ZIMMMER BLASTS BLANK CHECK FOR CHURCH TOWERS
Councilwoman Dawn Zimmer today blasted the ‘blank check’ that the Hoboken City Council gave to the owners of Church Towers last night when the Council added another ten year PILOT for the property without putting a real plan in place.
Zimmer said, “ This hasty act provides no real safeguards for low and moderate income tenants, makes no provision to charge true market rate to people with six figure incomes, and offers no relief for Hoboken taxpayers.” Zimmer and Peter Cunningham were the only members of Council to vote against the extension, arguing that a plan must be developed first, before an extension is granted.
According to Zimmer, key elements of a plan that could have been developed include:
1) Preventing unaffordable rent increases for low and moderate income tenants.
2) Putting in place a transparent process to ensure that to the extent subsidies continue, they only go to those in need.
3) Developing a timeline and procedures to put Church Towers back on the tax rolls in a way that minimizes disruption, ensures that people who truly need affordable housing are not hurt and is fair to Hoboken taxpayers.
Zimmer added, "It is only due dilgence to modernize and improve an agreement that was made over 40 years ago. Unfortunately the Council just rubber stamped it." In the mid-60’s when Church Towers was built, the City of Hoboken granted a 40 year tax abatement in exchange for a promise to provide affordable housing to those who needed it. That agreement expired over a year ago but the City has still honored its provisions. ◦
