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Resident challenges 30‑year tax pilots; mayor and council defend program
Summary
At a Woodbridge Township Council meeting, resident Scott Gorich presented financial analyses arguing 15‑year pilots (or no pilot) would still yield developer profits and reduce long‑term taxpayer risk; Mayor McCormick and administration defended 30‑year pilots as necessary to secure development and to fund schools and infrastructure.
Scott Gorich, introduced from the public microphone, urged the council to reconsider long-term tax pilot agreements on four development projects and asked the council to pull two items (g and h) from tonight’s consent vote to allow further study.
Gorich said his net‑present‑value and internal‑rate‑of‑return calculations show the developments remain profitable under a 15‑year pilot and even with no pilot. “The bottom line point is that using a number of discount rates… the result was a positive number, which means a pilot is not necessary for this development to be economically viable,” he said. Gorich asked the council to share the administration’s proprietary assumptions so he could model a…
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