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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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2005/7/13 15:03 Last Login : 2023/6/11 23:48 From Western Slope
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If the vote was 5-4 by voted in ward and at-large council members who are in by popular demand then it must be what the tax payers and tenants of this city wish for. If you look at the neighborhood of where this condo is then perhaps this is necessary to take place. Prior to the recent renaissance of the east side of the Heights it was a dump of a neighborhood so the 5-4 vote might be a blessing in disguise.
Posted on: 2012/2/23 19:33
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Get on your bikes and ride !
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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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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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2012/1/11 18:21 Last Login : 2019/12/26 15:30 From GV Bayside Park
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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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