의식 2493: PILOT Agreement For Meridia At Roselle Park

의식 2493: PILOT Agreement For Meridia At Roselle Parkthumbnail
게시: 6월 1, 2017 @ 5:00 PM EST

The legal requirement to allow PILOT, or Payment In Lieu Of Taxes, ~에서 “로젤 공원에서 메리 디아” development on West Westfield Avenue for their 213-unit residential development is in the form of Ordinance 2493. This directive will authorize Roselle Park’s governing body to enter into a PILOT agreementon behalf of the borough’s residentswith Meridia on Westfield Urban Renewal, 로젤 공원, LLC. This will be for the five (5) properties along West Westfield Avenue that include the former restaurant Domani’s, DJ의 리무진, and SESSCO.

12 월 2015, the first step to having the properties developed on Route 28 (웨스트 필드 애비뉴) was taken when the Municipal Land Use Board (MLUB) designated the lots as an Area In Need Of Redevelopment. 지금, 18 몇 개월 뒤, after being approved by both the MLUB and council to develop, Capodagli 부동산 회사 (CPC) – the parent company of Meridiahas demolished the structures and is applying for PILOT.

PILOT은 포기 된 개발자는 지방 자치 단체의 특성에 구축하기위한 인센티브로 활용되는 프로그램입니다, 빈, 또는 사용되지 않는. 개발자는 세금이 특성에 지불하고, 그렇지 않으면 지급되는 것보다 적은 지방 자치 단체를 지불 PILOT을 사용하여. 지방 자치 단체는 세금을 적게 나타날 수 있지만,시 정부는 이후 비율의 방법으로 더 받는다 95% PILOT이 마을로 이동의 필요에 반대 30% to 33% 지방 자치 단체에가는 세금. In a PILOT scenario, a school district does not get any of the PILOT payments. Criticism of the program is that for an apartment or residential development, school children might attend local public schools but the developer would not pay for any increase in student population through school taxes. At a presentation for PILOT held in April, Michael Hanley of NW Financial Group stated that school districts do get taxes from the land portion of property taxes. It is only the improvement partwhich is covered by PILOTthat does not go to schools.

Joseph Baumann from the law firm of McManimon, 스코틀랜드 & 바우만, LLC – the special council appointed by the governing body to assist with the logistics of the project and PILOTconfirmed that the land portion of property taxes are still paid and only the improvement portion has PILOT applied to it. It is this portion that will not have any taxes going to schools but, according to the presentation, between 50% and 55% of the land portion taxes will still go to schools. PILOT will apply any taxes paid by the municipality from the land portion as a credit to the PILOT payments.

PILOT에 관해서, it will be based on the annual revenue of the development and will be for 30 년. The complex is scheduled to be completed by July of 2019. The project is designated as mix-use with the first floor of the development being for as yet unnamed commercial use.

Below is a breakdown of the percentage to be paid as PILOT for the span of the agreement:

YEARS
RATE
PHASE-OUT
1 - 5
10.5%
6 - 10
10.5%
또는 20% of ordinary taxation
11-15
13%
또는 40% of ordinary taxation
16 - 20
13%
또는 60% of ordinary taxation
21 - 30
13%
또는 80% of ordinary taxation

The phase-out alternative method means that the developer will pay either a percentage of the revenue of a percentage of taxes – whichever is greater.

의식 2493 is set to have its second reading, 공청회, and vote by the governing body at tonight’s Mayor & 시작됩니다위원회 회의 7 P.M. 보로 홀에서.

A copy of the ordinance along with the 99-page application for PILOT are included below. 또한, a video of the April 19, 2017 PILOT presentation is available below the documents.


다운로드 RP 조례 2493


Download Meridia on Westfield Urban Renewal PILOT Application