Borough’s Findings Sample Clauses

Borough’s Findings. Pursuant to the Exemption Law, the Borough finds that, in addition to the findings and determinations set forth in the recitals to this Agreement and incorporated by reference herein, the Long Term Tax Exemption granted pursuant to the Ordinance and this Agreement will benefit the Borough and the community by assuring the success of the redevelopment of the Land, which exhibits the statutorily recognized redevelopment criteria. The benefits of granting the Long Term Tax Exemption will substantially outweigh the costs, if any, associated with the Long Term Tax Exemption. The Long Term Tax Exemption is important to the Borough and the Entity because without the incentive of the Long Term Tax Exemption, it is unlikely that the Project would be undertaken due to the competitive alternatives available in other jurisdictions. The Long Term Tax Exemption is expected to attract an owner/occupant to the Project. The real estate taxes that would otherwise be levied upon the Project would operate as a disincentive to the owner/operator thereof, and would therefore frustrate the objectives and goals of the Redevelopment Plan.

Borough’s Findings. The Borough makes the following findings with respect to the tax exemption granted in this Financial Agreement:

Borough’s Findings. Pursuant to the Exemption Law, the Borough finds that the Long Term Tax Exemption granted pursuant to this Financial Agreement will benefit the Borough and the community by assuring the success of the redevelopment of the Redevelopment Area, which exhibits the statutorily recognized redevelopment criteria. The development and construction of the Project, as set forth in the Redevelopment Agreement and Redevelopment Plan, will be beneficial to the overall community; will achieve the goals and objectives of the Redevelopment Plan; will help revitalize the Redevelopment Area, including environmental remediation of the Redevelopment Area; will improve the quality of life for the community; is expected to generate 400 construction jobs and 2 permanent jobs; will serve as a catalyst for further private investment in areas surrounding the Redevelopment Area and will enhance the economic development of the Borough. The benefits to the Borough accruing as a result of the Project, including the generation of jobs, the revitalization of the Redevelopment Area, the environmental remediation of the Redevelopment Area, and the generation of municipal revenues, will substantially outweigh any incremental costs to the Borough resulting from the Long Term Tax Exemption granted herein. The Long Term Tax Exemption is important to the Borough and the Entity because without the incentive of the Long Term Tax Exemption, it is unlikely that the Project would be undertaken. The Long Term Tax Exemption will allow the Entity to provide a high level of maintenance for the Redevelopment Area.

Borough’s Findings. Pursuant to N.J.S.A. 40A:20-11, the Borough makes the following findings with respect to the tax exemption granted in this Agreement: