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Re: 30-year tax break approved for Journal Square residential building
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Home away from home
 
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1. If reval is the issue, then you should bring that fact to Fulop, he is the one who stopped it. 2. Parking is an issue, just because you say it is not doesn't fix the problem. People like you just pretend it will go away, but it doesn't. It is the reason Chico has his ordinance. 3. You are not saying how to pay for services for illegal immigrants, services cost money. 4. Of course funding for the board of ed is the issue. There is always a bill floating in the assembly/senate from overtaxed districts who receives little to no state aid and is tired supporting districts like JC which give tax abatements which does not fund the school districts.
Posted on: 2014/12/2 19:04
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Re: 30-year tax break approved for Journal Square residential building
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Home away from home
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Yvonne - - Abatements aren't the issue, the reval is. - Parking isn't the issue, better public transport and commute options are. - Enforcing regulations on city residency isn't the issue, providing incentives for people to live and work in JC is. - Beating up illegal immigrants isn't the issue. Harnessing their motivation and industry is. - Funding JC BOE and Hudson County spending isn't the issue. Reining in their obscene spending, with little result, is. I'm tired of your Don Quixote drivel. Go take some of your profit from your VVP property sale and take an economics for dummies course. Seriously.
Posted on: 2014/12/2 3:19
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Re: 30-year tax break approved for Journal Square residential building
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Home away from home
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1. First, you are wrong on abatements. No tax abatements were promised for development. LeFrak did not ask for an abatement neither did Colgate Redevelopment when they left their factory to develop the land. Mayor Cucci asked for affordable housing from LeFrak and Colgate was asked to prepay their taxes. Both of these requests resulted in abatements. 2. Dixon Mills developed without long term abatements and so did Society Hill which developed on contaminated soil. 3. When reval happens, tax abated properties will not go up but the surrounding homes without tax abatements will go up. Some will lose their homes to taxes. I, personally saw this in 1988. 4. JC will continue to lose state funding, we paid 13% in 2005 and it is around 17% now. Who will pay for those missing tax dollars? Definitely not tax abated buildings.
Posted on: 2014/12/2 1:03
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Re: 30-year tax break approved for Journal Square residential building
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Home away from home
Joined:
2013/3/29 21:43 Last Login : 2023/9/5 18:27 From Bergen Hill
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1980
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At the present moment, those tax dollars don't exist. When the building goes up and people buy in, tax dollars, even at a reduced rate, is better than zero tax dollars. Additionally, this development will raise the value of the surrounding homes. That will also increase tax dollars coming in. As an aside, if there is one thing I hate reading you write, is your constant bemoaning about abatements. If they weren't given for the downtown development, you wouldn't have nearly the pocket cash you do now. The home in Van Vorst Park would have sold for half of what you sold it for. But, since you "got yours" it's all about how you can prevent anyone else from getting theirs.
Posted on: 2014/12/1 14:15
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Dos A Cero
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Re: 30-year tax break approved for Journal Square residential building
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Home away from home
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i think it will soon be time to scaling back/start phasing out tax abatements in jsq
Posted on: 2014/11/27 20:45
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Re: 30-year tax break approved for Journal Square residential building
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Home away from home
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Then you should personally pay the missing county and board of ed taxes that will be missing from 3 Journal Square.
Posted on: 2014/11/27 20:30
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Re: 30-year tax break approved for Journal Square residential building
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Home away from home
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i am all for giving 30 year tax abatements to develop inner part of jersey city, they need it.
Posted on: 2014/11/27 20:12
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Re: 30-year tax break approved for Journal Square residential building
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Home away from home
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Panepinto's lawyer said, he deserved this tax break because the city granted KRE (Kushner) a 30 year tax break on their buildings. Panepinto also developed the ADP building in Journal Square. It received a 15 year abatement. Then the abatement expired, two years later they applied and received another abatement. This is the same developer who developed 1 Journal Square and Panepinto is not maintaining that property. A little background on the man, he was the former Hudson County Democratic Chair around 1989. He also was a lawyer but lost his license a while back. Here is the video on 1 Journal Square, which is posted earlier. https://www.youtube.com/watch?v=qcZIQZ ... =UUPZCDR4rCUMJtCl7__MaEag
Posted on: 2014/11/26 18:58
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30-year tax break approved for Journal Square residential building
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Home away from home
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30-year tax break approved for Journal Square residential building
By Terrence T. McDonald | The Jersey Journal on November 26, 2014 at 11:50 AM JERSEY CITY ? A $73 million residential building set for the Journal Square area of Jersey City will receive a 30-year tax break that was approved nearly unanimously by the City Council last night. The developers behind the 13-story, 240-unit project include Hartz Mountain and former Democratic Party bigwig Joseph Panepinto. The three-decade tax abatement was adopted by an 8 to 1 vote, with Ward D Councilman Michael Yun voting against. "It's time to draw a line," Yun said. "30 years is too long." Attorney Charles Harrington, representing the developers, argued that since the developers behind a nearby three-tower project received a 30-year tax break last year, Hartz and Panepinto should receive one, too. Read more: http://www.nj.com/hudson/index.ssf/20 ... residential_building.html
Posted on: 2014/11/26 18:16
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