Yun disputes claim that tax abatements create jobs for Jersey City residents, especially minorities

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On a night the Jersey City Council once again approved a 30-year tax abatement in Journal Square, Councilman Michael Yun disputed the claim that tax abatements create jobs for Jersey City residents – especially minorities.

[fve]https://www.youtube.com/watch?v=OjvMyIyUWyA&feature=youtu.be[/fve]

The Jersey City Council, with Ward D Councilman Michael Yun being the sole No vote, approved a 30-year tax abatement for a development in Journal Square that will create 240 units.

The ordinance, which was moved up on the agenda after a motion by Councilman Chico Ramchal following the arrival of developer Joseph Panepinto, drew multiple speakers – including Charles Harrington, a lawyer with Connell Foley representing the devleopers, and Patrick Kelleher, President of the Hudson County Building & Construction Trades Council – who claimed that tax abatements were creating jobs for Jersey City residents.

After the public speaking portion was complete, Yun disputed the notion that tax abatements created jobs for Jersey City residents, specifically minorities.

5 COMMENTS

  1. We just had a developer state , in a W.N.Y. Commisioners’ meeting, that his 70 or so unit deal with an abatement would create 4 (YES FOUR) jobs for citizens as Supt.of said project.My heart tells me to print arrogantly stated but my brain tells me to print PROUDLY stated, by the developer.
    This is common sense,tax revenue lessened by tax abatements will give the town less money to hire people or pay present employees.We will ALWAYS hear the SAKESMEN PITCH of “what revenue do you currently recieve for empty property”?
    THIS IS A FALSE ANALOGY.What would we recieve w/o the tax abatement as compared to with tax abatements is a true analogy.TEST THE WATERS AND SEE IF ANOTHER INVESTOR IS WILLING TO SWIM AND BUILD W /O AN ABATEMENT.OTHERWISE JUST KISS US FIRST BEFORE YOU….
    people WAKE UP WE ARE BEING PLAYED,and believe me somebody is getting rich from this , besides the “developer”……..Oh..yes..I agree no REAL jobs come to any community which is not deemed or in reality “blighted” through tax abatements
    ..

  2. i though our Mayor got vote in because he was not for abatements? and the bullshit rides on,next will the big Tax raise because we don’t have money to pay our city employeees

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