Re: Mayor Fulop Signs Executive Order Dedicating 10% to Future Tax Abatement Payments to JC Public schoo
Posted by Yvonne on 2017/4/11 15:28:31
Fulop renewed the tax abatements for Salem Lafayette for another 30 years bringing their abatement to 66 years and he renewed tax abatements on several buildings on Bergen Avenue. The people who live there still pay one third of their income in rent. This renewal provides a steady stream of income for the investors. Fulop also reduced the payment from senior complex. They previously paid 18% of their income to the city. Fulop had it reduced to 6.8%. Like the affordable housing, the tenants pays one third of their income in rent. This is to protect the owners. In the meantime, he takes our water money of $31.5 million.
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