Earlier in May, the Senate Budget and Appropriations Committee amended S-2015 to expand prevailing wage requirements to Payment In Lieu of Taxes (PILOT) agreements. PILOT agreements are typically utilized for redevelopment in municipalities and the amount is based on a percentage of the project costs or revenue generated by the project.
The League opposes this legislation as it will diminish the value of PILOT agreements as a redevelopment tool and increase costs on projects that are generally expensive to complete. Please reach out to your Senator to oppose this legislation.
Contact: Lori Buckelew, Deputy Executive Director & Director of Government Affairs, lbuckelew@njlm.org, 609-695-3481, x112.