The Jersey City Council approved two ordinances awarding 30-year payment in lieu of taxes (PILOT) deals for the Canal Crossing housing project that boasts 508 homes, 102 of which will be designated as affordable.
The redevelopment plan also calls for 20,000 square feet of commercial space and a 33,000 square-foot park at 880-900 Garfield Ave., which will be built with 100 percent union labor in the Bergen-Lafayette section of the city.
During public comment period on the ordinance, Yvonne Balcer said she was quoting a news article that said, “The biggest loser in PILOTs appears to be Jersey City, which admits it would have collected $68 million in add revenue had taxpayers paid the normal tax on their buildings.”
She insisted that PILOTs increase the property tax burden on homeowners like herself…