Newark property owners could be spared a tax hike in 2017 thanks to increased lease payments from the Port Authority of New York and New Jersey, city officials told a gathering of local business leaders on Wednesday. Steve Strunsky, NJ.com Read more
‘Very good news’ for taxpayers: Port Authority to pay $12M more to Newark
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They could have received a tax break years ago from the PA’s renegotiated deal with Newark Liberty. However, corrupt Mayor Sharpe James diverted the $$$ into building the Prudential Center. Despite it’s lousy location, it not only drove up parking rates and ticket prices, but shut out many core fans. Collateral damage included the Izod Center and stuck the state with the bill for an unused venue.