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Clock Tower tax agreement: council declines emergency designation after residents and owners urge quick action
Summary
Owners and tenants of the Clock Tower apartment complex urged the council to extend a tax-agreement/abatement to preserve affordability; the council considered an emergency resolution but the motion to treat it as urgent failed, leaving the substantive item for normal process and prompting continued debate.
Owners and tenants of the Clock Tower apartment complex pressed the Hoboken City Council on Thursday for an immediate extension of a tax agreement covering affordability protections at the property. Property representatives said delay was creating uncertainty for residents; tenants described the agreement as key to maintaining affordable units.
Clock Tower representatives and tenant speakers told the council the building has low turnover and that the partnership among the city, owner and…
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