The Bayonne City Council approved a 25-year payment in lieu of taxes (PILOT) agreement with a luxury apartment redeveloper at the Caschem site at the foot of the Bayonne Bridge at last week’s meeting.
The council adopted the ordinance by a (4-1), with 1st Ward Councilman Neil Carroll being the only opposition vote.
According to Director of Planning and Zoning Joseph Skillender, the PILOT deal is between the city and Gamal Group East Luxury Apartments Urban Renewal, LLC for property at 38 and 49 Avenue A.
Skillender said this development has been in the works for years, and consists of the east side of the old Caschem industrial site on Avenue A and West Third Street and Gertrude Street…