Township Approves PILOT Agreement With County Authority
Trusted by teams at
Description
Egg Harbor Township adopted Ordinance No. 9 of 2026 authorizing a 20‑year Payment In Lieu of Taxes agreement with the Atlantic County Improvement Authority for Building 2 at the National Aviation Research and Technology Park. The agreement provides voluntary annual payments based on 10% of net rental revenue, capped at $66,667, to compensate the Township for otherwise tax‑exempt federal property.
Contract Details
Vendor
ATLANTIC COUNTY IMPROVEMENT AUTHORITY
Agency
Township of Egg Harbor, NJ
Contract Type
FINANCIAL_SERVICES
Document Date
April 15, 2026
Contract Term
Twenty (20) years commencing upon the first occupancy of the building or January 1, 2027, whichever is sooner
Renewal Date
2046-12-31
Renewal Info
PILOT term is 20 years from first occupancy or January 1, 2027, with maximum annual payment increased in the 6th, 11th, and 16th years based on average CPI increases in tenant rents for the prior five years. No automatic renewal is specified; a new agreement would be required after term expiration.
More from ATLANTIC COUNTY IMPROVEMENT AUTHORITY
More from Township of Egg Harbor
Egg Harbor Township AgendaPacket Meeting Agenda and Supporting Documents 2026-05-20
Egg Harbor Township AgendaPacket Meeting Agenda and Supporting Documents 2026-05-20
Egg Harbor Township AgendaPacket Meeting Agenda and Supporting Documents 2026-05-20
Egg Harbor Township AgendaPacket Meeting Agenda and Supporting Documents 2026-05-20
Egg Harbor Township AgendaPacket Meeting Agenda and Supporting Documents 2026-05-20
Get alerts on contract renewals, new awards, and vendor activity.
See live SLED buying signals, source docs, decision-makers, contract context, and the next step into your CRM or pipeline.