A 50-year-old downtown high-rise apartment complex that recently had its tax break extended has secured $11 million in financing.
Continue reading Rahway Plaza Apartments gets $11M in financing
Tag Archives: Rahway Plaza Apartments
50-year tax break to be extended
A downtown high-rise building would have its 50-year tax abatement agreement extended another five years under a resolution to come before City Council tonight.
Downtown strategic plan: Existing land uses
Existing land uses downtown are diverse, with a mix of commercial, mixed-use, industrial, parking and public uses.
Continue reading Downtown strategic plan: Existing land uses
PILOTs in the 2021 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.
PILOTs in the 2020 municipal budget
Payments In Lieu Of Taxes (PILOT) are anticipated to account for $1.385 million in the 2020 municipal budget.
PILOTs in the 2019 budget
Revenue from Payments In Lieu Of Taxes (PILOT) is projected to reach almost $1.4 million in this year’s municipal budget while foreclosure registry fees are expected to jump by more than 50 percent.
PILOTs exceed $1.5 million in 2018 budget
The latest downtown development is expected to begin contributing a Payment In Lieu of Taxes (PILOT) this year, bringing anticipated revenue from PILOTs to more than $1.5 million in the 2018 municipal budget.
A closer look at local Walk Scores
How walkable is Rahway? According to Walk Score, it’s more walkable than most cities in New Jersey.