Hurricane Sandy
Belmar Approves Designation That Would Encourage 5-Year Tax Abatements
All real property in Belmar declared an "area in need of rehabilitaiton"
A designation declaring all real property in Belmar an "area in need of rehabilitation" could allow the borough to grant five-year tax abatements for improved property, officials said. In a resolution passed at this week's council meeting, the borough agreed it deserved the label "an area in need of rehabilitation" for the entire borough. The resolution passed with a dissenting vote from Councilman Jim Beam, who was concerned the designation would allow for zoning changes and labeling property as blight. The resolution's intention, Mayor Matt Doherty said, in establishing the designation, is the benefit of allowing Belmar to grant five year tax abatements to Hurricane Sandy damaged properties that make improvements to their site. The …
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