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Re: 30-year tax breaks planned for Jersey City college projects
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Construction for this project starts in 2020. This helps the developer in avoiding the reval. They are also guarantee a 12% profit. In the meantime, JC sold the water and tax liens on small homeowners who have no abatements.

Posted on: 1/12 13:30
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Re: 30-year tax breaks planned for Jersey City college projects
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Quote:

brewster wrote:
I'm confused. Shouldn't a state university property be off the tax rolls? Is this for students or the general market?


The apartments in the story below are for the general market. The whole west campus development is a public-private venture. There will be some classrooms and student housing, some market-rate housing and shops open to everyone.

You can read more about it here.

Posted on: 1/11 15:15
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Re: 30-year tax breaks planned for Jersey City college projects
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This is studio, one, and two bedrooms, construction starts in 2020. No one knows what will happen in the future, it was predicted that the Journal Square would be developed 20 years ago, that did not happened. I don't see the need to give the abatement now.

Posted on: 1/11 14:26
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Re: 30-year tax breaks planned for Jersey City college projects
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The college is asking for all of these tax abatements at the same time even though the construction is at different times. Even Newport and other developers had to come before the city for each building. Politicians have always said tax abatements are based on merit. Where is the merit when everything is given up front?

Posted on: 1/11 11:14
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Re: 30-year tax breaks planned for Jersey City college projects
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I'm confused. Shouldn't a state university property be off the tax rolls? Is this for students or the general market?

Quote:
According to the State Constitution and various State statutes, property exempt from taxation includes property used for religious, educational, charitable or cemetery purposes as well as property used by exempt organizations such as volunteer fire companies, veterans’ organizations and historic sites. I


http://nj.gov/comptroller/news/docs/report_tax_exempt.pdf

Posted on: 1/11 11:11
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Re: 30-year tax breaks planned for Jersey City college projects
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Stringer wrote:

30-year tax breaks planned for Jersey City college projects

By Terrence T. McDonald | The Jersey Journal
Email the author | Follow on Twitter
on January 10, 2017 at 7:54 PM

JERSEY CITY -- Thirty-year tax breaks are up for final approval by the City Council tomorrow for two projects on the New Jersey City University campus.

The projects come with a total cost of $84.6 million and comprise three four-story, market-rate apartment buildings planned for the public university's west campus.

Two of the buildings are slated for Carbon Place just west of West Side Avenue and will house a total of 152 residential units and nearly 12,000 square feet of commercial space. There will be parking for 146 cars in garages and a surface lot.

The third building will be located between Route 440 and West Side Avenue on what will be called University Place Boulevard. That building will house 139 units and a 151-space parking garage.

Read more:  http://www.nj.com/hudson/index.ssf/20 ... _jersey_city_college.html

is this housing for students, faculty? if not, is njcu going into the property development business

Posted on: 1/10 21:13
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30-year tax breaks planned for Jersey City college projects
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30-year tax breaks planned for Jersey City college projects

By Terrence T. McDonald | The Jersey Journal
Email the author | Follow on Twitter
on January 10, 2017 at 7:54 PM

JERSEY CITY -- Thirty-year tax breaks are up for final approval by the City Council tomorrow for two projects on the New Jersey City University campus.

The projects come with a total cost of $84.6 million and comprise three four-story, market-rate apartment buildings planned for the public university's west campus.

Two of the buildings are slated for Carbon Place just west of West Side Avenue and will house a total of 152 residential units and nearly 12,000 square feet of commercial space. There will be parking for 146 cars in garages and a surface lot.

The third building will be located between Route 440 and West Side Avenue on what will be called University Place Boulevard. That building will house 139 units and a 151-space parking garage.

Read more:  http://www.nj.com/hudson/index.ssf/20 ... _jersey_city_college.html


Posted on: 1/10 20:46
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