Eugene Paolino Comments on Jersey City Mayor’s New Tax Abatement Policy in Jersey Journal
August 22, 2013 | By: Eugene T. Paolino, Esq.
Eugene T. Paolino, Partner in Genova Burns Giantomasi’s Jersey City office, was quoted in today’s Jersey Journal commenting on Mayor Steve Fulop’s new tax abatement policies which are intended to encourage development in areas beyond Jersey City’s Downtown. According to the article, "the new policy...would allow for 30-year tax breaks for developers building in Journal Square; 20-year breaks for projects in the inner city, Greenville and parts of the West Side; and 10-year abatements for developers building in parts of the West Side, the Heights and the southeastern waterfront. " Mr. Paolino was quoted saying he thought the plan was “aimed at clarity and achieves defined and specific results.” A member of the firm’s Commercial Real Estate & Redevelopment Practice Group, Mr. Paolino has played a critical role in some of Jersey City’s most iconic and significant real estate projects.