BOGOTA, NJ-The Borough Council granted last week a 30-year tax abatement to developer 297 Palisades Avenue Urban Renewal LLC for a 44-unit apartment project on Palisade Avenue here.
The council approved the measure by a 4-2 margin on Thursday evening after a lengthy and contentious debate, according to The Record. The apartment project will be built at 297 Palisade Ave., which has sat vacant since the Florence E. Dewey Elementary School was demolished more than a decade ago.
Part of the deal for the tax abatement bars the developer from appealing the project's property taxes during the term of the accord. See story in The Record.
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