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City council amends tax abatement for Section 8 housing


Hudson Reporter
City council amends tax abatement for Section 8 housing
Plattykill Manor Apartments now has more time to rehab its units
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The Plattykill Manor Apartments at 51 Avenue E
The Bayonne City Council has amended its financial agreement with Plattykill Urban Renewal LLC for the Plattykill Manor Apartments at 18-52 East 12th Street. At its Jan. 20 meeting, the council adopted an ordinance amending the tax abatement.
Last April, the council adopted an ordinance granting a 15-year extension on the preexisting tax abatement, or payment-in-lieu-of-taxes (PILOT). Plattykill will pay the city $230,000 annually in lieu of taxes from 2020 to 2023; $240,000 from 2023 to 2025; $275,000 from 2025 to 2030; and $315,000 from 2030 to 2035. ....

Sharon-ashe-nadrowski , City-council , Bayonne-city-council , Plattykill-urban-renewal , Plattykill-manor-apartments , Ward-city-councilman-gary-la-pelusa , Council-president-sharon-ashe-nadrowski , நகரம்-சபை , பயோன்-நகரம்-சபை ,