Editor’s note: Election Day is Nov. 4. On the ballot in Rahway will be elections for mayor and three at-large City Council seats in addition to the remaining two years of an unexpired term for 6th Ward City Council. The three mayoral candidates were invited to present their platforms on redevelopment and will appear this week. Samson Steinman appeared yesterday.
Tag Archives: PILOT
Council to consider PILOT, changes to Brownstones
Council to consider PILOT for Meridia Brownstones
The developer of a proposed four-building complex on the former Wheatena property on Elizabeth Avenue is seeking a Payment In Lieu Of Taxes (PILOT) to the city that would average about $1 million annually for 30 years.
Continue reading Council to consider PILOT for Meridia Brownstones
Redevelopment agreement approved for Donoch II project
The Redevelopment Agency would receive redevelopment fees of $1,000 per unit for a proposed 194-unit project on Main Street, under an agreement approved earlier this month.
Continue reading Redevelopment agreement approved for Donoch II project
30-Year PILOT could mean 50-percent tax break
The Payment In Lieu Of Taxes (PILOT) for a proposed 196-unit project downtown could mean a tax break of as much as 50 percent in the first year alone and some $17 million versus $34 million over the 30-year life of the program, if certain assumptions are made.
Continue reading 30-Year PILOT could mean 50-percent tax break
Public hearing on budget slated for Monday
The City Council will hold a public hearing on the 2014 municipal budget during its meeting on Monday before giving final approval on the $51.8-million spending plan. The governing body is also scheduled to approve the Rahway Arts District‘s annual $130,000 budget, derived from the Special Improvement District (SID) tax.
The 2014 budget, introduced by City Council at its March 10 meeting, projects an increase of $43 in municipal property taxes on the average property, assessed at $133,000.
Main Street project would get 30-year PILOT
The City Council next month will consider the fourth Payment In Lieu Of Taxes (PILOT) in the last two years, this time for the largest project and the longest program yet.
Continue reading Main Street project would get 30-year PILOT
Mack-Cali acquires Park Square for $46.5M
Seven years after breaking ground on its first phase, Park Square has been acquired for $46.5 million.