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Resolution of the Mayor and Council of Princeton Authorizing Block 7401, Lot 1.013 of the Princeton Tax Map to be Added to the Princeton Tax Exemption List
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WHEREAS, the Municipality of Princeton has entered into a Redevelopment Agreement with Princeton SC Residential Urban Renewal, LLC for the development of Block 7401, Lot 1.013 Princeton Tax Map; and
WHEREAS, the Princeton Tax Assessor and Tax Collector have requested that said property be placed on the Princeton Tax Exempt List since property is now required to make payments in lieu of taxes (“PILOT”) to the Municipality of Princeton.
NOW, THEREFORE, BE IT RESOLVED, by the Mayor and Council of the Municipality of Princeton as follows:
1. The Princeton Tax Assessor is hereby authorized to add the above-referenced property to the Princeton Tax Exempt List.
2. The Princeton Tax Collector is hereby authorized to cancel any prior tax billing for the Fourth Quarter of 2025 for said property.
3. A certified true copy of this Resolution shall be furnished by the Municipal Clerk to the Princeton Tax Assessor, the Princeton Tax Collector and AvalonBay Communities, Inc. upon its adoption.