The municipal budget anticipates more than $2.5 million in revenue from Payments In Lieu Of Taxes (PILOT), thanks in part to two new developments coming online and a new state law requiring a contribution from local hospitals.
Continue reading A closer look at PILOT revenue in 2022 budget
The proposed municipal budget for 2021 includes almost $1.8 million in anticipated Payments In Lieu Of Taxes (PILOT), with at least two new developments expected to add $190,000 this year.
City Council approved changes to the redevelopment agreement for Meridia Brownstones, setting a new development schedule for the project’s next phases.
Happy New Year everyone. Here’s a review of the top 10 most popular posts on RahwayRising.com during 2020:
Payments In Lieu Of Taxes (PILOT) are anticipated to account for $1.385 million in the 2020 municipal budget.
City Council extended a Payment In Lieu Of Taxes (PILOT) from 15 to 30 years for Metro Rahway, a 116-unit building on Campbell Street.
Recent downtown development projects have a mixed bag when it comes to reaching Payments In Lieu Of Taxes (PILOT) levels anticipated in their original financial agreements.
A five-year-old downtown building granted a 15-year Payment In Lieu Of Taxes (PILOT) has applied to extend the agreement for another 15 years. Continue reading Council to extend Metro Rahway PILOT