Jersey City Council approves 30-year tax abatement for affordable housing complex

0

The Jersey City Council unanimously approved (9-0) a 30-year tax abatement for an affordable housing project that would span through portions of Ocean Avenue and Dwight Street, though not every resident was thrilled with the idea. 

Yvonne Balcer, a city activist who routinely speaks out against long-term tax abatements, did not make an exception this time around.

Thomas Leane, an attorney from Genova Burns for Genesis Ocean Urban Renewal Associates, LLC Рthe  affordable housing project developer Рsaid the change was necessary since the unit was recently upgraded from 54 to 64 units.

Nevertheless, Balcer said the abatement still makes no sense.

Meanwhile, Kabil Tayari, a former controversial deputy mayor under Jerramiah Healy, had no problem with the city helping a “small-time developer” build affordable housing.

After two more residents spoke, the council unanimously approved the measure, though Ward C Councilman Rich Boggiano said this is where the governing body should draw the line on 30-year tax abatements – stating that there is no need to give out abatements that span more than 10, 15 years tops.