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Linden council adopts long-term tax-exemption agreement for West Edgar Road redevelopment after public questions
Summary
The Linden City Council closed a public hearing and adopted an ordinance authorizing a long-term tax exemption (PILOT) and financial agreement with West Edgar Road Urban Renewal LLC aimed at redeveloping Block 469; residents asked for clearer details on duration and where revenue will flow.
The Linden City Council on March 17 closed a public hearing and adopted an ordinance approving a long-term tax exemption and financial agreement with West Edgar Road Urban Renewal LLC for property identified as Block 469 (various lots).
Mayor Antonelli and council members described the agreement as a long-term tax exemption commonly known in Linden as a PILOT (payment in lieu of taxes). "Basically, it's a tool that's in the city's toolbox to encourage development throughout the city," the mayor said, adding that such agreements are typically 30 years under the relevant statutes and…
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