Every fact cites the document that states it. Board resolutions, permits, certificates of occupancy, PILOT and redevelopment agreements, tax parcels, deeds and mortgages, read from the source documents and linked site by site.
Appearances counted by appearance, not by matter. Source: Red Bank Development Record, Exhibit 5, September 2026.
Total stated principal of mortgages recorded Jul 1 to Sep 30, 2026. Source: Jersey City Capital Markets Update, Q3 2026, page 2.
| Agreement | Redevelopment and Purchase and Sale Agreement, Feb 8, 2016, amended four times to May 19, 2025 | Recitals |
|---|---|---|
| Phasing | Redeveloper buys the site phase by phase as conditions precedent are met | Recitals |
| Pre-closing payment | $325,000, credited in full against the Phase I price | Recitals |
| Soil escrows | $200,000, then a further $250,000, both credited against the price | Recitals |
| City obligation | Test, classify and remove about 30,000 cubic yards of stockpiled soil | Recitals |
| Closing condition | Contaminated soil removed, deed notice ended, clean LSRP letter | Recitals |
| Phase I net price | $4,955,000 | § 1 |
Recited in Bayonne Ordinance O-25-69, adopted 2025-11-12, authorizing the Phase I sale of Block 830, Lot 2.02 to Bayonne Partners Urban Renewal LLC.
| Years 1 to 10 | 10% of AGR |
|---|---|
| Years 10 to 15 | 12% of AGR |
| Years 15 to 20 | 12% of AGR or 20% of taxes otherwise due, whichever is greater |
| Years 20 to 25 | 12% of AGR or 40% of taxes |
| Years 25 to 28 | 12% of AGR or 60% of taxes |
| Years 28 to 30 | 12% of AGR or 80% of taxes |
| Units | About 551 market-rate rentals | Recitals |
|---|---|---|
| Minimum | $1,000,000 a year, whatever the AGR math gives | § 4.2 |
| Admin fee | 2% of the projected annual charge | § 4.9 |
| Build deadline | Start within 3 months of financing, never past 36 months, no extension | § 2.6 |
| Projected to City | $1,481,449.95 a year; the land paid no tax in 2016 | Recitals |
AGR is annual gross revenue; years run from the certificate of occupancy. Financial Agreement, § 4.2, attached to Bayonne Ordinance O-17-45, adopted 2017-08-16.
Planning & Zoning Resolutions · Construction Permits · Certificates of Occupancy · Redevelopment & PILOT Agreements · Affordable Housing Element & 4th Round · Board & Council Minutes · Tax Parcel Records · Sales Deeds & Mortgage Instruments