A Holmdel Township School District board member asked the board to obtain an updated analysis of PILOT (payment in lieu of taxes) revenue tied to Bell Works and other local PILOT agreements, saying the district needs current figures to inform budget planning.

The board member recalled a previous Acacia Financial report that showed about $27,000,000 in assessed value “back in, I think, up to 2,023,” and said the district had received about $800,000 to date. The member added, “I would be betting that we're close to probably $40,000,000 and of that, we've received $800,000.”

Board leadership and the superintendent said they would seek updated numbers. Superintendent Dr. Cascon said the district’s budget team has been working earlier than usual to identify challenges and solutions and that discussions with the township committee are ongoing. President Tamara (identified in the meeting only by first name) said updates will be provided as information becomes available and that the township is listening to the district’s concerns.

Why it matters: PILOT agreements affect property-tax revenue flows to local governments and school districts. Board members said an updated, documented analysis would provide a factual basis for further budget negotiations with the township and for public discussion.

What was said and what will happen next: The board member asked that Acacia Financial or an equivalent analysis be refreshed with current figures; the superintendent agreed to continue conversations with the township and to report back, aiming for more information by the fourth quarter of the year. No formal motion or binding direction was recorded; the item was raised as old business and the board did not adopt a policy or appropriation at the meeting.

Context and limits: The dollar figures cited during the discussion were presented by the board member as estimates or recollections of prior work; the board did not adopt new revenue assumptions at the meeting. The transcript records the board member’s estimate that prior analysis showed $27 million and that the district had collected about $800,000 so far; those numbers were not verified or replaced by an updated analysis during the meeting.

The board expects to return to the subject as part of ongoing budget work and township discussions.