Mayor Fulop selling out the city again, more tax breaks for downtown

For a guy who started at Goldman Sachs we'd expect more economic understanding. When you look at what Goldman Sachs has done to the American economy maybe this shouldn't be the surprise it seems to be for Johnny.

Mayor Fulop, who railed against former Mayor Healy's "Johnny Appleseed" idea of downtown tax abatements is doing exactly the same. Yet, Fulop announced, well his schoolmarm spokesmodel announced, Fulop wants to give the many towers going up in the BJ's, Pep Boys lot downtown off Second St. and Marin  TWENTY year tax abatements. See Fulop somehow thinks instead of a long-term tax base with large developers paying the going tax rate for OUR land, Fulop would rather let developers (and this goes on again and again and again with him) take a cheap payout by paying a pittance into JC coffers. Terrence T. McDonald has more on this sweet deal for developer

The abatement would allow Forest City to eschew normal taxation in exchange for paying the city 7 percent of its annual gross revenue on the $449 million project. The amount the developer expects to pay the city in its first year of operation is about $920,000 for each tower.

What economic madness Mr. Mayor. Where the hell did you get your econ degree? Moreover, where did you lose your backbone? Certainly Mr. Mayor you'll remember this comment YOU made:

“Until now, all the market-rate development has been limited to Downtown because of a lack of a policy,” Fulop said in a statement from the city. “These one-off deals have created a culture of artificial competition with parts of the city, abatements based on who you know, and no foresight for future development in those parts of the city where it is needed most.”

A lack of policy. Yes Steve Fulop, YOUR lack of policy.

So the mayor with one foot out the door is not protecting Jersey City's economic long-term development and health. When Healy did it you could make a case jumpstarting downtown was necessary. In no way, shape or form does downtown need ANY MORE tax breaks but Fulop simply can't stop himself giving YOUR money away. Where are the groundbreakings at Journal Square Mr. Mayor? Where are your new big digs in Greenville? You said, you out and out said downtown was done getting breaks while the rest of the city was rehabbed on your watch. Liar. Your new and more tax breaks downtown despite your hollow words now have gone beyond stupid Mr. Mayor and they are starting to smell of patronage, you know for when someone needs campaign contributions for governor.

Don't worry though, no doubt this deal will get passed on Tuesday night as city council has their marching orders. Candice Osborne claims she hasn't read the plan and this is her ward. You know, millions upon millions of business deals going on in her ward and she hasn't had time to worry yet. It'll probably make her vote Tuesday (not Wednesday this week kids) that much easier. Rolando Lavarro hasn't met a proposal to build in someone else's ward and fuck them over he doesn't like. Joyce Watterman is in Fulop's hip pocket. Oh this deal is going to pass alright, with your city council proving they are as economically challenged as the mayor.

Of course we'd also like to give a shout out to the mooch who wants all your tax monies, The developer, Abe Naparstek. Naparstek has a funny idea about how business should work but luckily he found the Jersey City mayor and council who seemingly have no idea how it works:

"...the city tax break and the redevelopment bonds as a package deal that, together, make the project viable. Without one of the three components, he wouldn't be able to build the towers, certainly not with 172 affordable units, he said. "All work in concert together," Naparstek told The Jersey Journal in a phone interview this morning. "You can't have one of these things without the other."

HA! Does anyone think that number, if any, will be "affordable units"? City Planning will, as they always do, give a variance to affordable units and the developer will then say they are to be built in Secaucus or Hopatcong (with some of your tax money) and developers still get tax breaks. There will be NOWHERE NEAR the number of "affordable units", trust Johnny, look around you if you don't believe him. Lloyd Goldman, BLDG, Toll Brothers, all have agreed to affordable units to get tax breaks only to decide it made them no money and they kick the can down the street and the city allows it.

So fuck you Abe. Know what we as a city would rather have? NO buildings and our tax money in our pockets. These buildings don't HAVE to be built yet you act like it's a city necessity. Maybe for your bankbook Abe but that's why you want to work with Jersey City government, they don't ask the tough questions like Johnny does you fucking mooch.