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Council introduces ordinances to rescind long-term tax-exemption agreements for three redevelopment projects
Summary
Hackensack City Council introduced ordinances to rescind three long-term tax-exemption (pilot) agreements affecting the former Sears site, the Essex 1 project and the Sapphire project and scheduled public hearings for Aug. 11, 2025; developers signaled legal objections during public comment.
Hackensack City Council on first reading introduced ordinances to rescind three previously adopted long-term tax-exemption (pilot) agreements tied to redevelopment projects and set public hearings for Aug. 11, 2025.
Mayor (unnamed) told residents the council is taking the "first step towards rescinding" two 30-year and one 15-year tax-exemption agreements for the former Sears site at 1 Essex Street, the Essex 1 development, and the Sapphire project at 148 Main Street. He said those agreements…
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