PARSIPPANY — BBX Parsippany Urban Renewal, LLC, the developer behind the new 140,031-square-foot commercial building at 20–30 Lanidex Plaza, visible from Parsippany Road, received approval for a tax-exemption agreement (PILOT) by a 3–2 vote. Councilmen Matt McGrath and Justin Musella voted in opposition.
Parsippany resident Bob Venezia read a statement during the public session. The statement, according to the financing agreement, says “Certification as to Commencement of Construction: The Applicant hereby certifies that it has not and will not commence construction of the Project prior to adoption by the Township’s Governing Body of a Resolution approving this Application and an appropriate Ordinance approving and making effective this Long Term Tax Exemption and Financial Agreement and authorizing the Mayor or other appropriate official to execute the Financial Agreement.”
Despite Mr. Venezia’s concerns, the Council voted 3-2 to approve the PILOT financial agreement.
As pictured above, the project is under construction and is very visible from Parsippany Road.
