PARSIPPANY — Most of Thursday, November 9th’s Parsippany Council meeting focused on discussions about three proposed PILOT projects. PILOT, an acronym for Payments in Lieu of Taxes, relates to development incentives offered to developers.
The areas targeted for redevelopment are 2 and 3 Campus Drive and also 249 Pomeroy Road. The Campus Drive locations would potentially include residential housing. Pomeroy Road would be a potential warehouse.
“The office market is not going to pick up until 2035”, stated Mayor Barberio when he addressed the potential PILOT projects. PILOTs are a tool the state legislatures gave municipalities to help with economic development and help with redevelopment projects, he explained.
Councilman Musella rebutted, saying that he objects to the process and the lack of information presented to the Council. “The Financial Plan Agreement in Exhibit A is completely blank,” he noted.
Former Parsippany Township Attorney John Inglesino took the microphone in the public commentary section of the meeting to explain to the public what PILOT projects are and why they can be a benefit to the town. He stated to meeting attendees and council members that these PILOT projects will not affect the school budget. He stated that schools are protected and that these PILOTS will not impact the school budget.
After Inglesino concluded, Councilman Frank Neglia thanked him and told him that he was very happy with his explanation and that he learned a lot from his presentation.
The motion to introduce the PILOT projects on the agenda was passed 4-1 with Musella being the lone vote against it.
