Newark Councilwoman LaMonica McIver, who sponsored the amendment
LaMonica McIver, Councilwoman, Newark, NJ, sponsored an amendment to Title X, Finance and Taxation, a new procedures for Application, Approval and Administration Of Long Term Tax Exemptions, which will amend the Financial Agreement adding language to include building maintenance as a material condition to the Financial Agreement between the City and Developers and permit the City of Newark to rescind a tax exemption when an entity fails to comply with building maintenance requirements not in compliance via investigations through code enforcement.
The Municipal Council has become aware that some owners who are in receipt of Long Term Tax Exemptions are failing to properly maintain their properties for reasons that include, but are not limited to, repairing or replacing broken elevators; repairing or replacing broken heating and air conditioning units or systems; providing inadequate heat and air condition for commercial and residential tenants in violation of State and Local Laws and Regulations; and remediating consistent and repeated building code violations.
“This is a first step towards holding Developers and Owners accountable who have received Long Term Tax Exemptions and are delinquent in making their payment in lieu of taxes. This is resulting in the lowering of property values, tax revenue shortfalls, and is placing an undue tax burden on those taxpayers who timely pay their taxes as they are forced to shoulder the burden of those owners who have received a tax break. I am proud to be a sponsor of this amendment,” said Council Member McIver.
