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Pemberton Council approves 5-year tax abatement for KHOB redevelopment over resident objections
Summary
On May 6, 2026, Pemberton Township Council approved Ordinance 14‑2026, authorizing a five‑year tax‑abatement financial agreement with KHOB at Rancocas Creek LLC. Several residents questioned whether abatements could be renewed or transferred; council and counsel said the program is limited to owner‑occupants and the five‑year term cannot be restarted.
Pemberton Township Council voted 3–2 on May 6 to adopt Ordinance 14‑2026, which authorizes a financial agreement and five‑year tax abatement for the KHOB at Rancocas Creek LLC redevelopment project.
The ordinance drew extended public comment and questions about how the abatement program will work in practice. A number of residents objected to the policy during the second reading, saying abatements can undermine municipal tax revenue and could be used by investors. "I don't agree with this tax abatement," one resident told the council, urging protections for long‑term community interests.
Town counsel and administration responded with details from the redevelopment agreement and the township's drafting. They said the abatement is expressly limited to a five‑year schedule and applies only to qualifying owner‑occupants in the development's 40 designated affordable units; if the original owner sells before the five‑year term ends the new owner receives only the remaining portion of that original term — the contract does not create a new five‑year abatement on resale. "It's a five‑year program," counsel noted in explaining the contract language.
Council members said they had negotiated concessions and protections in the agreement. Supporters argued the measure helps move a long‑planned redevelopment project forward and contributes to the township's fair‑share housing obligations. Opponents said they feared the abatement would be exploited or diminish short‑term tax receipts.
After debate, council members voted to pass the ordinance. Two members recorded votes against the measure; three voted to approve it. The council manager said the redevelopment plan and the controlling redevelopment agreement date to 2021 and that the current ordinance simply implements the financial agreement consistent with that plan.
The ordinance takes effect as specified by law; residents were told the property and program details are available in the redevelopment agreement the township has provided for public review. The council also said enforcement language in the agreement prevents stacking this abatement with other property tax relief programs for the same unit.
The council moved from the ordinance debate to other business and closed the meeting after routine reports.
