FINANCIAL_SERVICESAPPROVED

Egg Harbor Township Committee Meeting Agenda April 15 2026

Township approves PILOT with Atlantic County Improvement Authority

Annual payment equal to 10% of Net Revenue, not to exceed $66,667 per year, with CPI-based increases to the maximum payment in years 6, 11, and 16Township of Egg HarborATLANTIC COUNTY IMPROVEMENT AUTHORITYApril 15, 2026

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Description

Egg Harbor Township adopted Ordinance 9 of 2026 authorizing a 20-year PILOT agreement with the Atlantic County Improvement Authority for Building 2 at the National Aviation Research and Technology Park. ACIA will make annual payments equal to 10% of net rental revenue, capped at $66,667 per year with scheduled CPI-based cap increases.

Contract Details

Contract Amount

Annual payment equal to 10% of Net Revenue, not to exceed $66,667 per year, with CPI-based increases to the maximum payment in years 6, 11, and 16

Vendor

ATLANTIC COUNTY IMPROVEMENT AUTHORITY

Agency

Township of Egg Harbor, NJ

Contract Type

FINANCIAL_SERVICES

Document Date

April 15, 2026

Contract Term

20 years commencing upon first occupancy of Building 2 or January 1, 2027, whichever is sooner

Renewal Date

2047-01-01

Renewal Info

PILOT term is fixed at 20 years from commencement; maximum annual payment cap is increased in the 6th, 11th, and 16th years based on CPI-related rent increases. No automatic renewal is stated; extension would require a new agreement.

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