Town of Harrison Agenda Packet 2026-05-19
PILOT Term Extended for Block A Urban Renewal
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Description
Harrison adopted Ordinance 1560 to amend its long term tax exemption financial agreement with Block A Partners Urban Renewal I, LLC, extending the PILOT term for the redevelopment project through July 29, 2059. The amendment aligns the agreement with state law and the project’s phased completion schedule.
Contract Details
Vendor
BLOCK a PARTNERS URBAN RENEWAL I LLC
Agency
Town of Harrison, NJ
Contract Type
FINANCIAL_SERVICES
Document Date
May 19, 2026
Contract Term
Extended maximum term to July 29, 2059; 30 years from last Certificate of Occupancy per unit, not to exceed 50 years from 07-29-2009
Renewal Date
2059-07-29
Renewal Info
First Amendment to an amended and restated financial agreement; extends maximum duration to 50 years from 07-29-2009 with 30-year terms per unit from last Certificate of Occupancy.
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