Re: Developer: Project 'stalled' by denial of abatement change
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Just can't stay away
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Ouch, it's tough to take this stand since everyone is so anti-development on this board - I give you alot of credit for always fighting the grain and writing about your well thought out positions. I agree, the high rises are beneficial to both the downtown neighborhood and to the city's budget, especially considering the alternative - vacant or underused lots. Jersey City's abatements are not even very advantageous - the abatements right across the pond in Brooklyn are much more generous, to the point where developers/residents pay 1/10th of the taxes they pay in JC fixed over 15 year periods. So to the contrary, the JC city goverment is actually the giver, screwing over the Hudson County and the state of New Jersey by not sharing any of this new revenue with them, while accepting significant state funds for local schools. I still respect the city standing up and saying no to ammending an existing agreement - this can set a dangerous precedent. The city did the right thing in this situation but not because abatements are evil. Bottom line, this is a negotiation process and it will eventually reach a give and take compromise and move forward.
Posted on: 2008/1/28 1:26
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Re: Downtown JC on north side of the Holland Tunnel gets a new nick name by Hobokenites: Welcome to
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Or they could go Vietnamese and just name it "Pho"
Posted on: 2007/12/14 21:31
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Re: WE NEED MORE COPS
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For the new residential developments, the tax abatements help the city earn more direct revenue than they would under regular property tax - they basically put all tax revenue into JC's coffers without sharing any of it with the county. The effective tax rate is basically equivalent. What they choose to do with it, including sharing it with schools or hiring police officers is another matter.... don't let the politicians off the hook thinking there won't be a significant increase in tax revenue.
Posted on: 2007/12/10 5:24
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Re: Goldman Sachs wants special tax agreement for new $560M tower
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The plot of land is zoned for commercial. Does zoning not matter in JC? They would be unable to build residential in a plot of land unless approved by the city - right?
Posted on: 2007/7/14 20:04
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Re: Downtown Jersey City Watch-Updates Thread
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You found me! But seriously, I don't think anyone here thinks it was an approved flyer. You are doing a very positive thing and, yeah, the person who made the flyer had good intentions. Regardless, that still doesn't change the fact that video's side commentary was very funny :) [/end thread hijack]
Posted on: 2007/7/14 19:52
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Re: Downtown Jersey City Watch-Updates Thread
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Posted on: 2007/7/13 2:25
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