Reader says Valley should contribute PILOT ,with CLEAR understanding there is no relationship between a PILOT and Valley’s renewal.
They have nonprofit status in the tax code and pay no property taxes on their Linwood campus. Despite that, they spend millions on advertising billboards, glossy ads in high-end magazines, etc. Their CEO makes almost $3 million a year. And yet they don’t make any volunteer payment in lieu of taxes (PILOT) to the Village of Ridgewood where they are based. They had over $102 million in surplus in 2012, but didn’t volunteer a PILOT to the Village to help cover the cost of snow removal, and repaving & maintenance of the roads around their buildings, or for police & fire services, etc, which apparently are quite extensive, i.e. every time a fire alarm gets pulled in the hospital, the RWFD has to reset it. They also have to understand that there is NO quid pro quo for a PILOT payment and their expansionary dreams. I’m not sure they understand that clearly, but they should understand it, and volunteer 10% of their annual surplus to Ridgewood, with no expectation of anything but a thanks for the service they receive from the municipality. The Village Manager and Council should propose this to the Valley with the CLEAR understanding there is no relationship between a PILOT and Valley’s renewal.
You are absolutely right but they think they are doing us a FAA or by being in Ridgewood, so mays be we Ned to be paying them?. Audrey May Ned 4 M a year to not even bother to show up to meetings with the planning boards and residents,,,,,,,,,