BAYONNE, NJ - Based on the amount of building going on across the city Bayonne’s time has come, city officials have said. On Wednesday, Bayonne City Council members cited the success in drawing development and said that the need for long term tax abatements to attract investment is no longer necessary.
Acknowledging the issue is one that Councilman Gary LaPelusa has long spoken out on the legislative body voted to limit any new abatements to 20 years, and offered a further promise to reduce that to 15 years in 2021.
“There might be exceptions to this if the project is going to give back community incentives such as a sports field or cleaning up contamination,” Council President Sharon Ashe-Nadrowski clarified.
The time is right for the move, Councilman Neil Carroll III said, adding that “Bayonne continues to be a gem for businesses and residences, and PILOTs (payment in lieu of taxes) helped solidify our city. But that time has passed.”
“We said two years ago that we would stop abatements of 25 to 30 years, now we’re doing it,” LaPelusa, who has regularly offered dissenting votes in proposals to offer the long term financial packages. “This is the right time. We as a whole gave abatements to spur on development. Building has been abundant over the last six years. We do not have to do this anymore.”
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