.City Council extended a tax abatement agreement that was set to the expire at year’s end for a 55-year-old high-rise building.
Tag Archives: PILOT
The Mint likely to be sold soon
City Council approved the transfer of The Mint’s financial agreement with the city, including the 30-year Payment In Lieu of Taxes (PILOT), paving the way for a likely sale of the 225-unit building soon.
Nearly fully occupied, The Mint is for sale
The Mint, a new 225-unit complex downtown, is at nearly 100 percent occupancy across its two buildings — and has been for sale for months.
Continue reading Nearly fully occupied, The Mint is for sale
PILOTS in the 2023 budget
The 2023 municipal budget anticipates almost $3 million in revenue from Payments In Lieu Of Taxes (PILOT), an increase of almost a half-million dollars.
Council extends Rahway Plaza tax break
City Council extended a 50-year tax break another five years for a downtown high-rise with plans to possibly extend it longer in the future.
50-year tax break to be extended
A downtown high-rise building would have its 50-year tax abatement agreement extended another five years under a resolution to come before City Council tonight.
PILOT extended for Rosegate senior housing
A nearly 20-year-old senior housing development was granted a conditional extension of its Payment In Lieu of Taxes (PILOT) as part of plans to renovate the facility.
City Council to vote new on PILOT agreement
City Council is scheduled to approve a Payment In Lieu of Taxes (PILOT) agreement that would generate more than $26 million over 30 years for a proposed 292-unit mixed use complex across the river from downtown.
Continue reading City Council to vote new on PILOT agreement