Verona Approves 383 Bloomfield PILOT Deal | Township of Verona | 383 BLOOMFIELD AVENUE URBAN RENEWAL LLC

Verona Approves 383 Bloomfield PILOT Deal

The Township of Verona approved a financial agreement with 383 Bloomfield Avenue Urban Renewal LLC for a 30-year long-term tax exemption tied to a redevelopment project at 383 Bloomfield Avenue. The agreement establishes annual service charges in lieu of conventional taxes and includes administrative fee and county remittance provisions.

Document date · September 14, 2026

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Scope & details

The full contract record, as filed.

Contract type

OTHER

Contract term

Thirty-year long term tax exemption; agreement effective through the Termination Date, not to exceed 35 years from the Effective Date

Renewal

Agreement may remain in effect up to 35 years from the Effective Date; the long-term tax exemption itself runs for 30 years from the ASC Commencement Date, subject to termination for default, voluntary relinquishment, or other applicable legal termination. No auto-renewal language is stated; the agreement can be amended only by written consent of both parties.

Document type

Agenda

Source document

Township of Verona Agenda September 14, 2026

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Township of Verona Agenda September 14, 2026

APPROVED

Township of Verona, New JerseySep 14, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the government contract by Township of Verona?

383 Bloomfield Avenue Urban Renewal Llc was awarded this government contract by Township of Verona, as recorded on September 14, 2026.

What type of contract is this?

This is a government contract, documented as a agenda record.

Where was this contract approved?

This contract appears in Township of Verona Agenda September 14, 2026 (Agenda), dated September 14, 2026 from Township of Verona. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does 383 Bloomfield Avenue Urban Renewal Llc hold?

383 Bloomfield Avenue Urban Renewal Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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