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Re: 5-year tax break for 90 Columbus
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asny10011 wrote:
Why give a tax break at all? I bet they would still build without one. Downtown JC is hot.


because politicians need to get paid

Posted on: 2016/1/5 16:13
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Re: 5-year tax break for 90 Columbus
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JPhurst wrote:
5 year abatements are governed under a different law than long term abatements. Just about all new construction appears to be eligible, and although the council votes to approve it I believe they have to as long as the application meets the requirements.

https://www.municode.com/library/nj/je ... Id=CH304TA_ARTIIIFIARTAEX


Then it's time to amend the code so it only applies to certain neighborhoods. Other municipalities have laws like these that apply to new construction only in certain neighborhoods/streets. Of course, we all know how the developers have bought every mayor and city council member in Jersey City.


5-year abatements are the norm for new construction and major home improvement. It primarily benefits existing homeowners. So no - it shouldn't restricted.

Posted on: 2016/1/5 4:24
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Re: 5-year tax break for 90 Columbus
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JPhurst wrote:
5 year abatements are governed under a different law than long term abatements. Just about all new construction appears to be eligible, and although the council votes to approve it I believe they have to as long as the application meets the requirements.

https://www.municode.com/library/nj/je ... Id=CH304TA_ARTIIIFIARTAEX


Then it's time to amend the code so it only applies to certain neighborhoods. Other municipalities have laws like these that apply to new construction only in certain neighborhoods/streets. Of course, we all know how the developers have bought every mayor and city council member in Jersey City.

Posted on: 2016/1/5 3:29
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Re: 5-year tax break for 90 Columbus
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5 year abatements are governed under a different law than long term abatements. Just about all new construction appears to be eligible, and although the council votes to approve it I believe they have to as long as the application meets the requirements.

https://www.municode.com/library/nj/je ... Id=CH304TA_ARTIIIFIARTAEX

Posted on: 2016/1/5 1:29
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Re: 5-year tax break for 90 Columbus
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asny10011 wrote:
Why give a tax break at all? I bet they would still build without one. Downtown JC is hot.

well, at least this one is headed in the right direction...down/shorter!

Posted on: 2016/1/5 0:24
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Re: 5-year tax break for 90 Columbus
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Why give a tax break at all? I bet they would still build without one. Downtown JC is hot.

Posted on: 2016/1/4 23:57
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5-year tax break for 90 Columbus
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5-year tax break for Downtown Jersey City tower

By Terrence T. McDonald | The Jersey Journal
  January 04, 2016 at 6:12 PM

JERSEY CITY — The City Council today awarded a five-year tax abatement to a residential tower planned for a lot near the Grove Street PATH station, bucking a recent trend of longer term tax breaks for Downtown towers.

The developers of the $170 million 90 Columbus Dr. — a 50-story, 539 unit building set to start construction next month — are also behind the 50-story tower at 70 Columbus Dr. and a 152-room Marriott under construction on top of the PATH station's Marin Boulevard entrance.

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


Posted on: 2016/1/4 23:45
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