Another Tax Abatement given in Bayonne, but this time, not to a developer, but a private LLC corporation. When is enough, enough?
The apartment complex in question on East 12th Street had already received a (40) plus year abatement. Yet here we are giving a wealthy LLC another (15) year abatement?? Where’s the common sense in that? By setting that precedent, isn’t our wonderful city council opening the door for all the other complex’s in the city, to request the same? What happened to the mayor’s promise made during re-election to reign in the awarding of abatements? Was it just another statement made during a re-election campaign, to give the voters something they wanted to hear?
The taxpayers in this city need to start paying attention. We’re subsidizing on a city level a private company with an abatement for housing. But, we’re also subsidizing, with our federal tax dollars (Section 8) housing for the same complex. In essence, we’re paying double. The owners are getting fair market value, and making profit, at the expense of the city’s taxpayers. Does that seem fair to anyone?
I would implore the taxpayers and voters in Bayonne to remember all these abatements to wealthy developers and LLC’s, while you yourself pay ever increasing taxes, when it comes to the next election. If you don’t, then you become the victim of your own inaction, and will have no one to blame but yourself.