Process at Public Meeting

By • May 4th, 2011 • Category: Featured, News, Politics

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?”



Exchange Place Office Buildings Get ‘Record Price’ in Sale

By • Apr 13th, 2011 • Category: Blog, News

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 [...]



Jersey City Approves Two Tax Abatement Transfers, but Initial Deal Means it Won’t Collect Lucrative Fee

By • Feb 11th, 2011 • Category: Featured, News, Politics

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.



Jersey City Will Receive $50K, Not Millions, from Latest High-Profile Tax Abatement Transfer Deal

By • Jan 31st, 2011 • Category: Featured, News, Politics

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.



As Layoffs Loom, Jersey City’s Police Union Agrees to Part of Healy Administration’s Settlement Offer

By • Jan 5th, 2011 • Category: Blog, News, Politics

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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