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Council approves PILOT tax adjustments for Paulsboro Gardens, citing $12 million investment
Summary
Council adopted R.25.283 to authorize tax cancellations and adjustments under a pilot program for Paulsboro Gardens, LLC (Block 123 Lot 1, 101 Baird Ave). Administrator Marino said the development will invest about $12 million; Solicitor Maley noted the governing body had previously approved the pilot but the development agreement and deadlines are not yet complete.
Council adopted R.25.283 authorizing cancellation/adjustment of tax bills under a pilot (PILOT) for Paulsboro Gardens, LLC (Block 123 Lot 1, 101 Baird Ave). The minutes list billed amounts for the 4th quarter 2025 and early 2026 quarters and the adjusted amounts under the agreement (for example, billed $59,715.00 for 4th quarter 2025; adjusted to $10,215.00 under the PILOT schedule).
Administrator Marino described the developer's planned investment and local housing goals: "They are putting approx. 12 million in this project," he said, and added the pilot aligns the project with low‑ to moderate‑income housing expectations. Solicitor Maley noted the governing body previously approved the pilot program months earlier but that "we don't have the development agreement yet, and we do not have a deadline as of now either." Council approved the resolution without recorded dissent.
