Your Action Needed: PILOT Prevailing Wage Bill Moving Again
Earlier this year legislation was moving quickly that would make any public work done on a property or premises for which a public body provides, approves, or authorizes a tax abatement or tax exemption for the property or premises subject to the Prevailing Wage Act. Thanks to your efforts. and our partners. the bill stalled until now. We understand that ACS 1571 & 1576 /S-1956 may be considered during lame duck.
We urge you to not only reach out to your Senator and Assembly representatives expressing strong opposition to the legislation, but also we request that you consider signing on to the coalition letter opposing ACS 1571.
In expressing opposition to the bill, remember:
PILOTs are the single-most powerful tool to encourage improvements to property or locate a project in a distressed or blighted area.
This is not a prevailing wage issue for local governments, but rather the impact on redevelopment, job creation, and affordable housing.
As we pivot to a post-COVID recovery, removing a critical tool to incentivize development and redevelopment is problematic.
If adopted this legislation will have a significant and costly impact on affordable housing developments, environmental remediation projects, historic preservation; and the installation of infrastructures as PILOTs are a critical tool for both urban and suburban development.
Projects using permanent NJ HMFA financing are compelled to enter into a PILOT. Many of these projects are simply not feasible financially but for the PILOT, which could expose municipalities statewide to builder’s remedy litigation.
Contacts:
Mike Cerra, Executive Director, mcerra@njlm.org, 609-695-3481, x120.
Lori Buckelew, Assistant Executive Director, lbuckelew@njlm.org, 609-695-3481, x112.
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