tbal, re-read the article CAREFULLY. The one who wants the "Abatement" is the City because it enables them to keep all the tax money instead of sharing with the County. The developers don't care who they pay it to.
This is a perfect example of the fallacy of 'abatements' in Jersey City. Jersey City does not offer real abatements like NY's Section 421 Abatement Program. Jersey City offers "Long Term PILOTS" in which the developer is required to pay more than conventional taxes and the City doesn't have to share the winnings with the rest of the County.But unlike conventional taxes, which the city has to share with local schools and the county, the city would get to keep all of these payments, McCann and city officials said.