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Re: Jersey City City Council approves yet again a revision in tax abatement for Palisade Avenue condos
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Home away from home
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Four of the five yes votes (Gaughan, Brennan, Sottolano and Lopez) received money from DePierro in 2009, right before the original abatement was granted. DePierro had never made a reportable political contribution before and hasn't since. Coincidence?
Posted on: 2012/2/23 18:51
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Re: Jersey City City Council approves yet again a revision in tax abatement for Palisade Avenue condos
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Home away from home
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Kudos to Steve Fulop, Viola, and the others who voted against this even though it still passed we are all seeing the trend here. We have 2013 to make a difference and put Fulop as mayor. WE need to clean house.
What do these developers do for JC. They don't even hire local contractors. You see construction companies from all over except Jersey city. What about keeping the money in the city. I don't know how much abuse Jersey City can take......they build and want to make as much profit as possible on the backs of the tax payers... ridiculous.
Posted on: 2012/2/23 18:17
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Jersey City City Council approves yet again a revision in tax abatement for Palisade Avenue condos
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Home away from home
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After a heated, prolonged debate last night, the Jersey City City Council approved a measure revising the tax abatement for a residential complex on Palisade Avenue near Ferry Street, a revision that Ward E Councilman Steve Fulop called a "bailout" for the developer, The Jersey Journal reports.
The revised tax break permits Hudson Palisades Urban Renewal LLC, developer of the 21-unit complex, to pay the city 10 percent of its annual gross revenue for 20 years. The initial abatement approved in 2009 called for 10 percent of the gross revenue for 10 years and 12 percent for the subsequent 10 years. http://www.nj.com/hudson/index.ssf/20 ... city_council_appro_5.html
Posted on: 2012/2/23 16:52
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