[Hypothalamus]

nj:

Tax abatement allows 2 Jersey City construction projects to move forward
By Michaelangelo Conte/The Jersey Journal
on April 09, 2014 at 9:24 PM

A tax abatement approved tonight by the Jersey City City Council will allow two major construction projects to move forward at Journal Square and Downtown.

Scores of union carpenters, electricians, plumbers and other workers were on hand when the council approved the five-year abatement for the proposed 50-story tower to be located at 65 Bay St.

The tower is designed to have 447 units, including retail, and would share the Trump Tower parking deck but add 144 spaces to it.

Council members were adamant that union workers and local workers be employed at the project and a spokesperson for the project said all work at the project will be done by union workers.

“By God we are going to make sure that is enforced and we are going to make sure you get Jersey City people to work here,” said Council President Rolando Lavarro and as the crowd cheered he added the measure passed unanimously.

The council also approved a 20-year abatement for construction of controversial $22 million project at 25 Senate Place which will be a 266-unit residential and retail project.

[...]

The $501 million proposed budget slashes about $14 million from last year’s budget and includes a 2.1 percent tax cut. Last year’s $516 million budget, which was approved in July, included a nearly 8 percent tax hike, that city officials blamed on the previous administration.

City officials said it will be a month or more before a vote on adopting the budget.