Sayreville council approves pilot tax agreement for proposed cold‑storage warehouse on borough landfill

Sayreville council adopted Ordinance 56‑24 after a presentation from municipal adviser Anthony Inverso of Phoenix Advisors outlining the proposed long‑term tax exemption (pilot) agreement for a cold‑storage warehouse on borough‑owned landfill property.

Inverso said the project would be “approximately 250,000 square foot” and that the developer is purchasing the property “for about $20,000,000.” He told the council the site currently generates roughly $10,000 a year in total taxes, of which the borough receives about 27 percent, and that under the pilot the borough would receive an estimated $350,000 in the first year, with payments determined each year by the greatest of three calculations: a percentage of facility revenue, a per‑square‑foot amount, or the statutory minimums required by law.

The ordinance, as presented, applies the pilot only to improvements (the new facility); taxes on the land itself will continue to be paid and split with school and county entities as required. Inverso also said a smaller second phase could follow if the initial development meets expectations.

During public comment, resident Jim Robinson asked how the borough would use the roughly $20 million sale proceeds and whether those funds would be used to lower taxes, build a community center, pave roads, or restore the firehouse. Mayor said the incoming governing body after January would address disposition of sale proceeds.

The council moved, closed the public hearing and adopted the ordinance on roll call. No substantive amendments to the pilot formula were made at the meeting.

Next steps: the pilot agreement will be finalized with the developer and implemented according to the terms in the ordinance; the council indicated that decisions about allocating any one‑time sale proceeds will be decided by the new governing body after the start of the year.