The RAV group got the nod through Ordinance 09-102 for a 30-year tax exemption to build 14 low-income housing units along with retail space at 450-452 Ocean Ave. In lieu of taxes, the developer will pay a service fee of $11,573 annually for the first decade. For the second and third decades, the city gets 10 and 15 percent fees from annual gross revenue, respectively.
Some residents argued that although Jersey City residents were given a first shot at the new housing, the majority of residents who eventually move in to tax abated properties are from out of town. Additionally, they claimed that property owners pay far less with abatements than they would if they paid property taxes.
“We’re putting in residents from Newark,” said York Avenue resident Yvonne Balcer. “And it doesn’t matter if you’re low-income or high-income, what you’re saying is you don’t have to worry about taxes, while the rest of the citizens have to pay for schools and parks. Unless you pay taxes, you really don’t care.”
Elected officials remain optimistic, noting that tax breaks through abatements spur redevelopment.
“You’re damned if you do and you’re damned if you don’t. When we build [affordable housing] we get criticized, and when we don’t build it we get criticized. [Affordable housing] is a need that is going to continue,” said Councilman Michael Sottolano.
Other projects approved for construction, but without abatements, are as follows: Rehabilitation of 299-301 Bergen Avenue and 108 Storms Avenue with $500,000 from the Jersey City Community Housing Corp; Resolution 09-783 authorizing $1,680,000 in Affordable Housing Trust Fund money to Whiton Street Associates, LLC to build a The Monticello, a five-story, 120-unit building with 24 affordable housing units at 120-122 Monticello. The property owners for these units may file applications for tax abatements at a later date.

