David DePierro, the developer of a 21 unit complex located on Palisade Avenue near Ferry Street made a $2,000 contribution on March 2, 2009 to Team Jersey City the fundraising committee for the Healy council candidates. De Pierro never made a political contribution of more than $300 before and hasn’t since then. The same year Hudson Palisades Urban Renewal LLC, the development company received a tax break in the form of a tax abatement to pay the city 10 percent of its annual gross revenue for 10 years and 12 percent for the subsequent 10 years.
It is now three years later that the council approved the amendment of their tax abatement with a vote of (5-4). The revised abatement calls for the developer to now pay 10 percent of its annual gross revenue for 20 years. There is no justification for this. Is the City going to start changing abatements to protect developers or is their action a clear example of cronyism and back door deals that this administration continues to practice. There were three beneficiaries of DePierro’s campaign contribution who voted to sweeten his abatement? They know who they are and now the voters do too.
James Francis Waddleton