Search Results for:  – Page 33

May 17, 2019: For decades, New Jersey has experienced notable success with redeveloping many of its distressed areas by affording municipalities the ability to provide tax incentives to redevelopers (e.g. PILOTs). These incentives encourage redevelopers to accept the substantial risks and additional costs that come with most redevelopment projects – for example, the risk factor for unknown markets and the often-required construction of highly-amenitized, elevator buildings, and structured parking  (at a cost of roughly $25,000 per space vs. $3,000 per space in a surface lot).